Barrick Gold (NYSE:GOLD) Shares Gap Up - What's Next?

Barrick Gold Corp (NYSE:GOLD - Get Free Report) TSE: ABX's share price gapped up before the market opened on Monday . The stock had previously closed at $20.17, but opened at $20.90. Barrick Gold shares last traded at $20.84, with a volume of 2,916,754 shares traded.

Analyst Ratings Changes

GOLD has been the topic of a number of recent analyst reports. Scotiabank lifted their price objective on shares of Barrick Gold from $20.00 to $22.00 and gave the company a "sector perform" rating in a research note on Monday, April 14th. National Bank Financial upgraded Barrick Gold to a "hold" rating in a research note on Friday, March 21st. National Bankshares restated an "outperform" rating on shares of Barrick Gold in a research report on Wednesday, April 2nd. Citigroup decreased their target price on Barrick Gold from $21.00 to $17.00 and set a "neutral" rating on the stock in a research report on Monday, March 31st. Finally, BMO Capital Markets began coverage on shares of Barrick Gold in a research note on Wednesday, April 16th. They issued a "market perform" rating on the stock. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $24.05.

Barrick Gold Price Performance

The stock has a market capitalization of $35.21 billion, a price-to-earnings ratio of 16.65, a P/E/G ratio of 0.44 and a beta of 0.55. The company has a fifty day simple moving average of $18.80 and a 200 day simple moving average of $17.91. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.15 and a current ratio of 2.89.

Barrick Gold (NYSE:GOLD - Get Free Report) TSE: ABX last released its earnings results on Wednesday, February 12th. The gold and copper producer reported $0.46 earnings per share for the quarter, meeting analysts' consensus estimates of $0.46. Barrick Gold had a net margin of 16.59% and a return on equity of 6.76%. Equities research analysts forecast that Barrick Gold Corp will post 1.47 EPS for the current fiscal year.

Barrick Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were issued a $0.10 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.40 annualized dividend and a yield of 1.95%. Barrick Gold's payout ratio is 32.52%.

Barrick Gold announced that its Board of Directors has approved a stock repurchase program on Wednesday, February 12th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the gold and copper producer to buy up to 3.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of GOLD. Crowley Wealth Management Inc. bought a new position in shares of Barrick Gold during the 4th quarter worth about $26,000. Vega Investment Solutions bought a new position in Barrick Gold in the fourth quarter worth approximately $31,000. Nexus Investment Management ULC acquired a new stake in Barrick Gold in the first quarter valued at approximately $32,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Barrick Gold during the fourth quarter worth approximately $37,000. Finally, Ameriflex Group Inc. acquired a new position in shares of Barrick Gold during the fourth quarter worth approximately $39,000. 62.85% of the stock is owned by institutional investors.

About Barrick Gold

Barrick Gold Corporation is a sector-leading gold and copper producer.  Its shares trade on the New York Stock Exchange under the symbol GOLD and on the Toronto Stock Exchange under the symbol ABX.   In January 2019 Barrick merged with Randgold Resources and in July that year it combined its gold mines in Nevada, USA, with those of Newmont Corporation in a joint venture, Nevada Gold Mines, which is majority-owned and operated by Barrick.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.