Barrick Gold (NYSE:GOLD) Shares Up 1%

Barrick Gold Corp (NYSE:GOLD - Get Free Report) TSE: ABX's stock price rose 1% on Wednesday . The company traded as high as $20.68 and last traded at $20.64. Approximately 4,471,238 shares changed hands during trading, a decline of 79% from the average daily volume of 21,245,889 shares. The stock had previously closed at $20.43.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on GOLD shares. Jefferies Financial Group lifted their target price on shares of Barrick Gold from $23.00 to $24.00 and gave the stock a "buy" rating in a research note on Friday, September 13th. Argus upgraded shares of Barrick Gold from a "hold" rating to a "buy" rating and set a $24.00 price objective for the company in a research note on Thursday, August 29th. Royal Bank of Canada increased their target price on Barrick Gold from $21.00 to $22.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 10th. CIBC raised their price target on Barrick Gold from $23.00 to $27.00 and gave the stock an "outperformer" rating in a report on Wednesday, July 10th. Finally, Scotiabank boosted their price objective on Barrick Gold from $23.00 to $25.00 and gave the company a "sector outperform" rating in a research note on Monday, August 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $23.30.

Barrick Gold Trading Up 1.4 %

The stock's 50 day simple moving average is $19.26 and its 200 day simple moving average is $17.71. The firm has a market cap of $36.30 billion, a PE ratio of 25.26, a PEG ratio of 0.49 and a beta of 0.55. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.31 and a current ratio of 3.01.

Barrick Gold (NYSE:GOLD - Get Free Report) TSE: ABX last announced its earnings results on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.05. Barrick Gold had a net margin of 12.78% and a return on equity of 5.53%. The company had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same period in the previous year, the business earned $0.19 earnings per share. The firm's quarterly revenue was up 11.6% compared to the same quarter last year. On average, sell-side analysts forecast that Barrick Gold Corp will post 1.25 earnings per share for the current fiscal year.

Barrick Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were issued a dividend of $0.10 per share. The ex-dividend date was Friday, August 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.93%. Barrick Gold's dividend payout ratio is 48.78%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Principal Securities Inc. purchased a new position in shares of Barrick Gold in the fourth quarter worth about $26,000. Corient Private Wealth LLC increased its stake in Barrick Gold by 0.9% in the 4th quarter. Corient Private Wealth LLC now owns 123,651 shares of the gold and copper producer's stock worth $2,237,000 after purchasing an additional 1,066 shares during the period. EverSource Wealth Advisors LLC lifted its position in Barrick Gold by 175.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,794 shares of the gold and copper producer's stock valued at $32,000 after purchasing an additional 1,143 shares during the last quarter. Advisory Services Network LLC boosted its stake in shares of Barrick Gold by 29.4% during the fourth quarter. Advisory Services Network LLC now owns 45,217 shares of the gold and copper producer's stock valued at $818,000 after purchasing an additional 10,273 shares during the period. Finally, Congress Wealth Management LLC DE purchased a new stake in shares of Barrick Gold during the fourth quarter valued at approximately $196,000. 62.85% of the stock is owned by hedge funds and other 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.