Barrick Gold (NYSE:GOLD) Stock Price Up 2.5% - Time to Buy?

Barrick Gold Corp (NYSE:GOLD - Get Free Report) TSE: ABX's stock price traded up 2.5% on Friday . The company traded as high as $20.90 and last traded at $20.84. 4,172,948 shares were traded during trading, a decline of 80% from the average session volume of 20,968,861 shares. The stock had previously closed at $20.34.

Wall Street Analyst Weigh In

GOLD has been the subject of a number of analyst reports. CIBC increased their price target on Barrick Gold from $23.00 to $27.00 and gave the company an "outperformer" rating in a research report on Wednesday, July 10th. UBS Group increased their price target on Barrick Gold from $22.00 to $23.00 and gave the company a "buy" rating in a research report on Tuesday. Jefferies Financial Group increased their price target on Barrick Gold from $23.00 to $24.00 and gave the company a "buy" rating in a research report on Friday, September 13th. Royal Bank of Canada increased their price target on Barrick Gold from $21.00 to $22.00 and gave the company an "outperform" rating in a research report on Tuesday, September 10th. Finally, Raymond James lowered their price target on Barrick Gold from $26.50 to $26.00 and set an "outperform" rating for the company in a research report on Thursday, September 26th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, Barrick Gold has a consensus rating of "Moderate Buy" and an average target price of $23.60.

Barrick Gold Price Performance

The stock has a market cap of $36.67 billion, a P/E ratio of 25.41, a P/E/G ratio of 0.47 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. The business has a 50 day simple moving average of $19.98 and a 200-day simple moving average of $18.19.

Barrick Gold (NYSE:GOLD - Get Free Report) TSE: ABX last posted its quarterly earnings results on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.05. The company had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.13 billion. Barrick Gold had a return on equity of 5.53% and a net margin of 12.78%. The firm's quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.19 EPS. On average, sell-side analysts forecast that Barrick Gold Corp will post 1.27 EPS for the current year.

Barrick Gold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.40 annualized dividend and a dividend yield of 1.91%. Barrick Gold's payout ratio is 48.78%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GOLD. First Eagle Investment Management LLC boosted its stake in Barrick Gold by 31.6% in the 1st quarter. First Eagle Investment Management LLC now owns 58,820,050 shares of the gold and copper producer's stock worth $978,766,000 after purchasing an additional 14,138,639 shares during the period. EdgePoint Investment Group Inc. boosted its stake in Barrick Gold by 38.8% in the 1st quarter. EdgePoint Investment Group Inc. now owns 18,170,814 shares of the gold and copper producer's stock worth $302,366,000 after purchasing an additional 5,080,510 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Barrick Gold by 4,713.3% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,144,456 shares of the gold and copper producer's stock worth $69,141,000 after purchasing an additional 4,058,351 shares during the period. Letko Brosseau & Associates Inc. bought a new position in Barrick Gold in the 2nd quarter worth about $66,820,000. Finally, Equity Investment Corp boosted its stake in Barrick Gold by 82.1% in the 1st quarter. Equity Investment Corp now owns 5,302,815 shares of the gold and copper producer's stock worth $88,239,000 after purchasing an additional 2,390,238 shares during the period. Institutional investors own 62.85% of the company's stock.

Barrick Gold Company Profile

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.