Barrick Gold (NYSE:GOLD) Trading Down 1.9% - What's Next?

Barrick Gold Corp (NYSE:GOLD - Get Free Report) TSE: ABX's stock price was down 1.9% during trading on Wednesday . The stock traded as low as $19.72 and last traded at $19.89. Approximately 8,227,395 shares changed hands during trading, a decline of 61% from the average daily volume of 21,070,545 shares. The stock had previously closed at $20.28.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on GOLD shares. Argus upgraded Barrick Gold from a "hold" rating to a "buy" rating and set a $24.00 target price for the company in a research note on Thursday, August 29th. Royal Bank of Canada increased their price target 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 increased their price objective on Barrick Gold from $23.00 to $27.00 and gave the stock an "outperformer" rating in a report on Wednesday, July 10th. UBS Group downgraded Barrick Gold from a "buy" rating to a "neutral" rating and cut their target price for the stock from $23.00 to $22.00 in a research report on Wednesday. Finally, Scotiabank lifted their target price on Barrick Gold from $23.00 to $25.00 and gave the stock a "sector outperform" rating in a report on Monday, August 19th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, Barrick Gold has a consensus rating of "Moderate Buy" and an average target price of $23.50.

Barrick Gold Stock Performance

The company has a current ratio of 3.01, a quick ratio of 2.31 and a debt-to-equity ratio of 0.15. The stock's 50 day moving average price is $20.17 and its 200 day moving average price is $18.36. The company has a market capitalization of $35.21 billion, a price-to-earnings ratio of 24.26, a P/E/G ratio of 0.47 and a beta of 0.55.

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

Barrick Gold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.99%. The ex-dividend date was Friday, August 30th. Barrick Gold's payout ratio is presently 48.78%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Exchange Traded Concepts LLC lifted its stake in Barrick Gold by 198.1% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,407 shares of the gold and copper producer's stock valued at $28,000 after acquiring an additional 935 shares in the last quarter. Clean Yield Group purchased a new stake in shares of Barrick Gold in the 1st quarter valued at about $25,000. Eastern Bank bought a new stake in Barrick Gold during the third quarter worth about $32,000. Crewe Advisors LLC boosted its stake in Barrick Gold by 628.8% in the second quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer's stock worth $30,000 after buying an additional 1,572 shares in the last quarter. Finally, JFS Wealth Advisors LLC grew its holdings in shares of Barrick Gold by 451.7% during the 3rd quarter. JFS Wealth Advisors LLC now owns 1,909 shares of the gold and copper producer's stock valued at $38,000 after purchasing an additional 1,563 shares during the last quarter. 62.85% of the stock is owned by institutional investors.

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.

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