Barrick Gold Corp (NYSE:GOLD) Receives Average Recommendation of “Moderate Buy” from Brokerages

by · The Markets Daily

Shares of Barrick Gold Corp (NYSE:GOLD – Get Free Report) (TSE:ABX) have been assigned an average rating of “Moderate Buy” from the ten ratings firms that are currently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $23.50.

A number of equities research analysts have recently weighed in on the stock. UBS Group lowered shares of Barrick Gold from a “buy” rating to a “neutral” rating and cut their target price for the company from $23.00 to $22.00 in a research note on Wednesday, October 30th. CIBC lifted their target price on shares of Barrick Gold from $23.00 to $27.00 and gave the stock an “outperformer” rating in a report on Wednesday, July 10th. Argus raised shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a report on Thursday, August 29th. Raymond James decreased their price objective on shares of Barrick Gold from $26.50 to $26.00 and set an “outperform” rating for the company in a report on Thursday, September 26th. Finally, Royal Bank of Canada boosted their price objective on shares of Barrick Gold from $21.00 to $22.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th.

Check Out Our Latest Stock Analysis on GOLD

Barrick Gold Price Performance

GOLD stock opened at $18.90 on Tuesday. The firm has a market cap of $33.04 billion, a P/E ratio of 21.98, a P/E/G ratio of 0.46 and a beta of 0.56. Barrick Gold has a 52 week low of $13.76 and a 52 week high of $21.35. 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 firm’s fifty day moving average is $20.08 and its 200 day moving average is $18.43.

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 for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. The firm had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.13 billion. Barrick Gold had a net margin of 12.78% and a return on equity of 5.53%. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.19 EPS. Research analysts predict that Barrick Gold will post 1.29 earnings per share for the current year.

Barrick Gold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.12%. The ex-dividend date was Friday, August 30th. Barrick Gold’s dividend payout ratio (DPR) is presently 46.51%.

Hedge Funds Weigh In On Barrick Gold

Hedge funds have recently modified their holdings of the stock. DCF Advisers LLC lifted its holdings in shares of Barrick Gold by 48.3% in the second quarter. DCF Advisers LLC now owns 107,500 shares of the gold and copper producer’s stock worth $1,793,000 after buying an additional 35,000 shares in the last quarter. Evexia Wealth LLC purchased a new position in shares of Barrick Gold in the third quarter worth $2,382,000. 1832 Asset Management L.P. raised its stake in Barrick Gold by 3.6% during the first quarter. 1832 Asset Management L.P. now owns 1,089,855 shares of the gold and copper producer’s stock valued at $18,135,000 after purchasing an additional 38,100 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in Barrick Gold during the second quarter valued at $934,000. Finally, Palliser Capital UK Ltd raised its stake in Barrick Gold by 54.1% during the third quarter. Palliser Capital UK Ltd now owns 346,363 shares of the gold and copper producer’s stock valued at $6,889,000 after purchasing an additional 121,663 shares in the last quarter. Hedge funds and other institutional investors own 62.85% of the company’s stock.

Barrick Gold Company Profile

(Get Free Report

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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