Barrick Gold Corp (NYSE:GOLD) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Barrick Gold Corp (NYSE:GOLDGet Rating) (TSE:ABX) have received a consensus recommendation of “Moderate Buy” from the thirteen brokerages that are presently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $27.17.

Several research firms have recently weighed in on GOLD. Stifel Nicolaus cut their price target on Barrick Gold from C$41.00 to C$35.25 in a research note on Wednesday, July 20th. National Bank Financial cut their price target on Barrick Gold from C$34.00 to C$26.00 in a research note on Thursday, July 21st. Barclays cut their price target on Barrick Gold from $28.00 to $25.00 and set an “overweight” rating for the company in a research note on Tuesday, July 19th. TheStreet downgraded Barrick Gold from a “b-” rating to a “c+” rating in a research note on Friday, July 29th. Finally, The Goldman Sachs Group initiated coverage on Barrick Gold in a research note on Monday, September 12th. They set a “neutral” rating and a $18.00 price target for the company.

Barrick Gold Stock Up 0.9 %

Shares of NYSE:GOLD opened at $15.18 on Thursday. The company has a market capitalization of $26.88 billion, a PE ratio of 13.43, a price-to-earnings-growth ratio of 7.56 and a beta of 0.32. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.95 and a quick ratio of 3.19. The business has a fifty day moving average price of $15.69 and a two-hundred day moving average price of $19.70. Barrick Gold has a 1 year low of $14.53 and a 1 year high of $26.07.

Barrick Gold (NYSE:GOLDGet Rating) (TSE:ABX) last announced its quarterly earnings data on Monday, August 8th. The gold and copper producer reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.02. The firm had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.85 billion. Barrick Gold had a return on equity of 5.95% and a net margin of 16.87%. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.29 EPS. Analysts forecast that Barrick Gold will post 1.02 earnings per share for the current year.

Barrick Gold Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were issued a $0.156 dividend. The ex-dividend date was Tuesday, August 30th. This represents a $0.62 annualized dividend and a dividend yield of 4.11%. Barrick Gold’s payout ratio is currently 72.57%.

Institutional Trading of Barrick Gold

Institutional investors and hedge funds have recently modified their holdings of the business. Hazlett Burt & Watson Inc. purchased a new position in shares of Barrick Gold during the 1st quarter valued at about $26,000. Tompkins Financial Corp purchased a new position in shares of Barrick Gold during the 1st quarter valued at about $27,000. Glassman Wealth Services raised its holdings in shares of Barrick Gold by 99.3% during the 1st quarter. Glassman Wealth Services now owns 1,160 shares of the gold and copper producer’s stock valued at $28,000 after buying an additional 578 shares in the last quarter. CoreCap Advisors LLC purchased a new position in shares of Barrick Gold during the 2nd quarter valued at about $29,000. Finally, JFS Wealth Advisors LLC raised its holdings in shares of Barrick Gold by 91.6% during the 1st quarter. JFS Wealth Advisors LLC now owns 1,226 shares of the gold and copper producer’s stock valued at $30,000 after buying an additional 586 shares in the last quarter. Hedge funds and other institutional investors own 58.03% of the company’s stock.

About Barrick Gold

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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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Analyst Recommendations for Barrick Gold (NYSE:GOLD)

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