Shares of Barrick Gold Corp (NYSE:GOLD – Get Rating) (TSE:ABX) have received a consensus rating of “Moderate Buy” from the twelve ratings firms that are covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $23.99.
A number of equities research analysts have recently weighed in on GOLD shares. Fundamental Research reaffirmed a “buy” rating and issued a $19.90 price objective (down from $23.42) on shares of Barrick Gold in a research note on Tuesday, November 15th. Stifel Nicolaus lowered their target price on Barrick Gold from C$35.25 to C$33.00 in a research note on Wednesday, October 19th. National Bank Financial boosted their target price on Barrick Gold from C$25.00 to C$30.00 in a research note on Friday, January 13th. TD Securities lowered their target price on Barrick Gold from $24.00 to $21.00 and set a “buy” rating for the company in a research note on Friday, November 4th. Finally, Barclays lowered their target price on Barrick Gold from $25.00 to $23.00 and set an “overweight” rating for the company in a research note on Monday, November 21st.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the business. Clarius Group LLC acquired a new position in shares of Barrick Gold during the 2nd quarter worth about $236,000. Raymond James Trust N.A. lifted its holdings in shares of Barrick Gold by 25.5% in the 3rd quarter. Raymond James Trust N.A. now owns 16,961 shares of the gold and copper producer’s stock valued at $263,000 after purchasing an additional 3,447 shares during the last quarter. SeaCrest Wealth Management LLC purchased a new stake in shares of Barrick Gold in the 2nd quarter valued at about $81,000. Leavell Investment Management Inc. lifted its holdings in shares of Barrick Gold by 11.2% in the 2nd quarter. Leavell Investment Management Inc. now owns 11,883 shares of the gold and copper producer’s stock valued at $210,000 after purchasing an additional 1,200 shares during the last quarter. Finally, Mizuho Markets Cayman LP purchased a new stake in shares of Barrick Gold in the 3rd quarter valued at about $480,000. 56.82% of the stock is owned by institutional investors and hedge funds.
Barrick Gold Price Performance
Barrick Gold (NYSE:GOLD – Get Rating) (TSE:ABX) last issued its quarterly earnings data on Thursday, November 3rd. The gold and copper producer reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. Barrick Gold had a return on equity of 5.34% and a net margin of 16.39%. The business had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $3.09 billion. Equities analysts expect that Barrick Gold will post 0.76 EPS for the current year.
Barrick Gold Cuts Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 15th. Stockholders of record on Wednesday, November 30th were given a dividend of $0.11 per share. The ex-dividend date was Tuesday, November 29th. This represents a $0.44 annualized dividend and a dividend yield of 2.27%. Barrick Gold’s dividend payout ratio is currently 37.38%.
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.
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