Barrick Gold (NYSE:GOLD) Shares Gap Up to $15.91

Barrick Gold Corp (NYSE:GOLD – Get Rating) (TSE:ABX) shares gapped up prior to trading on Monday . The stock had previously closed at $15.91, but opened at $16.60. Barrick Gold shares last traded at $16.98, with a volume of 10,000,602 shares.

Analyst Ratings Changes

GOLD has been the subject of several research reports. BNP Paribas lowered shares of Barrick Gold from an “outperform” rating to a “neutral” rating and set a $19.00 price target for the company. in a report on Monday, February 13th. Fundamental Research set a $19.02 price target on shares of Barrick Gold and gave the company a “buy” rating in a report on Tuesday, March 7th. National Bank Financial decreased their price target on shares of Barrick Gold from C$29.00 to C$28.00 in a report on Thursday, February 23rd. Raymond James reduced their target price on shares of Barrick Gold from $25.00 to $24.00 and set an “outperform” rating for the company in a research note on Thursday, February 16th. Finally, Royal Bank of Canada reduced their target price on shares of Barrick Gold from $27.00 to $20.00 and set an “outperform” rating for the company in a research note on Monday, November 21st. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $23.60.

Barrick Gold Price Performance

The stock’s fifty day moving average price is $17.92 and its 200-day moving average price is $16.51. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.71 and a quick ratio of 2.14. The firm has a market cap of $29.96 billion, a price-to-earnings ratio of 71.13, a price-to-earnings-growth ratio of 8.94 and a beta of 0.30.

Barrick Gold (NYSE:GOLD – Get Rating) (TSE:ABX) last released its quarterly earnings results on Wednesday, February 15th. The gold and copper producer reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. Barrick Gold had a net margin of 3.92% and a return on equity of 4.12%. The business had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.79 billion. During the same quarter in the previous year, the business earned $0.35 earnings per share. The firm’s revenue was down 16.2% compared to the same quarter last year. Equities research analysts predict that Barrick Gold Corp will post 0.89 EPS for the current fiscal year.

Barrick Gold Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Tuesday, February 28th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.34%. The ex-dividend date is Monday, February 27th. Barrick Gold’s dividend payout ratio is 166.67%.

Institutional Trading of Barrick Gold

Large investors have recently modified their holdings of the company. Van ECK Associates Corp raised its stake in Barrick Gold by 8.2% during the 4th quarter. Van ECK Associates Corp now owns 81,780,010 shares of the gold and copper producer’s stock valued at $1,404,950,000 after purchasing an additional 6,218,329 shares during the last quarter. Vanguard Group Inc. raised its stake in Barrick Gold by 3.1% during the 3rd quarter. Vanguard Group Inc. now owns 59,664,940 shares of the gold and copper producer’s stock valued at $924,807,000 after purchasing an additional 1,803,805 shares during the last quarter. Flossbach Von Storch AG raised its stake in Barrick Gold by 5.7% during the 3rd quarter. Flossbach Von Storch AG now owns 49,178,271 shares of the gold and copper producer’s stock valued at $762,263,000 after purchasing an additional 2,635,991 shares during the last quarter. Mackenzie Financial Corp raised its stake in Barrick Gold by 6.3% during the 4th quarter. Mackenzie Financial Corp now owns 21,129,740 shares of the gold and copper producer’s stock valued at $361,616,000 after purchasing an additional 1,254,531 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in Barrick Gold by 40.8% during the 1st quarter. Wellington Management Group LLP now owns 17,824,320 shares of the gold and copper producer’s stock valued at $437,387,000 after purchasing an additional 5,164,698 shares during the last quarter. 56.82% of the stock is owned by institutional investors.

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.