Barrick Gold Corp (NYSE:GOLD – Get Free Report) (TSE:ABX) was the target of some unusual options trading on Tuesday. Investors purchased 81,124 call options on the company. This represents an increase of 44% compared to the average volume of 56,155 call options.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on the company. CIBC dropped their price objective on Barrick Gold from $27.00 to $23.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 7th. Sanford C. Bernstein downgraded shares of Barrick Gold from an “outperform” rating to a “market perform” rating in a research report on Monday, January 8th. National Bank Financial reissued a “sector perform overweight” rating on shares of Barrick Gold in a research report on Monday, April 8th. Jefferies Financial Group initiated coverage on shares of Barrick Gold in a research note on Thursday, February 29th. They issued a “buy” rating and a $21.00 target price for the company. Finally, BMO Capital Markets decreased their price objective on Barrick Gold from $27.00 to $26.00 and set an “outperform” rating for the company in a report on Wednesday, April 17th. One analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Barrick Gold presently has an average rating of “Moderate Buy” and an average target price of $20.06.
Read Our Latest Analysis on Barrick Gold
Institutional Investors Weigh In On Barrick Gold
Barrick Gold Stock Down 1.7 %
Barrick Gold stock opened at $16.36 on Thursday. Barrick Gold has a fifty-two week low of $13.76 and a fifty-two week high of $20.75. The company has a market cap of $28.72 billion, a PE ratio of 22.72, a PEG ratio of 1.53 and a beta of 0.58. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.40 and a current ratio of 3.16. The business’s 50-day simple moving average is $16.26 and its two-hundred day simple moving average is $16.34.
Barrick Gold (NYSE:GOLD – Get Free Report) (TSE:ABX) last issued its earnings results on Wednesday, May 1st. The gold and copper producer reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.04. Barrick Gold had a return on equity of 4.64% and a net margin of 11.16%. The firm had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.74 billion. During the same quarter in the prior year, the firm earned $0.14 earnings per share. Barrick Gold’s revenue for the quarter was up 3.9% on a year-over-year basis. Equities analysts anticipate that Barrick Gold will post 0.95 EPS for the current year.
Barrick Gold Cuts Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were given a dividend of $0.074 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.30 dividend on an annualized basis and a yield of 1.81%. Barrick Gold’s dividend payout ratio is presently 55.56%.
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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