Barrick Gold Corp (NYSE:GOLD) Receives $23.50 Average Target Price from Analysts

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) has been given an average rating of “Moderate Buy” by the ten analysts that are currently covering the company, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $23.90.

A number of research firms have issued reports on GOLD. Argus raised Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Thursday, August 29th. UBS Group downgraded shares of Barrick Gold from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $23.00 to $22.00 in a research note on Wednesday, October 30th. Royal Bank of Canada boosted their price target on shares of Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Jefferies Financial Group lifted their price objective on shares of Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Finally, TD Securities dropped their target price on Barrick Gold from $27.00 to $26.00 and set a “buy” rating on the stock in a report on Friday.

Hedge Funds Weigh In On Barrick Gold

A number of hedge funds have recently modified their holdings of GOLD. Ritholtz Wealth Management grew its position in Barrick Gold by 2.8% during the 3rd quarter. Ritholtz Wealth Management now owns 18,163 shares of the gold and copper producer’s stock worth $361,000 after purchasing an additional 502 shares during the last quarter. Greenleaf Trust grew its holdings in shares of Barrick Gold by 2.1% during the third quarter. Greenleaf Trust now owns 25,659 shares of the gold and copper producer’s stock worth $510,000 after buying an additional 540 shares during the last quarter. Moors & Cabot Inc. grew its holdings in shares of Barrick Gold by 0.9% during the third quarter. Moors & Cabot Inc. now owns 64,085 shares of the gold and copper producer’s stock worth $1,275,000 after buying an additional 579 shares during the last quarter. Silverlake Wealth Management LLC raised its stake in Barrick Gold by 1.3% during the 3rd quarter. Silverlake Wealth Management LLC now owns 49,890 shares of the gold and copper producer’s stock valued at $992,000 after acquiring an additional 628 shares during the last quarter. Finally, Avior Wealth Management LLC raised its stake in Barrick Gold by 24.1% during the 3rd quarter. Avior Wealth Management LLC now owns 3,399 shares of the gold and copper producer’s stock valued at $68,000 after acquiring an additional 659 shares during the last quarter. 62.85% of the stock is currently owned by hedge funds and other institutional investors.

Barrick Gold Trading Down 0.4 %

Shares of GOLD stock opened at $18.40 on Tuesday. Barrick Gold has a fifty-two week low of $13.76 and a fifty-two week high of $21.35. The company has a 50 day moving average price of $19.95 and a 200 day moving average price of $18.46. The stock has a market capitalization of $32.16 billion, a P/E ratio of 21.40, a price-to-earnings-growth ratio of 0.43 and a beta of 0.56. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.31 and a current ratio of 3.01.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its quarterly earnings results on Monday, August 12th. The gold and copper producer reported $0.32 EPS for the quarter, topping the consensus estimate of $0.27 by $0.05. The business had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.13 billion. Barrick Gold had a net margin of 12.78% and a return on equity of 5.53%. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.19 earnings per share. Equities research analysts predict that Barrick Gold will post 1.29 EPS for the current fiscal year.

Barrick Gold Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a dividend of $0.10 per share. The ex-dividend date is Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a yield of 2.17%. Barrick Gold’s dividend payout ratio is presently 46.51%.

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.