Barrick Gold Corp (NYSE:GOLD) Receives $23.30 Consensus Price Target from Brokerages

Shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) have earned a consensus rating of “Moderate Buy” from the sixteen analysts that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $23.30.

A number of analysts have recently weighed in on GOLD shares. BMO Capital Markets decreased their price target on shares of Barrick Gold from $26.00 to $24.00 and set an “outperform” rating for the company in a research report on Thursday, February 15th. StockNews.com raised shares of Barrick Gold from a “hold” rating to a “buy” rating in a report on Wednesday, February 21st. Sanford C. Bernstein downgraded shares of Barrick Gold from an “outperform” rating to a “market perform” rating in a report on Monday, January 8th. TD Securities cut their target price on Barrick Gold from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Friday, February 16th. Finally, CIBC cut their target price on Barrick Gold from $27.00 to $23.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 7th.

Barrick Gold Price Performance

Shares of NYSE GOLD opened at $16.64 on Monday. The stock has a market cap of $29.21 billion, a price-to-earnings ratio of 23.11, a PEG ratio of 1.26 and a beta of 0.57. Barrick Gold has a 52 week low of $13.76 and a 52 week high of $20.75. The company’s 50-day moving average price is $15.29 and its 200 day moving average price is $16.04. The company has a current ratio of 3.16, a quick ratio of 2.40 and a debt-to-equity ratio of 0.15.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its earnings results on Wednesday, February 14th. The gold and copper producer reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.06. The company had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.13 billion. Barrick Gold had a net margin of 11.16% and a return on equity of 4.64%. During the same period in the prior year, the firm earned $0.13 EPS. As a group, research analysts forecast that Barrick Gold will post 0.9 earnings per share for the current fiscal year.

Barrick Gold Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a $0.074 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.30 annualized dividend and a dividend yield of 1.78%. Barrick Gold’s dividend payout ratio is currently 55.56%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of GOLD. Wellington Management Group LLP raised its stake in Barrick Gold by 58.4% during the 4th quarter. Wellington Management Group LLP now owns 100,680,644 shares of the gold and copper producer’s stock valued at $1,821,963,000 after buying an additional 37,128,653 shares during the last quarter. Snider Financial Group purchased a new stake in Barrick Gold during the 1st quarter valued at $185,000. Van ECK Associates Corp raised its stake in Barrick Gold by 9.7% during the 4th quarter. Van ECK Associates Corp now owns 80,933,517 shares of the gold and copper producer’s stock valued at $1,464,070,000 after buying an additional 7,150,142 shares during the last quarter. Capital World Investors raised its stake in Barrick Gold by 16.4% during the 4th quarter. Capital World Investors now owns 45,479,229 shares of the gold and copper producer’s stock valued at $821,790,000 after buying an additional 6,417,244 shares during the last quarter. Finally, Ruffer LLP raised its stake in Barrick Gold by 198.3% during the 4th quarter. Ruffer LLP now owns 9,606,218 shares of the gold and copper producer’s stock valued at $173,727,000 after buying an additional 6,385,566 shares during the last quarter. Hedge funds and other institutional investors own 62.85% of the company’s stock.

Barrick Gold Company Profile

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.