Barrick Gold Corp (NYSE:GOLD) Receives Consensus Rating of “Moderate Buy” from Brokerages

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) has been assigned a consensus rating of “Moderate Buy” from the nine research firms that are covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $23.53.

A number of research firms recently commented on GOLD. Cormark raised shares of Barrick Gold from a “market perform” rating to a “buy” rating in a report on Wednesday, August 9th. CSFB lowered their price target on shares of Barrick Gold from $22.00 to $20.00 and set an “outperform” rating on the stock in a report on Thursday, August 17th.

Barrick Gold Price Performance

Shares of NYSE GOLD opened at $15.84 on Thursday. Barrick Gold has a twelve month low of $13.01 and a twelve month high of $20.75. The stock’s 50 day moving average price is $16.62 and its 200-day moving average price is $13.82. The company has a market capitalization of $27.81 billion, a PE ratio of -396.00, a PEG ratio of 9.80 and a beta of 0.38. The company has a quick ratio of 2.14, a current ratio of 2.71 and a debt-to-equity ratio of 0.15.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its earnings results on Tuesday, August 8th. The gold and copper producer reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02. Barrick Gold had a return on equity of 3.46% and a net margin of 1.06%. The firm had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $3.40 billion. During the same quarter in the previous year, the business earned $0.24 EPS. On average, equities analysts anticipate that Barrick Gold will post 0.98 EPS for the current year.

Barrick Gold Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be issued a dividend of $0.10 per share. This is a boost from Barrick Gold’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.40 dividend on an annualized basis and a yield of 2.53%. Barrick Gold’s payout ratio is presently -1,000.00%.

Institutional Investors Weigh In On Barrick Gold

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Personalized Indexing Management LLC raised its holdings in Barrick Gold by 2.4% during the 1st quarter. Vanguard Personalized Indexing Management LLC now owns 22,190 shares of the gold and copper producer’s stock valued at $412,000 after acquiring an additional 514 shares during the period. MGO One Seven LLC increased its holdings in shares of Barrick Gold by 4.7% in the first quarter. MGO One Seven LLC now owns 12,849 shares of the gold and copper producer’s stock worth $239,000 after purchasing an additional 582 shares during the period. Allworth Financial LP increased its holdings in shares of Barrick Gold by 41.7% in the first quarter. Allworth Financial LP now owns 2,088 shares of the gold and copper producer’s stock worth $39,000 after purchasing an additional 614 shares during the period. ClariVest Asset Management LLC increased its holdings in shares of Barrick Gold by 0.3% in the first quarter. ClariVest Asset Management LLC now owns 205,860 shares of the gold and copper producer’s stock worth $3,817,000 after purchasing an additional 640 shares during the period. Finally, HM Payson & Co. increased its holdings in shares of Barrick Gold by 58.2% in the second quarter. HM Payson & Co. now owns 1,740 shares of the gold and copper producer’s stock worth $29,000 after purchasing an additional 640 shares during the period. Institutional investors own 58.20% 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.