TD Securities Has Lowered Expectations for Barrick Gold (NYSE:GOLD) Stock Price

by · The Cerbat Gem

Barrick Gold (NYSE:GOLD – Free Report) (TSE:ABX) had its price objective cut by TD Securities from $27.00 to $26.00 in a research note issued to investors on Friday,BayStreet.CA reports. They currently have a buy rating on the gold and copper producer’s stock.

Several other research analysts also recently issued reports on GOLD. UBS Group downgraded Barrick Gold from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $23.00 to $22.00 in a report on Wednesday, October 30th. Argus raised Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a report on Thursday, August 29th. Royal Bank of Canada upped their price objective on Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Raymond James reduced their price objective on Barrick Gold from $26.50 to $26.00 and set an “outperform” rating on the stock in a report on Thursday, September 26th. Finally, Jefferies Financial Group upped their price objective on Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Friday, September 13th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $23.90.

View Our Latest Stock Analysis on Barrick Gold

Barrick Gold Stock Down 0.4 %

Shares of GOLD opened at $18.40 on Friday. The company has a market capitalization of $32.16 billion, a P/E ratio of 21.40, a PEG ratio of 0.43 and a beta of 0.56. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.01 and a quick ratio of 2.31. Barrick Gold has a one year low of $13.76 and a one year high of $21.35. The business’s 50 day simple moving average is $19.95 and its 200-day simple moving average is $18.47.

Barrick Gold (NYSE:GOLD – Get Free Report) (TSE:ABX) last announced its 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 for the quarter, compared to the consensus estimate of $3.13 billion. Barrick Gold had a return on equity of 5.53% and a net margin of 12.78%. Barrick Gold’s revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.19 EPS. As a group, sell-side analysts predict that Barrick Gold will post 1.29 EPS for the current fiscal year.

Barrick Gold Announces Dividend

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in GOLD. Vanguard Group Inc. increased its stake in Barrick Gold by 1.7% in the first quarter. Vanguard Group Inc. now owns 64,761,067 shares of the gold and copper producer’s stock valued at $1,077,624,000 after acquiring an additional 1,089,572 shares during the last quarter. First Eagle Investment Management LLC increased its stake in Barrick Gold by 31.6% in the first quarter. First Eagle Investment Management LLC now owns 58,820,050 shares of the gold and copper producer’s stock valued at $978,766,000 after acquiring an additional 14,138,639 shares during the last quarter. EdgePoint Investment Group Inc. increased its stake in Barrick Gold by 3.7% in the second quarter. EdgePoint Investment Group Inc. now owns 18,837,028 shares of the gold and copper producer’s stock valued at $314,254,000 after acquiring an additional 666,214 shares during the last quarter. National Bank of Canada FI boosted its position in Barrick Gold by 9.0% in the first quarter. National Bank of Canada FI now owns 14,887,656 shares of the gold and copper producer’s stock valued at $251,929,000 after buying an additional 1,231,184 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its position in Barrick Gold by 3.3% in the second quarter. CIBC Asset Management Inc now owns 14,546,530 shares of the gold and copper producer’s stock valued at $242,491,000 after buying an additional 461,406 shares in the last quarter. 62.85% of the stock is owned by institutional investors.

Barrick Gold Company Profile

(Get Free Report)

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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