Barrick Gold (NYSE:GOLD) Stock Price Down 0.6% – Here’s What Happened

by · The Markets Daily

Barrick Gold Corp (NYSE:GOLD – Get Free Report) (TSE:ABX)’s share price fell 0.6% during mid-day trading on Friday . The stock traded as low as $16.72 and last traded at $16.75. 4,534,191 shares traded hands during trading, a decline of 79% from the average session volume of 21,356,125 shares. The stock had previously closed at $16.85.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Raymond James dropped their price objective on shares of Barrick Gold from $26.50 to $26.00 and set an “outperform” rating on the stock in a research note on Thursday, September 26th. Scotiabank cut their price target on Barrick Gold from $25.00 to $24.00 and set a “sector outperform” rating on the stock in a report on Friday, November 8th. Argus raised Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research report on Thursday, August 29th. TD Securities dropped their price objective on Barrick Gold from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Finally, UBS Group downgraded shares of Barrick Gold from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $23.00 to $22.00 in a report on Wednesday, October 30th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Barrick Gold currently has an average rating of “Moderate Buy” and an average price target of $23.90.

Read Our Latest Stock Analysis on GOLD

Barrick Gold Stock Performance

The firm has a market cap of $29.14 billion, a PE ratio of 18.01, a PEG ratio of 0.40 and a beta of 0.56. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.06 and a current ratio of 2.65. The firm’s 50 day moving average price is $19.74 and its two-hundred day moving average price is $18.46.

Barrick Gold (NYSE:GOLD – Get Free Report) (TSE:ABX) last issued its quarterly earnings data on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.05. Barrick Gold had a net margin of 13.19% and a return on equity of 5.82%. The firm had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same period in the previous year, the firm earned $0.19 EPS. Barrick Gold’s revenue was up 11.6% on a year-over-year basis. On average, research analysts forecast that Barrick Gold Corp will post 1.29 earnings per share for the current year.

Barrick Gold Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.40 annualized dividend and a yield of 2.40%. Barrick Gold’s dividend payout ratio (DPR) is presently 43.01%.

Institutional Trading of Barrick Gold

A number of institutional investors and hedge funds have recently bought and sold shares of the business. DCF Advisers LLC grew its stake in shares of Barrick Gold by 48.3% in the second quarter. DCF Advisers LLC now owns 107,500 shares of the gold and copper producer’s stock worth $1,793,000 after acquiring an additional 35,000 shares in the last quarter. Entropy Technologies LP purchased a new stake in Barrick Gold during the 3rd quarter worth about $3,711,000. Aigen Investment Management LP raised its position in Barrick Gold by 330.5% in the 3rd quarter. Aigen Investment Management LP now owns 99,240 shares of the gold and copper producer’s stock valued at $1,974,000 after purchasing an additional 76,186 shares in the last quarter. Evexia Wealth LLC purchased a new position in Barrick Gold in the third quarter worth approximately $2,382,000. Finally, 1832 Asset Management L.P. lifted its position in shares of Barrick Gold by 3.6% during the 1st quarter. 1832 Asset Management L.P. now owns 1,089,855 shares of the gold and copper producer’s stock worth $18,135,000 after purchasing an additional 38,100 shares during the last quarter. 62.85% of the stock is currently owned by hedge funds and other 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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