A number of other equities research analysts have also weighed in on the company. Raymond James reduced their price objective on Barrick Gold from $26.00 to $25.00 and set an outperform rating on the stock in a research report on Friday, October 13th. Veritas Investment Research downgraded Barrick Gold from a buy rating to a reduce rating in a research note on Wednesday, October 4th. Jefferies Financial Group reduced their target price on shares of Barrick Gold from $18.00 to $15.00 and set a hold rating on the stock in a report on Wednesday, October 4th. TD Securities dropped their price target on shares of Barrick Gold from $25.00 to $22.00 and set a buy rating for the company in a research note on Monday, November 6th. Finally, CSFB reduced their price objective on shares of Barrick Gold from $22.00 to $20.00 and set an outperform rating on the stock in a research note on Thursday, August 17th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $22.31.
Barrick Gold Stock Performance
Barrick Gold (NYSE:GOLD – Get Free Report) (TSE:ABX) last announced its quarterly earnings results on Thursday, November 2nd. The gold and copper producer reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.05. The company had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.93 billion. Barrick Gold had a net margin of 0.52% and a return on equity of 3.88%. The firm’s revenue was up 13.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.13 EPS. As a group, analysts expect that Barrick Gold will post 0.82 earnings per share for the current fiscal year.
Barrick Gold Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be paid a $0.10 dividend. The ex-dividend date is Wednesday, November 29th. This represents a $0.40 annualized dividend and a dividend yield of 2.53%. Barrick Gold’s dividend payout ratio is currently 1,333.33%.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of GOLD. Vanguard Group Inc. increased its holdings in shares of Barrick Gold by 2.5% during the first quarter. Vanguard Group Inc. now owns 56,601,028 shares of the gold and copper producer’s stock valued at $1,388,423,000 after acquiring an additional 1,379,254 shares in the last quarter. BlackRock Inc. increased its stake in Barrick Gold by 3.7% during the 2nd quarter. BlackRock Inc. now owns 44,035,714 shares of the gold and copper producer’s stock valued at $745,525,000 after purchasing an additional 1,570,978 shares in the last quarter. FMR LLC raised its holdings in Barrick Gold by 12.2% during the third quarter. FMR LLC now owns 43,399,480 shares of the gold and copper producer’s stock worth $631,228,000 after buying an additional 4,731,559 shares during the last quarter. Flossbach Von Storch AG lifted its stake in shares of Barrick Gold by 1.7% in the second quarter. Flossbach Von Storch AG now owns 34,586,641 shares of the gold and copper producer’s stock valued at $585,552,000 after buying an additional 585,293 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Barrick Gold by 5.5% during the first quarter. Wellington Management Group LLP now owns 22,645,257 shares of the gold and copper producer’s stock valued at $420,218,000 after buying an additional 1,174,419 shares during the last quarter. 58.20% of the stock is owned by institutional investors.
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.
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