Barrick Gold (NYSE:GOLD) Shares Gap Down to $17.37

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $17.37, but opened at $16.79. Barrick Gold shares last traded at $16.35, with a volume of 9,937,563 shares traded.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on GOLD. Scotiabank cut their target price on shares of Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating for the company in a research note on Tuesday, February 20th. Sanford C. Bernstein downgraded shares of Barrick Gold from an “outperform” rating to a “market perform” rating in a research note on Monday, January 8th. Argus reissued a “hold” rating on shares of Barrick Gold in a research note on Monday, February 26th. StockNews.com raised shares of Barrick Gold from a “hold” rating to a “buy” rating in a research note on Wednesday, February 21st. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $18.00 target price on shares of Barrick Gold in a research note on Monday, March 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Barrick Gold has a consensus rating of “Moderate Buy” and an average target price of $22.05.

Barrick Gold Stock Down 4.7 %

The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.40 and a current ratio of 3.16. The firm has a market cap of $29.07 billion, a PE ratio of 22.68, a PEG ratio of 1.63 and a beta of 0.58. The stock has a fifty day moving average price of $15.75 and a 200-day moving average price of $16.18.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its quarterly earnings results on Wednesday, February 14th. The gold and copper producer reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.06. The firm had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Barrick Gold had a return on equity of 4.64% and a net margin of 11.16%. During the same quarter in the prior year, the business earned $0.13 EPS. Research analysts expect that Barrick Gold Corp will post 0.91 EPS for the current year.

Barrick Gold Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were issued a $0.074 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend was Wednesday, February 28th. Barrick Gold’s dividend payout ratio is presently 55.56%.

Hedge Funds Weigh In On Barrick Gold

Institutional investors and hedge funds have recently bought and sold shares of the stock. Principal Securities Inc. purchased a new position in shares of Barrick Gold during the 4th quarter valued at approximately $26,000. Fairfield Bush & CO. purchased a new position in shares of Barrick Gold during the 2nd quarter valued at approximately $29,000. EverSource Wealth Advisors LLC boosted its stake in shares of Barrick Gold by 175.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,794 shares of the gold and copper producer’s stock valued at $32,000 after buying an additional 1,143 shares during the last quarter. Bruce G. Allen Investments LLC purchased a new position in shares of Barrick Gold during the 4th quarter valued at approximately $35,000. Finally, Resurgent Financial Advisors LLC acquired a new stake in shares of Barrick Gold during the 4th quarter valued at approximately $36,000. 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.