Barrick Gold (NYSE:GOLD) Stock Price Up 1.5% – Time to Buy?

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX)’s stock price traded up 1.5% during mid-day trading on Monday . The stock traded as high as $20.94 and last traded at $20.46. 7,336,235 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 23,992,553 shares. The stock had previously closed at $20.17.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GOLD. Scotiabank boosted their price target on Barrick Gold from $20.00 to $22.00 and gave the stock a “sector perform” rating in a research report on Monday, April 14th. Royal Bank of Canada boosted their target price on Barrick Gold from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday, April 4th. National Bankshares reaffirmed an “outperform” rating on shares of Barrick Gold in a report on Wednesday, April 2nd. TD Securities dropped their price objective on shares of Barrick Gold from $24.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Finally, Citigroup reduced their target price on shares of Barrick Gold from $21.00 to $17.00 and set a “neutral” rating for the company in a report on Monday, March 31st. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $24.05.

Barrick Gold Trading Up 0.2 %

The stock has a market capitalization of $34.77 billion, a P/E ratio of 16.44, a P/E/G ratio of 0.44 and a beta of 0.55. The company has a current ratio of 2.89, a quick ratio of 2.15 and a debt-to-equity ratio of 0.14. The business has a 50-day moving average price of $18.80 and a two-hundred day moving average price of $17.91.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its quarterly earnings data on Wednesday, February 12th. The gold and copper producer reported $0.46 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.46. Barrick Gold had a net margin of 16.59% and a return on equity of 6.76%. On average, analysts expect that Barrick Gold Corp will post 1.47 EPS for the current fiscal year.

Barrick Gold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were issued a dividend of $0.10 per share. The ex-dividend date was Friday, February 28th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.98%. Barrick Gold’s dividend payout ratio (DPR) is currently 32.52%.

Barrick Gold declared that its board has initiated a share buyback plan on Wednesday, February 12th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the gold and copper producer to reacquire up to 3.2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC boosted its position in Barrick Gold by 21.8% in the first quarter. Farther Finance Advisors LLC now owns 3,146 shares of the gold and copper producer’s stock valued at $62,000 after buying an additional 563 shares in the last quarter. Sapient Capital LLC grew its position in Barrick Gold by 0.5% during the 1st quarter. Sapient Capital LLC now owns 114,572 shares of the gold and copper producer’s stock worth $2,227,000 after acquiring an additional 624 shares during the last quarter. Keystone Financial Group increased its holdings in Barrick Gold by 1.4% in the 4th quarter. Keystone Financial Group now owns 56,394 shares of the gold and copper producer’s stock worth $874,000 after purchasing an additional 753 shares in the last quarter. Edge Wealth Management LLC boosted its stake in shares of Barrick Gold by 6.1% during the first quarter. Edge Wealth Management LLC now owns 13,110 shares of the gold and copper producer’s stock valued at $255,000 after purchasing an additional 755 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in shares of Barrick Gold by 55.8% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 2,193 shares of the gold and copper producer’s stock worth $43,000 after purchasing an additional 785 shares during the last quarter. Institutional investors and hedge funds 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.