Barrick Gold Corp (NYSE:GOLD) Receives Average Recommendation of “Buy” from Analysts


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Shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) have received a consensus recommendation of “Buy” from the nineteen research firms that are covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $30.19.

Several research firms have issued reports on GOLD. Robert W. Baird upgraded Barrick Gold from an “equal weight” rating to an “overweight” rating and dropped their price objective for the stock from $35.00 to $28.00 in a report on Wednesday, January 6th. Stifel Nicolaus lifted their price objective on Barrick Gold from $42.50 to $43.25 and gave the stock a “buy” rating in a report on Monday, February 8th. TD Securities dropped their price objective on Barrick Gold from $32.00 to $30.00 and set an “action list buy” rating on the stock in a report on Friday, February 26th. JPMorgan Chase & Co. began coverage on Barrick Gold in a report on Wednesday, February 10th. They set a “neutral” rating on the stock. Finally, Canaccord Genuity restated a “buy” rating and set a $42.00 price objective on shares of Barrick Gold in a report on Thursday, February 11th.

Large investors have recently added to or reduced their stakes in the stock. Flossbach Von Storch AG boosted its position in Barrick Gold by 14.5% during the 4th quarter. Flossbach Von Storch AG now owns 53,750,469 shares of the gold and copper producer’s stock worth $1,224,436,000 after acquiring an additional 6,821,463 shares during the period. Van ECK Associates Corp boosted its position in Barrick Gold by 5.8% during the 4th quarter. Van ECK Associates Corp now owns 84,311,925 shares of the gold and copper producer’s stock worth $1,920,626,000 after acquiring an additional 4,616,266 shares during the period. Morgan Stanley boosted its position in Barrick Gold by 50.9% during the 4th quarter. Morgan Stanley now owns 6,809,037 shares of the gold and copper producer’s stock worth $155,111,000 after acquiring an additional 2,297,499 shares during the period. Canada Pension Plan Investment Board acquired a new position in Barrick Gold during the 4th quarter worth $42,312,000. Finally, Price T Rowe Associates Inc. MD boosted its position in Barrick Gold by 13.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,889,446 shares of the gold and copper producer’s stock worth $247,999,000 after acquiring an additional 1,306,846 shares during the period. Institutional investors and hedge funds own 60.93% of the company’s stock.

Shares of NYSE:GOLD traded down $0.33 during mid-day trading on Thursday, hitting $22.41. 13,604,890 shares of the company traded hands, compared to its average volume of 19,501,891. The firm has a market cap of $39.85 billion, a P/E ratio of 13.18, a PEG ratio of 9.12 and a beta of -0.02. The company has a debt-to-equity ratio of 0.16, a quick ratio of 3.28 and a current ratio of 4.49. Barrick Gold has a 52-week low of $18.64 and a 52-week high of $31.22. The firm’s 50 day simple moving average is $20.67 and its 200 day simple moving average is $22.27.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its earnings results on Wednesday, February 17th. The gold and copper producer reported $0.35 EPS for the quarter, beating the consensus estimate of $0.31 by $0.04. The business had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.22 billion. Barrick Gold had a return on equity of 5.63% and a net margin of 24.81%. Equities research analysts expect that Barrick Gold will post 1.12 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 15th. Investors of record on Monday, March 1st were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, February 26th. This represents a $0.36 dividend on an annualized basis and a yield of 1.61%. Barrick Gold’s dividend payout ratio is currently 70.59%.

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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Analyst Recommendations for Barrick Gold (NYSE:GOLD)

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