Barrick Gold Corp (NYSE:GOLD) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) have earned a consensus rating of “Moderate Buy” from the fourteen ratings firms that are currently covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $23.71.

Several research firms have commented on GOLD. Citigroup lowered their price target on shares of Barrick Gold from $21.00 to $17.00 and set a “neutral” rating for the company in a report on Monday. TD Securities dropped their target price on Barrick Gold from $24.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Bank of America downgraded Barrick Gold from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $21.00 to $18.00 in a report on Monday, January 27th. Scotiabank increased their price objective on Barrick Gold from $19.00 to $20.00 and gave the company a “sector perform” rating in a report on Tuesday, February 18th. Finally, Stifel Canada upgraded Barrick Gold to a “strong-buy” rating in a research note on Wednesday, March 19th.

Barrick Gold Trading Down 0.2 %

NYSE:GOLD opened at $19.38 on Friday. Barrick Gold has a 12-month low of $15.11 and a 12-month high of $21.35. The firm has a market cap of $33.43 billion, a PE ratio of 15.75, a price-to-earnings-growth ratio of 0.44 and a beta of 0.58. 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 stock has a fifty day moving average price of $18.14 and a 200 day moving average price of $18.03.

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, meeting the consensus estimate of $0.46. Barrick Gold had a return on equity of 6.76% and a net margin of 16.59%. Sell-side analysts anticipate that Barrick Gold will post 1.47 earnings per share for the current fiscal year.

Barrick Gold announced that its Board of Directors has authorized a stock repurchase program on Wednesday, February 12th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the gold and copper producer to buy up to 3.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Barrick Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.40 dividend on an annualized basis and a yield of 2.06%. Barrick Gold’s dividend payout ratio is presently 32.52%.

Hedge Funds Weigh In On Barrick Gold

Several institutional investors have recently added to or reduced their stakes in GOLD. Crowley Wealth Management Inc. acquired a new stake in Barrick Gold during the 4th quarter worth approximately $26,000. Vega Investment Solutions purchased a new stake in shares of Barrick Gold during the fourth quarter worth approximately $31,000. MassMutual Private Wealth & Trust FSB lifted 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 period. Strategic Investment Solutions Inc. IL purchased a new position in Barrick Gold in the 4th quarter valued at $37,000. Finally, Ameriflex Group Inc. acquired a new position in Barrick Gold in the 4th quarter valued at $39,000. 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.