Barrick Gold (NYSE:GOLD) Stock Price Up 0.7% (2024)

Posted by Defense World Staff on Jun 28th, 2024

Barrick Gold Corp (NYSE:GOLD – Get Free Report) (TSE:ABX)’s stock price rose 0.7% during trading on Wednesday . The company traded as high as $16.80 and last traded at $16.71. Approximately 4,195,846 shares were traded during trading, a decline of 81% from the average daily volume of 21,946,676 shares. The stock had previously closed at $16.59.

Analyst Ratings Changes

GOLD has been the topic of a number of recent research reports. BMO Capital Markets lowered their price target on shares of Barrick Gold from $27.00 to $26.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 17th. Jefferies Financial Group started coverage on shares of Barrick Gold in a research report on Thursday, February 29th. They set a “buy” rating and a $21.00 price target on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $18.00 price objective on shares of Barrick Gold in a research note on Monday, March 4th. Finally, National Bank Financial reiterated a “sector perform overweight” rating on shares of Barrick Gold in a research note on Monday, April 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $21.60.

View Our Latest Stock Analysis on GOLD

Barrick Gold Trading Up 0.3 %

The business’s 50 day moving average price is $16.85 and its two-hundred day moving average price is $16.48. The company has a current ratio of 3.32, a quick ratio of 2.49 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $29.58 billion, a price-to-earnings ratio of 20.55, a P/E/G ratio of 0.47 and a beta of 0.59.

Barrick Gold (NYSE:GOLD – Get Free Report) (TSE:ABX) last issued its quarterly earnings data on Wednesday, May 1st. The gold and copper producer reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.04. The business had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.74 billion. Barrick Gold had a net margin of 12.58% and a return on equity of 4.88%. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the business earned $0.14 EPS. On average, equities analysts predict that Barrick Gold Corp will post 1.06 earnings per share for the current fiscal year.

Barrick Gold Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Friday, May 31st were issued a dividend of $0.10 per share. This is a positive change from Barrick Gold’s previous quarterly dividend of $0.07. The ex-dividend date was Friday, May 31st. This represents a $0.40 annualized dividend and a yield of 2.37%. Barrick Gold’s dividend payout ratio (DPR) is presently 48.78%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Clean Yield Group bought a new position in Barrick Gold during the 1st quarter worth approximately $25,000. Principal Securities Inc. bought a new position in Barrick Gold during the 4th quarter worth approximately $26,000. EverSource Wealth Advisors LLC increased its stake in shares of Barrick Gold by 175.6% in 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 acquiring an additional 1,143 shares in the last quarter. Bruce G. Allen Investments LLC bought a new stake in shares of Barrick Gold in the 4th quarter valued at $35,000. Finally, LRI Investments LLC bought a new stake in shares of Barrick Gold in the 1st quarter valued at $37,000. Institutional investors own 62.85% of the company’s stock.

About Barrick Gold

(Get Free Report)

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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