Barrick Gold Corp (NYSE:GOLD) Short Interest Update

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) was the target of a large increase in short interest in October. As of October 31st, there was short interest totalling 17,881,600 shares, an increase of 62.0% from the October 15th total of 11,035,200 shares. Approximately 1.0% of the shares of the company are short sold. Based on an average trading volume of 20,252,000 shares, the short-interest ratio is presently 0.9 days.

Barrick Gold Price Performance

GOLD traded up $0.17 during trading on Thursday, reaching $16.96. The stock had a trading volume of 6,652,581 shares, compared to its average volume of 21,317,625. Barrick Gold has a 1-year low of $13.76 and a 1-year high of $21.35. The firm has a market capitalization of $29.65 billion, a price-to-earnings ratio of 18.24, a price-to-earnings-growth ratio of 0.40 and a beta of 0.56. The stock has a 50 day moving average of $19.79 and a two-hundred day moving average of $18.48. The company has a quick ratio of 2.06, a current ratio of 2.65 and a debt-to-equity ratio of 0.14.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its quarterly earnings data on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.05. Barrick Gold had a return on equity of 5.82% and a net margin of 13.19%. The business had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same quarter in the prior year, the firm posted $0.19 earnings per share. The company’s revenue was up 11.6% on a year-over-year basis. As a group, equities analysts anticipate that Barrick Gold will post 1.29 EPS for the current fiscal year.

Barrick Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.36%. The ex-dividend date of this dividend is Friday, November 29th. Barrick Gold’s dividend payout ratio is presently 43.01%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GOLD. Jefferies Financial Group boosted their price objective on shares of Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Argus upgraded Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Thursday, August 29th. Royal Bank of Canada boosted their price objective on Barrick Gold from $21.00 to $22.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. TD Securities dropped their target price on Barrick Gold from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Finally, Raymond James lowered their price target on shares of Barrick Gold from $26.50 to $26.00 and set an “outperform” rating for the company in a research report on Thursday, September 26th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Barrick Gold currently has an average rating of “Moderate Buy” and an average target price of $23.90.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Clean Yield Group purchased a new stake in Barrick Gold during the first quarter valued at about $25,000. Exchange Traded Concepts LLC raised its holdings in shares of Barrick Gold by 198.1% during the third quarter. Exchange Traded Concepts LLC now owns 1,407 shares of the gold and copper producer’s stock valued at $28,000 after acquiring an additional 935 shares during the period. Crewe Advisors LLC lifted its position in shares of Barrick Gold by 628.8% in the 2nd quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer’s stock valued at $30,000 after acquiring an additional 1,572 shares in the last quarter. Jackson Grant Investment Advisers Inc. acquired a new position in Barrick Gold in the 2nd quarter worth approximately $32,000. Finally, Eastern Bank purchased a new position in Barrick Gold during the 3rd quarter worth approximately $32,000. Institutional investors and hedge funds own 62.85% of the company’s stock.

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.