In the last trading session, 9.44 million Barrick Gold Corporation (NYSE:GOLD) shares changed hands as the company’s beta touched 0.39. With the company’s per share price at $16.68 changed hands at $0.04 or 0.24% during last session, the market valuation stood at $28.74B. GOLD’s last price was a discount, traded about -24.4% off its 52-week high of $20.75. The share price had its 52-week low at $12.97, which suggests the last value was 22.24% up since then. When we look at Barrick Gold Corporation’s average trading volume, we note the 10-day average is 10.27 million shares, with the 3-month average coming to 13.26 million.
Analysts gave the Barrick Gold Corporation (GOLD) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.10. If we narrow down to specifics, the data shows that 0 out of 26 analysts rate the stock as a Sell, with a further 4 assigning it an Overweight rating. Of the remaining, 6 recommended GOLD as a Hold, 15 felt it is a Buy and 1 rated the stock as Underweight. Barrick Gold Corporation’s EPS for the current quarter is expected to be $0.28.
Barrick Gold Corporation (NYSE:GOLD) trade information
Instantly GOLD was in green as seen at the end of in last trading. With action 3.80%, the performance over the past five days has been green. The jump to weekly highs of 16.79 on Monday, 09/18/23 added 0.24% to the stock’s daily price. The company’s shares are showing year-to-date downside of -2.91%, with the 5-day performance at 3.80% in the green. However, in the 30-day time frame, Barrick Gold Corporation (NYSE:GOLD) is 6.51% up. Looking at the short shares, we see there were 35.75 million shares sold at short interest cover period of 2.71 days.
The consensus price target for the stock as assigned by Wall Street analysts is $22.71, meaning bulls need an upside of 26.55% from its current market value. According to analyst projections, GOLD’s forecast low is $17.20 with $30.00 as the target high. To hit the forecast high, the stock’s price needs a -79.86% plunge from its current level, while the stock would need to soar -3.12% for it to hit the projected low.
Barrick Gold Corporation (GOLD) estimates and forecasts
Data shows that the Barrick Gold Corporation share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -7.95% over the past 6 months, a 18.67% in annual growth rate that is considerably lower than the industry average of 19.10%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Barrick Gold Corporation will rise 115.40%, while the growth in revenue is estimated to hit 130.80% for the next quarter. Year-over-year growth is forecast to reach 9.30% up from the last financial year.
Consensus estimates given by 4 financial analysts project the company’s revenue in the current quarter to hit an average of $3.27 billion. 3 analysts are of the opinion that Barrick Gold Corporation’s revenue for the quarter ending Dec 2023 will be $3.38 billion. The company’s revenue for the corresponding quarters a year ago was $2.47 billion and $2.77 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 32.70%. The estimates for the next quarter sales put growth at 21.70%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -23.60%. The 2023 estimates are for Barrick Gold Corporation earnings to decrease by -78.50%, but the outlook for the next 5-year period is at 6.70% per year.
Barrick Gold Corporation is expected to release its next quarterly earnings report between November 01 and November 06. The 2.40% annual yield figure for the share gives it an annual dividend of 0.40. It is important to note, however, that the 2.40% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.
Barrick Gold Corporation (NYSE:GOLD)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.63% of Barrick Gold Corporation shares while 62.96% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 63.36%. There are 62.96% institutions holding the Barrick Gold Corporation stock share, with Van Eck Associates Corporation the top institutional holder. As of Jun 29, 2023, the company held 4.28% of the shares, roughly 75.22 million GOLD shares worth $1.27 billion.
Vanguard Group Inc holds the second largest percentage of outstanding shares, with 3.51% or 61.61 million shares worth $1.04 billion as of Jun 29, 2023.
Among Mutual Funds, the top two as of Aug 30, 2023 were VanEck ETF Trust-VanEck Gold Miners ETF and Income Fund of America Inc. With 65.17 million shares estimated at $1.06 billion under it, the former controlled 3.71% of total outstanding shares. On the other hand, Income Fund of America Inc held about 1.83% of the shares, roughly 32.18 million shares worth around $544.83 million.