In the latest trading session, 4.73 million Barrick Gold Corp. (NYSE:GOLD) shares changed hands as the company’s beta touched 0.45. With the company’s most recent per share price at $16.31 changing hands around $0.52 or 3.26% at last look, the market valuation stands at $28.62B. GOLD’s current price is a discount, trading about -27.22% off its 52-week high of $20.75. The share price had its 52-week low at $13.82, which suggests the last value was 15.27% up since then. When we look at Barrick Gold Corp.’s average trading volume, we note the 10-day average is 13.0 million shares, with the 3-month average coming to 15.79 million.
Analysts gave the Barrick Gold Corp. (GOLD) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 1.78. If we narrow down to specifics, the data shows that 0 out of 23 analysts rate the stock as a Sell, with a further 3 assigning it an Overweight rating. Of the remaining, 6 recommended GOLD as a Hold, 13 felt it is a Buy and 1 rated the stock as Underweight. Barrick Gold Corp.’s EPS for the current quarter is expected to be $0.25.
Barrick Gold Corp. (NYSE:GOLD) trade information
Instantly GOLD is in green as seen in intraday trades today. With action 3.79%, the performance over the past five days has been green. The jump to weekly highs of 16.38 on Monday, 11/20/23 added 3.26% to the stock’s daily price. The company’s shares are showing year-to-date downside of -5.09%, with the 5-day performance at 3.79% in the green. However, in the 30-day time frame, Barrick Gold Corp. (NYSE:GOLD) is -1.48% down. Looking at the short shares, we see there were 37.83 million shares sold at short interest cover period of 1.61 days.
The consensus price target for the stock as assigned by Wall Street analysts is $21.16, meaning bulls need an upside of 22.92% from its recent market value. According to analyst projections, GOLD’s forecast low is $15.00 with $27.00 as the target high. To hit the forecast high, the stock’s price needs a -65.54% plunge from its current level, while the stock would need to tank 8.03% for it to hit the projected low.
Barrick Gold Corp. (GOLD) estimates and forecasts
Data shows that the Barrick Gold Corp. 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 -8.14% over the past 6 months, a 9.33% in annual growth rate that is considerably lower than the industry average of 9.60%. 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 Corp. will rise 92.30%, while the growth in revenue is estimated to hit 78.60% for the next quarter. Year-over-year growth is forecast to reach 2.70% 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 $3.08 billion. 3 analysts are of the opinion that Barrick Gold Corp.’s revenue for the quarter ending Mar 2024 will be $2.92 billion. The company’s revenue for the corresponding quarters a year ago was $2.77 billion and $2.64 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 11.10%. The estimates for the next quarter sales put growth at 10.60%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -27.65%. The 2023 estimates are for Barrick Gold Corp. earnings to increase by 9.40%, but the outlook for the next 5-year period is at 6.70% per year.
Barrick Gold Corp. is expected to release its next quarterly earnings report between February 13 and February 19. The 2.47% annual yield figure for the share gives it an annual dividend of 0.40. It is important to note, however, that the 2.47% 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 Corp. (NYSE:GOLD)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.63% of Barrick Gold Corp. 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 Corp. 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 Sep 29, 2023 were VanEck ETF Trust-VanEck Gold Miners ETF and Income Fund of America Inc. With 61.9 million shares estimated at $900.7 million under it, the former controlled 3.53% 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 $468.24 million.