Barrick Gold Corp. (NYSE: GOLD) Investors To Make Big Returns Again

In the last trading session, 19.22 million Barrick Gold Corp. (NYSE:GOLD) shares changed hands as the company’s beta touched 0.58. With the company’s per share price at $14.73 changed hands at $0.06 or 0.41% during last session, the market valuation stood at $25.86B. GOLD’s last price was a discount, traded about -40.87% 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 6.18% up since then. When we look at Barrick Gold Corp.’s average trading volume, we note the 10-day average is 20.57 million shares, with the 3-month average coming to 1.11.

Barrick Gold Corp. (NYSE:GOLD) trade information

Instantly GOLD was in green as seen at the end of in last trading. With action -2.90%, the performance over the past five days has been red. The jump to weekly highs of 15.23 added 0.41% to the stock’s daily price. The company’s shares are showing year-to-date downside of -18.57%, with the 5-day performance at -2.90% in the red. However, in the 30-day time frame, Barrick Gold Corp. (NYSE:GOLD) is -14.11% down. Looking at the short shares, we see there were 12.32 million shares sold at short interest cover period of 0.65 days.

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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 -12.89% over the past 6 months, a 4.00% in annual growth rate that is considerably lower than the industry average of 7.30%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Barrick Gold Corp. will rise 61.50%, while the growth in revenue is estimated to hit 71.40% for the next quarter. Year-over-year growth is forecast to reach 3.70% up from the last financial year.

Consensus estimates given by 5 financial analysts project the company’s revenue in the current quarter to hit an average of $3.15 billion. 4 analysts are of the opinion that Barrick Gold Corp.’s revenue for the quarter ending Mar 2024 will be $3.05 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 13.70%. The estimates for the next quarter sales put growth at 15.30%.

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 2024 estimates are for Barrick Gold Corp. earnings to increase by 4.76%, but the outlook for the next 5-year period is at 6.70% per year.

GOLD Dividends

Barrick Gold Corp. is expected to release its next quarterly earnings report on February 14. The 2.72% annual yield figure for the share gives it an annual dividend of 0.40. It is important to note, however, that the 2.72% 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 0.61% of Barrick Gold Corp. shares while 62.38% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 62.76%. There are 62.38% 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.

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