In the last trading session, 29.02 million shares of the Barrick Gold Corp. (NYSE:GOLD) were traded, and its beta was 0.57. Most recently the company’s share price was $16.64, and it changed around $0.43 or 2.65% from the last close, which brings the market valuation of the company to $29.21B. GOLD currently trades at a discount to its 52-week high of $20.75, offering almost -24.7% off that amount. The share price’s 52-week low was $13.76, which indicates that the current value has risen by an impressive 17.31% since then. We note from Barrick Gold Corp.’s average daily trading volume that its 10-day average is 20.66 million shares, with the 3-month average coming to 20.13 million.
Barrick Gold Corp. stock received a consensus recommendation rating of Buy, based on a mean score of 1.77. If we narrow it down even further, the data shows that 1 out of 21 analysts rate the stock as a Sell; another 4 rate it as Overweight. Among the rest, 6 recommended GOLD as a Hold, whereas 10 deemed it a Buy, and 0 rated it as Underweight. Barrick Gold Corp. is expected to report earnings per share of $0.19 for the current quarter.
Barrick Gold Corp. (NYSE:GOLD) trade information
Instantly GOLD has showed a green trend with a performance of 2.65% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently down -8.02% year-to-date, but still up 5.25% over the last five days. On the other hand, Barrick Gold Corp. (NYSE:GOLD) is 16.12% up in the 30-day period. We can see from the shorts that 13.17 million shares have been sold at a short interest cover period of 0.79 day(s).
The consensus price target as assigned by Wall Street analysts is $26.32, which translates to bulls needing to increase their stock price by 36.78% from its current value. Analyst projections state that GOLD is forecast to be at a low of $20 and a high of $31.
Barrick Gold Corp. (GOLD) estimates and forecasts
Barrick Gold Corp. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 13.66 percent over the past six months and at a 7.14% annual growth rate that is well above the industry average of 3.60%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 35.70% in revenue this quarter, and will report an increase of 5.30% in the next quarter. The year-over-year growth rate is expected to be 7.20%, up from the previous year.
Consensus estimates provided by 3 financial analysts predict the company will bring in an average of $2.82 billion in revenue for the current quarter. 2 analysts expect Barrick Gold Corp. to make $3.04 billion in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $2.64 billion and $2.94 billion respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 6.80%. Forecasts for the next quarter put sales growth at 3.50%.
Barrick Gold Corp. earnings are expected to increase by 14.36% in 2024, but the outlook is positive 6.70% per year for the next five years.
GOLD Dividends
Barrick Gold Corp.’s next quarterly earnings report is expected to be released around May 01 and May 06. The annual dividend yield of the stock is 2.40 percent and its annual dividend per share was 0.40. It is important to note, however, that the 2.40% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.
Barrick Gold Corp. (NYSE:GOLD)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 0.62% of Barrick Gold Corp. shares, and 64.60% of them are in the hands of institutional investors. The stock currently has a share float of 65.00%. Barrick Gold Corp. stock is held by 1,152 institutions, with Wellington Management Group, LLP being the largest institutional investor. By Dec 30, 2023, it held 5.73% of the shares, which is about 100.68 million shares worth $1.68 billion.
Van Eck Associates Corporation, with 4.61% or 80.93 million shares worth $1.35 billion as of Dec 30, 2023, holds the second largest percentage of outstanding shares.
VanEck ETF Trust-VanEck Gold Miners ETF and Income Fund of America Inc were the top two Mutual Funds as of Jan 30, 2024. The former held 67.42 million shares worth $1.12 billion, making up 3.84% of all outstanding shares. On the other hand, Income Fund of America Inc held roughly 32.18 million shares worth around $535.5 million, which represents about 1.83% of the total shares outstanding.
