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Barrick Gold Corporation (GOLD) Gains 4.30%, Causing Bears To Win

Barrick Gold Corporation (NYSE:GOLD) has a beta value of 0.29 and has seen 16.58 million shares traded in the last trading session. The company, currently…

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This article was originally published by The Marketing Sentinal

Barrick Gold Corporation (NYSE:GOLD) has a beta value of 0.29 and has seen 16.58 million shares traded in the last trading session. The company, currently valued at $28.20B, closed the last trade at $16.01 per share which meant it gained $0.66 on the day or 4.30% during that session. The GOLD stock price is -61.02% off its 52-week high price of $25.78 and 18.74% above the 52-week low of $13.01. If we look at the company’s 10-day average daily trading volume, we find that it stood at 17.8 million shares traded. The 3-month trading volume is 22.43 million shares.

Barrick Gold Corporation (NYSE:GOLD) trade information

Sporting 4.30% in the green in last session, the stock has traded in the green over the last five days, with the highest price hit on Tuesday, 11/22/22 when the GOLD stock price touched $16.01 or saw a rise of 0.87%. Year-to-date, Barrick Gold Corporation shares have moved -14.78%, while the 5-day performance has seen it change 0.06%. Over the past 30 days, the shares of Barrick Gold Corporation (NYSE:GOLD) have changed 6.38%. Short interest in the company has seen 39.81 million shares shorted with days to cover at 1.68.

Barrick Gold Corporation (GOLD) estimates and forecasts

Figures show that Barrick Gold Corporation shares have underperformed across the wider relevant industry. The company’s shares have lost -24.02% over the past 6 months, with this year growth rate of -31.90%, compared to -4.60% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2022 fiscal year revenue. Growth estimates for the current quarter are -24.40% and -5.70% for the next quarter. Revenue growth from the last financial year stood is estimated to be -2.80%.

4 analysts offering their estimates for the company have set an average revenue estimate of $3.18 billion for the current quarter. 4 have an estimated revenue figure of $3.26 billion for the next quarter concluding in Dec 2021. Year-ago sales stood $3.54 billion and $3.28 billion respectively for this quarter and the next, and analysts expect sales will shrink by -10.10% for the current quarter and -0.70% for the next.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 15.10% over the past 5 years.

GOLD Dividends

Barrick Gold Corporation is expected to release its next earnings report between February 14 and February 20 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 0.40 at a share yield of 2.50%. The company’s dividend yield has gone up over the past 12 months.

Barrick Gold Corporation (NYSE:GOLD)’s Major holders

Insiders own 0.59% of the company shares, while shares held by institutions stand at 63.89% with a share float percentage of 64.27%. Investors are also buoyed by the number of investors in a company, with Barrick Gold Corporation having a total of 1,175 institutions that hold shares in the company. The top two institutional holders are Van Eck Associates Corporation with over 74.57 million shares worth more than $1.32 billion. As of Jun 29, 2022, Van Eck Associates Corporation held 4.23% of shares outstanding.

The other major institutional holder is FMR, LLC, with the holding of over 70.21 million shares as of Jun 29, 2022. The firm’s total holdings are worth over $1.24 billion and represent 3.98% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are VanEck ETF Trust-VanEck Gold Miners ETF and Vanguard International Stock Index-Total Intl Stock Indx. As of Sep 29, 2022, the former fund manager holds about 3.66% shares in the company for having 64.41 million shares of worth $998.31 million while later fund manager owns 23.3 million shares of worth $366.67 million as of Jul 30, 2022, which makes it owner of about 1.32% of company’s outstanding stock.


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