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Barrick Gold Corporation (NYSE: GOLD): This Is The Year For Success Over The Next Few Months

In the latest trading session, 4.71 million Barrick Gold Corporation (NYSE:GOLD) shares changed hands as the company’s beta touched 0.36. With the company’s…

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This article was originally published by The Marketing Sentinal

In the latest trading session, 4.71 million Barrick Gold Corporation (NYSE:GOLD) shares changed hands as the company’s beta touched 0.36. With the company’s most recent per share price at $16.99 changed hands at -$0.2 or -1.16% at last look, the market valuation stands at $30.42B. GOLD’s current price is a discount, trading about -23.37% off its 52-week high of $20.96. The share price had its 52-week low at $12.97, which suggests the last value was 23.66% up since then. When we look at Barrick Gold Corporation’s average trading volume, we note the 10-day average is 11.61 million shares, with the 3-month average coming to 17.02 million.

Analysts gave the Barrick Gold Corporation (GOLD) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.20. If we narrow down to specifics, the data shows that 1 out of 24 analysts rate the stock as a Sell, with a further 2 assigning it an Overweight rating. Of the remaining, 8 recommended GOLD as a Hold, 13 felt it is a Buy and 0 rated the stock as Underweight. Barrick Gold Corporation’s EPS for the current quarter is expected to be $0.21.

Barrick Gold Corporation (NYSE:GOLD) trade information

Instantly GOLD was in red as seen in intraday trades today. With action 1.25%, the performance over the past five days has been green. The drop to weekly highs of 17.54 on Monday, 06/05/23 subtracted -1.16% to the stock’s daily price. The company’s shares are showing year-to-date downside of -1.11%, with the 5-day performance at 1.25% in the green. However, in the 30-day time frame, Barrick Gold Corporation (NYSE:GOLD) is -15.89% down. Looking at the short shares, we see there were 23.29 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 $23.35, meaning bulls need an upside of 27.24% from its recent market value. According to analyst projections, GOLD’s forecast low is $17.80 with $28.00 as the target high. To hit the forecast high, the stock’s price needs a -64.8% plunge from its current level, while the stock would need to soar -4.77% 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 better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 0.06% over the past 6 months, a 25.33% in annual growth rate that is considerably higher than the industry average of 23.20%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Barrick Gold Corporation will fall -12.50%, while the growth in revenue is estimated to hit 107.70% for the next quarter. Year-over-year growth is forecast to reach 11.80% up from the last financial year.

Consensus estimates given by 6 financial analysts project the company’s revenue in the current quarter to hit an average of $3 billion. 5 analysts are of the opinion that Barrick Gold Corporation’s revenue for the quarter ending Sep 2023 will be $3.42 billion. The company’s revenue for the corresponding quarters a year ago was $2.86 billion and $2.47 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 5.00%. The estimates for the next quarter sales put growth at 38.60%.

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.

GOLD Dividends

Barrick Gold Corporation is expected to release its next quarterly earnings report in July. The 2.33% annual yield figure for the share gives it an annual dividend of 0.40. It is important to note, however, that the 2.33% 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 0.64% of Barrick Gold Corporation shares while 63.14% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 63.55%. There are 63.14% institutions holding the Barrick Gold Corporation stock share, with Van Eck Associates Corporation the top institutional holder. As of Mar 30, 2023, the company held 4.38% of the shares, roughly 76.91 million GOLD shares worth $1.43 billion.

Vanguard Group, Inc. (The) holds the second largest percentage of outstanding shares, with 3.44% or 60.47 million shares worth $1.12 billion as of Mar 30, 2023.

Among Mutual Funds, the top two as of Mar 30, 2023 were VanEck ETF Trust-VanEck Gold Miners ETF and Income Fund of America Inc. With 65.39 million shares estimated at $1.21 billion under it, the former controlled 3.72% 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 $597.6 million.

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