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Is Barrick Gold Corporation (NYSE: GOLD) Stock Set To Rise More?

In the latest trading session, 5.39 million Barrick Gold Corporation (NYSE:GOLD) shares changed hands as the company’s beta touched 0.31. With the company’s…



This article was originally published by The Marketing Sentinal

In the latest trading session, 5.39 million Barrick Gold Corporation (NYSE:GOLD) shares changed hands as the company’s beta touched 0.31. With the company’s most recent per share price at $22.08 changed hands at -$0.23 or -1.05% at last look, the market valuation stands at $39.85B. GOLD’s current price is a discount, trading about -18.07% off its 52-week high of $26.07. The share price had its 52-week low at $17.27, which suggests the last value was 21.78% up since then. When we look at Barrick Gold Corporation’s average trading volume, we note the 10-day average is 20.34 million shares, with the 3-month average coming to 23.05 million.

Analysts gave the Barrick Gold Corporation (GOLD) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 1.90. 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, 7 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 $0.31.

Barrick Gold Corporation (NYSE:GOLD) trade information

Instantly GOLD was in red as seen in intraday trades today. With action -5.98%, the performance over the past five days has been red. The drop to weekly highs of 23.00 on Friday, 04/29/22 subtracted -1.05% to the stock’s daily price. The company’s shares are showing year-to-date upside of 17.42%, with the 5-day performance at -5.98% in the red. However, in the 30-day time frame, Barrick Gold Corporation (NYSE:GOLD) is -10.22% down. Looking at the short shares, we see there were 14.43 million shares sold at short interest cover period of 0.78 days.

The consensus price target for the stock as assigned by Wall Street analysts is $28.09, meaning bulls need an upside of 21.4% from its recent market value. According to analyst projections, GOLD’s forecast low is $21.50 with $32.08 as the target high. To hit the forecast high, the stock’s price needs a -45.29% plunge from its current level, while the stock would need to tank 2.63% 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 not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 18.65% over the past 6 months, a 1.72% in annual growth rate that is considerably lower than the industry average of 13.70%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2022 revenue estimates. The rating firms predict current quarter revenue for Barrick Gold Corporation will fall -24.40%, while the growth in revenue is estimated to hit -5.70% for the next quarter. Year-over-year growth is forecast to reach -2.80% down 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 $3.18 billion. 4 analysts are of the opinion that Barrick Gold Corporation’s revenue for the quarter ending Dec 2021 will be $3.26 billion. The company’s revenue for the corresponding quarters a year ago was $3.54 billion and $3.28 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -10.10%. The estimates for the next quarter sales put growth at -0.70%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 15.10%. The 2022 estimates are for Barrick Gold Corporation earnings to decrease by -13.00%, but the outlook for the next 5-year period is at -7.20% per year.

GOLD Dividends

Barrick Gold Corporation is expected to release its next quarterly earnings report between February 16 and February 21. The 1.61% annual yield figure for the share gives it an annual dividend of 0.36. It is important to note, however, that the 1.61% 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. During the past 5 years, the average dividend yield was 1.12 per year.

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

If we look at who the major shareholders are, we find that insiders hold 0.55% of Barrick Gold Corporation shares while 60.91% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 61.24%. There are 60.91% institutions holding the Barrick Gold Corporation stock share, with Van Eck Associates Corporation the top institutional holder. As of Dec 30, 2021, the company held 5.00% of the shares, roughly 88.94 million GOLD shares worth $1.69 billion.

Capital World Investors holds the second largest percentage of outstanding shares, with 3.64% or 64.79 million shares worth $1.17 billion as of Sep 29, 2021.

Among Mutual Funds, the top two as of Nov 29, 2021 were VanEck ETF Trust-VanEck Gold Miners ETF and Vanguard International Stock Index-Total Intl Stock Indx. With 75.74 million shares estimated at $1.44 billion under it, the former controlled 4.26% of total outstanding shares. On the other hand, Vanguard International Stock Index-Total Intl Stock Indx held about 1.28% of the shares, roughly 22.86 million shares worth around $419.93 million.

Author: Isaac Mitchell

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