Barrick Gold Corporation [NYSE: GOLD] stock went on a downward path that fall over -0.58% on Wednesday, amounting to a one-week price decrease of less than -5.94%. The company report on November 11, 2020 that Loncor and Barrick Further Strengthen Joint Venture Relationship in DRC.
Barrick exploration properties with drill ready targets in Ngayu Gold Belt to be added to existing Loncor Joint Venture.
Loncor Resources Inc. (“Loncor” or the “Company”) (TSX: “LN”; OTCQX: “LONCF”; FSE: “LO51”) is pleased to announce that it has entered into two new agreements with its joint venture partner Barrick Gold (DRC) Limited which further strengthen the Loncor and Barrick joint venture relationship in the Ngayu gold belt in the northeast of the Democratic Republic of the Congo (“DRC”). The ground covered by these agreements includes a number of priority, exploration targets already outlined by Barrick, two of which are ready for initial scout, core drilling. Total acreage under the various Barrick/Loncor joint ventures in Ngayu now totals approximately 2,000 square kilometres.
Over the last 12 months, GOLD stock rose by 56.87%. The one-year Barrick Gold Corporation stock forecast points to a potential upside of 24.92. The average equity rating for GOLD stock is currently 2.10, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $46.52 billion, with 1.78 billion shares outstanding and 1.77 billion shares in the current float. Compared to the average trading volume of 17.95M shares, GOLD stock reached a trading volume of 21208788 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Barrick Gold Corporation [GOLD]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for GOLD shares is $34.35 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on GOLD stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Canaccord Genuity have made an estimate for Barrick Gold Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on August 12, 2020. The new note on the price target was released on April 16, 2020, representing the official price target for Barrick Gold Corporation stock. Previously, the target price had yet another raise to $22, while UBS analysts kept a Buy rating on GOLD stock. On January 16, 2020, analysts increased their price target for GOLD shares from 21 to 22.
The Average True Range (ATR) for Barrick Gold Corporation is set at 0.97, with the Price to Sales ratio for GOLD stock in the period of the last 12 months amounting to 3.81. The Price to Book ratio for the last quarter was 2.01, with the Price to Cash per share for the same quarter was set at 2.63. Price to Free Cash Flow for GOLD in the course of the last twelve months was 20.90 with Quick ratio for the last quarter at 3.30.
GOLD Stock Performance Analysis:
Barrick Gold Corporation [GOLD] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.94. With this latest performance, GOLD shares dropped by -7.76% in over the last four-week period, additionally sinking by -4.97% over the last 6 months – not to mention a rise of 56.87% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for GOLD stock in for the last two-week period is set at 39.13, with the RSI for the last a single of trading hit 37.60, and the three-weeks RSI is set at 42.09 for Barrick Gold Corporation [GOLD]. The present Moving Average for the last 50 days of trading for this stock 27.98, while it was recorded at 27.36 for the last single week of trading, and 25.17 for the last 200 days.
Insight into Barrick Gold Corporation Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Barrick Gold Corporation [GOLD] shares currently have an operating margin of +22.35 and a Gross Margin at +24.36. Barrick Gold Corporation’s Net Margin is presently recorded at +40.94.
Return on Total Capital for GOLD is now 8.65, given the latest momentum, and Return on Invested Capital for the company is 20.01. Return on Equity for this stock inclined to 27.60, with Return on Assets sitting at 11.90. When it comes to the capital structure of this company, Barrick Gold Corporation [GOLD] has a Total Debt to Total Equity ratio set at 25.83. Additionally, GOLD Total Debt to Total Capital is recorded at 20.53, with Total Debt to Total Assets ending up at 12.47. Long-Term Debt to Equity for the company is recorded at 24.08, with the Long-Term Debt to Total Capital now at 19.14.
Receivables Turnover for the company is 17.75 with a Total Asset Turnover recorded at a value of 0.29.Barrick Gold Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.30 and a Current Ratio set at 4.50.
GOLD Stock EPS
With the latest financial reports released by the company, Barrick Gold Corporation posted 0.17/share EPS, while the average EPS was predicted by analysts to be reported at 0.14/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 21.40%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for GOLD. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Barrick Gold Corporation go to 35.69%.
Barrick Gold Corporation [GOLD] Insider Position Details
There are presently around $28,635 million, or 72.10% of GOLD stock, in the hands of institutional investors. The top three institutional holders of GOLD stocks are: FMR LLC with ownership of 90,914,309, which is approximately -0.761% of the company’s market cap and around 0.10% of the total institutional ownership; VAN ECK ASSOCIATES CORP, holding 87,451,127 shares of the stock with an approximate value of $2.27 billion in GOLD stocks shares; and FIL LTD, currently with $1.55 billion in GOLD stock with ownership of nearly 12.088% of the company’s market capitalization.
Positions in Barrick Gold Corporation stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 313 institutional holders increased their position in Barrick Gold Corporation [NYSE:GOLD] by around 114,978,748 shares. Additionally, 296 investors decreased positions by around 120,365,329 shares, while 103 investors held positions by with 868,536,465 shares. The mentioned changes placed institutional holdings at 1,103,880,542 shares, according to the latest SEC report filing. GOLD stock had 106 new institutional investments in for a total of 49,636,087 shares, while 74 institutional investors sold positions of 24,885,721 shares during the same period.