Barrick Gold Corporation [NYSE: GOLD] loss -1.04% on the last trading session, reaching $20.99 price per share at the time. The company report on April 9, 2021 that Porgera Mine Set to Restart as PNG and Barrick Niugini Limited Agree New Partnership.
The Porgera gold mine is on track to resume operations later this year after the Papua New Guinea (PNG) government and Barrick Niugini Limited (BNL) agreed on a partnership for its future ownership and operation. Porgera has been on care and maintenance since April 2020 when the government declined to renew its special mining lease.
Under the terms of a binding framework agreement signed here by Governor General Sir Bob Dadae and Barrick Gold Corporation President and Chief Executive Mark Bristow, ownership of Porgera will be held in a new joint venture owned 51% by PNG stakeholders and 49% by BNL. BNL remains the operator of the mine.
Barrick Gold Corporation represents 1.78 billion in outstanding shares, while the company has a total market value of $37.24 billion with the latest information. GOLD stock price has been found in the range of $20.85 to $21.16.
If compared to the average trading volume of 19.06M shares, GOLD reached a trading volume of 15745341 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about 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 $30.48 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 1.90. 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.
JP Morgan have made an estimate for Barrick Gold Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on February 10, 2021. The new note on the price target was released on January 11, 2021, representing the official price target for Barrick Gold Corporation stock. Previously, the target price had yet another raise from $27 to $28, while Barclays kept a Overweight rating on GOLD stock.
The Average True Range (ATR) for Barrick Gold Corporation is set at 0.52, with the Price to Sales ratio for GOLD stock in the period of the last 12 months amounting to 2.96. The Price to Book ratio for the last quarter was 1.60, with the Price to Cash per share for the same quarter was set at 2.92. Price to Free Cash Flow for GOLD in the course of the last twelve months was 13.22 with Quick ratio for the last quarter at 2.80.
Trading performance analysis for GOLD stock
Barrick Gold Corporation [GOLD] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.75. With this latest performance, GOLD shares gained by 3.35% in over the last four-week period, additionally sinking by -23.03% over the last 6 months – not to mention a drop of -6.75% 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 55.13, with the RSI for the last a single of trading hit 58.76, and the three-weeks RSI is set at 51.95 for Barrick Gold Corporation [GOLD]. The present Moving Average for the last 50 days of trading for this stock 20.71, while it was recorded at 20.98 for the last single week of trading, and 25.05 for the last 200 days.
Barrick Gold Corporation [GOLD]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Barrick Gold Corporation [GOLD] shares currently have an operating margin of +35.31 and a Gross Margin at +37.36. Barrick Gold Corporation’s Net Margin is presently recorded at +18.56.
Return on Total Capital for GOLD is now 12.24, given the latest momentum, and Return on Invested Capital for the company is 8.44. Return on Equity for this stock inclined to 10.38, with Return on Assets sitting at 5.11. When it comes to the capital structure of this company, Barrick Gold Corporation [GOLD] has a Total Debt to Total Equity ratio set at 22.09. Additionally, GOLD Total Debt to Total Capital is recorded at 18.09, with Total Debt to Total Assets ending up at 11.08. Long-Term Debt to Equity for the company is recorded at 22.00, with the Long-Term Debt to Total Capital now at 18.02.
Receivables Turnover for the company is 17.50 with a Total Asset Turnover recorded at a value of 0.28.Barrick Gold Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.80 and a Current Ratio set at 3.70.
Barrick Gold Corporation [GOLD]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Barrick Gold Corporation posted 0.16/share EPS, while the average EPS was predicted by analysts to be reported at 0.16/share. 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 23.85%.
An analysis of insider ownership at Barrick Gold Corporation [GOLD]
There are presently around $21,166 million, or 72.10% of GOLD stock, in the hands of institutional investors. The top three institutional holders of GOLD stocks are: VAN ECK ASSOCIATES CORP with ownership of 84,311,925, which is approximately 5.792% of the company’s market cap and around 0.10% of the total institutional ownership; FMR LLC, holding 68,784,993 shares of the stock with an approximate value of $1.44 billion in GOLD stocks shares; and FLOSSBACH VON STORCH AG, currently with $1.13 billion in GOLD stock with ownership of nearly 14.536% of the company’s market capitalization.
Positions in Barrick Gold Corporation stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 374 institutional holders increased their position in Barrick Gold Corporation [NYSE:GOLD] by around 78,205,952 shares. Additionally, 321 investors decreased positions by around 155,051,976 shares, while 97 investors held positions by with 775,129,955 shares. The mentioned changes placed institutional holdings at 1,008,387,883 shares, according to the latest SEC report filing. GOLD stock had 145 new institutional investments in for a total of 14,238,185 shares, while 88 institutional investors sold positions of 36,886,952 shares during the same period.