Barrick Gold Corporation [GOLD] fell -8.61% so far this year. What now?

Barrick Gold Corporation [NYSE: GOLD] plunged by -$0.19 during the normal trading session on Monday and reaching a high of $21.0417 during the day while it closed the day at $20.70. The company report on June 29, 2021 that Donlin Gold Affirms Its Strong Support for ADEC Commissioner’s Upholding of Section 401 Certification.

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Donlin Gold LLC (“Donlin Gold”), owned 50/50 by Barrick Gold Corporation (“Barrick”) (TSX: ABX) (NYSE: GOLD) and NOVAGOLD RESOURCES INC. (“NOVAGOLD”) (TSX, NYSE American: NG), provided an update relating to the Clean Water Act Section 401 Certification (the “401 Certification”) of their Donlin Gold project. An appeal has been filed against the decision by the Commissioner of the Alaska Department of Environmental Conservation (ADEC) in May 2021 to uphold the 401 Certification. It is being appealed in Alaska’s Superior Court by Earthjustice, a San Francisco-based activist law firm on behalf of the Orutsararmiut Native Council (ONC), the Tribal Council for Bethel, a village in the Yukon-Kuskokwim region.

Earthjustice’s original administrative appeal of the 401 Certification to the ADEC Commissioner followed several previous requests for informal review made by ONC of the issued 401 Certification in 2019 and 2020 which were granted by ADEC. We believe those informal reviews served to strengthen ADEC’s basis for their original decision. Having exhausted all administrative appeal options, Earthjustice filed an appeal in Alaska Superior Court on June 28, 2021, challenging the ADEC Commissioner’s decision to uphold the 401 Certification.

Barrick Gold Corporation stock has also loss -2.13% of its value over the past 7 days. However, GOLD stock has inclined by 3.27% in the 3 months of the year. Over the past six months meanwhile, it has lost -9.09% and lost -8.61% year-on date.

The market cap for GOLD stock reached $36.98 billion, with 1.78 billion shares outstanding and 1.77 billion shares in the current float. Compared to the average trading volume of 16.62M shares, GOLD reached a trading volume of 12053486 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say 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 $29.47 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 0.53, with the Price to Sales ratio for GOLD stock in the period of the last 12 months amounting to 2.88. The Price to Book ratio for the last quarter was 1.56, with the Price to Cash per share for the same quarter was set at 3.17. Price to Free Cash Flow for GOLD in the course of the last twelve months was 11.91 with Quick ratio for the last quarter at 3.00.

GOLD stock trade performance evaluation

Barrick Gold Corporation [GOLD] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.13. With this latest performance, GOLD shares dropped by -13.24% in over the last four-week period, additionally sinking by -9.09% over the last 6 months – not to mention a drop of -19.53% 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 30.04, with the RSI for the last a single of trading hit 23.55, and the three-weeks RSI is set at 35.38 for Barrick Gold Corporation [GOLD]. The present Moving Average for the last 50 days of trading for this stock 22.94, while it was recorded at 20.92 for the last single week of trading, and 23.58 for the last 200 days.

Barrick Gold Corporation [GOLD]: An insightful look at the core fundamentals

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 12.78, given the latest momentum, and Return on Invested Capital for the company is 8.81. Return on Equity for this stock inclined to 10.84, with Return on Assets sitting at 5.34. 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 18.27 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 3.00 and a Current Ratio set at 3.80.

Earnings per share (EPS) analysis for Barrick Gold Corporation [GOLD] stock

With the latest financial reports released by the company, Barrick Gold Corporation posted 0.23/share EPS, while the average EPS was predicted by analysts to be reported at 0.18/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 27.80%. 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 -6.20%.

Barrick Gold Corporation [GOLD]: Insider Ownership positions

There are presently around $20,193 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 88,560,757, which is approximately 5.039% of the company’s market cap and around 0.10% of the total institutional ownership; FLOSSBACH VON STORCH AG, holding 56,602,627 shares of the stock with an approximate value of $1.17 billion in GOLD stocks shares; and FMR LLC, currently with $1.11 billion in GOLD stock with ownership of nearly -21.811% of the company’s market capitalization.

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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 359 institutional holders increased their position in Barrick Gold Corporation [NYSE:GOLD] by around 77,812,234 shares. Additionally, 321 investors decreased positions by around 109,080,738 shares, while 111 investors held positions by with 788,629,202 shares. The mentioned changes placed institutional holdings at 975,522,174 shares, according to the latest SEC report filing. GOLD stock had 88 new institutional investments in for a total of 8,224,379 shares, while 107 institutional investors sold positions of 22,342,637 shares during the same period.

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