why Barrick Gold Corporation [GOLD] is a Good Choice for Investors After New Price Target of $28.41


Barrick Gold Corporation [NYSE: GOLD] slipped around -0.07 points on Friday, while shares priced at $17.18 at the close of the session, down -0.41%. The company report on July 10, 2022 that Barrick Recognised as Key Socio-Economic Partner to Tanzania.

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All amounts expressed in US dollars.

Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) has been recognised as the largest contributor to government revenue in 2021, confirming its position as a key partner in the socio-economic development of Tanzania.

Barrick Gold Corporation stock is now -9.15% down from its year-to-date (YTD) trading value. GOLD Stock saw the intraday high of $17.47 and lowest of $17.03 per share. The company’s 52-week high price is 25.95, which means current price is +2.38% above from all time high which was touched on 03/08/22.

Compared to the average trading volume of 18.82M shares, GOLD reached a trading volume of 12370336 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 $28.41 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.

Bernstein have made an estimate for Barrick Gold Corporation shares, keeping their opinion on the stock as Mkt Perform, with their previous recommendation back on April 25, 2022. The new note on the price target was released on October 15, 2021, representing the official price target for Barrick Gold Corporation stock.

The Average True Range (ATR) for Barrick Gold Corporation is set at 0.68, with the Price to Sales ratio for GOLD stock in the period of the last 12 months amounting to 2.57. The Price to Book ratio for the last quarter was 1.26, with the Price to Cash per share for the same quarter was set at 3.31. Price to Free Cash Flow for GOLD in the course of the last twelve months was 33.25 with Quick ratio for the last quarter at 3.20.

How has GOLD stock performed recently?

Barrick Gold Corporation [GOLD] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.88. With this latest performance, GOLD shares dropped by -17.16% in over the last four-week period, additionally sinking by -7.05% over the last 6 months – not to mention a drop of -15.50% 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 29.37, with the RSI for the last a single of trading hit 26.08, and the three-weeks RSI is set at 31.81 for Barrick Gold Corporation [GOLD]. The present Moving Average for the last 50 days of trading for this stock 20.25, while it was recorded at 17.43 for the last single week of trading, and 20.54 for the last 200 days.

Barrick Gold Corporation [GOLD]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Barrick Gold Corporation [GOLD] shares currently have an operating margin of +35.96 and a Gross Margin at +37.66. Barrick Gold Corporation’s Net Margin is presently recorded at +16.94.

Return on Equity for this stock inclined to 8.47, with Return on Assets sitting at 4.28.

Barrick Gold Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.20 and a Current Ratio set at 4.00.

Earnings analysis for Barrick Gold Corporation [GOLD]

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 -6.02%.

Insider trade positions for Barrick Gold Corporation [GOLD]

There are presently around $17,506 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 80,569,163, which is approximately 49.177% of the company’s market cap and around 0.10% of the total institutional ownership; VAN ECK ASSOCIATES CORP, holding 76,839,511 shares of the stock with an approximate value of $1.32 billion in GOLD stocks shares; and CAPITAL WORLD INVESTORS, currently with $1.24 billion in GOLD stock with ownership of nearly 12.317% of the company’s market capitalization.

Positions in Barrick Gold Corporation stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 378 institutional holders increased their position in Barrick Gold Corporation [NYSE:GOLD] by around 147,567,234 shares. Additionally, 302 investors decreased positions by around 84,709,258 shares, while 147 investors held positions by with 786,685,534 shares. The mentioned changes placed institutional holdings at 1,018,962,026 shares, according to the latest SEC report filing. GOLD stock had 120 new institutional investments in for a total of 19,015,989 shares, while 91 institutional investors sold positions of 14,995,085 shares during the same period.