Barrick Gold Corp. [NYSE: GOLD] gained 2.65% or 0.43 points to close at $16.64 with a heavy trading volume of 29015830 shares. The company report on March 28, 2024 at 5:20 PM that Strategy-Driven Barrick Builds on Value Foundation.
“This Barrick is guided by a long-term, future-facing strategy, finely attuned to the demands and expectations of a rapidly changing world. Its aim is not only to secure the company’s sustainable profitability but also to make sustainability, in every sense, the core of its activities. Barrick’s pioneering partnership philosophy, a key component of its commitment to sustainability, has already transformed the once-derelict Tanzanian mines into a complex with Tier One1 potential; reconstituted the Reko Diq project in Pakistan and is now developing it into one of the world’s largest copper-gold producers; and after three years of negotiation, achieved an agreement for the re-opening of the Porgera gold mine in Papua New Guinea, where mining and processing have restarted and will be ramping up over the next two quarters,” he says.
The daily chart for GOLD points out that the company has recorded 13.66% gains over the past six months.
If we look at the average trading volume of 20.13M shares, GOLD reached to a volume of 29015830 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 Corp. [GOLD]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for GOLD shares is $20.43 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 1.77. 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.
Jefferies have made an estimate for Barrick Gold Corp. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 29, 2024. The new note on the price target was released on February 26, 2024, representing the official price target for Barrick Gold Corp. stock.
The Average True Range (ATR) for Barrick Gold Corp. is set at 0.42, 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 1.25, with the Price to Cash per share for the same quarter was set at 2.36. Price to Free Cash Flow for GOLD in the course of the last twelve months was 32.08 with Quick ratio for the last quarter at 2.40.
Trading performance analysis for GOLD stock
Barrick Gold Corp. [GOLD] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.25. With this latest performance, GOLD shares gained by 16.12% in over the last four-week period, additionally plugging by 13.66% over the last 6 months – not to mention a drop of -10.83% 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 65.80, with the RSI for the last a single of trading hit 71.60, and the three-weeks RSI is set at 61.17 for Barrick Gold Corp. [GOLD]. The present Moving Average for the last 50 days of trading for this stock 15.31, while it was recorded at 15.89 for the last single week of trading, and 16.18 for the last 200 days.
Barrick Gold Corp. [GOLD]: A deeper dive into fundamental analysis
Barrick Gold Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.40 and a Current Ratio set at 3.16.
Barrick Gold Corp. [GOLD]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Barrick Gold Corp. posted 0.14/share EPS, while the average EPS was predicted by analysts to be reported at 0.11/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 27.30%. 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 Corp. go to 6.70%.
An analysis of Institutional ownership at Barrick Gold Corp. [GOLD]
The top three institutional holders of GOLD stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in GOLD stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in GOLD stock with ownership which is approximately 5.8325%.
