Van Eck Associates Corp. recently announced the acquisition of new stake in Barrick Gold Corporation (NYSE:GOLD). The institutional investor has increased its shareholding in the Basic Materials company by 1.33% to 75.56 million shares with purchase of 1.0 million shares. This fresh investment now brings its stake to 4.27% valued currently at $1.14 billion. In addition, Flossbach von Storch AG raised its holdings by 2.64 million to 49.18 million shares. And First Eagle Investment Management has lifted its position by 61.07% or 16.26 million shares – to 42.9 million shares.
With over 15.75 million Barrick Gold Corporation (GOLD) shares trading Friday and a closing price of $15.62 on the day, the dollar volume was approximately $246.06 million. The shares have shown a negative half year performance of -23.91% and its price on 11/18/22 gained nearly 0.32%. Currently, there are 1.77B common shares owned by the public and among those 1.76B shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 24 analysts who have offered their price forecasts for GOLD have a consensus price objective of $20.85. The analysts have set the share’s price value over the next 12 months at a high of $27.00 and a low of $15.00. The average price target is 26.36% above its recent price level and a downside to the estimated low will see the stock lose -4.13% over that period. But an upside of 42.15% will see the stock hit the forecast high price target while median target price for the stock is $20.70.
The top 3 mutual fund holders in Barrick Gold Corporation are VanEck Gold Miners ETF, Vanguard Total International Stoc, and BlackRock Global Funds – World Go. VanEck Gold Miners ETF owns 67.75 million shares of the company’s stock, all valued at over $1.02 billion. The company sold 66128.0 shares recently to bring their total holdings to about 3.83% of the shares outstanding. Vanguard Total International Stoc bought 42910.0 shares to see its total holdings expand to 23.65 million shares valued at over $355.43 million and representing 1.34% of the shares outstanding. BlackRock Global Funds – World Go now owns shares totaling to 0.98% of the shares outstanding.
Shares of Barrick Gold Corporation (NYSE: GOLD) opened at $15.60, up $0.03 from a prior closing price of $15.57. However, the script later moved the day high at 15.63, up 0.32%. The company’s stock has a 5-day price change of -4.99% and -2.77% over the past three months. GOLD shares are trading -16.86% year to date (YTD), with the 12-month market performance down to -22.61% lower. It has a 12-month low price of $13.01 and touched a high of $25.78 over the same period. GOLD has an average intraday trading volume of 22.57 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 2.24%, 2.74%, and -16.98% respectively.
Institutional ownership of Barrick Gold Corporation (NYSE: GOLD) shares accounts for 62.90% of the company’s 1.77B shares outstanding. Mutual fund holders own 20.13%, while other institutional holders and individual stakeholders account for 40.16% and — respectively.
It has a market capitalization of $27.51B and a beta (3y monthly) value of 0.29. The stock’s trailing 12-month PE ratio is 14.67, while the earnings-per-share (ttm) stands at $1.06. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.51% over the week and 3.53% over the month.
Analysts forecast that Barrick Gold Corporation (GOLD) will achieve an EPS of $0.31 for the current quarter, $0.33 for the next quarter and $1.26 for 2022. The lowest estimate earnings-per-share for the quarter is $0.25 while analysts give the company a high EPS estimate of $0.35. Comparatively, EPS for the current quarter was $0.41 a year ago. Earnings per share for the fiscal year are expected to decrease by -13.00%, and -4.48% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 24 brokerage firm advisors rate Barrick Gold Corporation (GOLD) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 14 Wall Street analysts polled rate the stock as a buy, while 7 of the 24 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the GOLD, a number of firms have released research notes about the stock. Goldman stated their Neutral rating for the stock in a research note on September 12, 2022, with the firm’s price target at $18. JP Morgan on their part issued Neutral rating on February 10, 2021.