Barclays took its Barrick Gold [GOLD] rating to the equivalent of Overweight from Equal Weight, in a research note dated 2021-01-06. Other analysts also revised their coverage, with Canaccord Genuity’s analysts upgrading the shares from “a Hold” rating to “a Buy” rating in a research note to investors issued in mid August. Meanwhile, Barclays had lowered its rating on GOLD to “an Equal weight” from the earlier “an Overweight”, in a research note produced for clients April 16, 2020. In addition, there was an upgrade from UBS on March 13, 2020. The rater changed GOLD from “a Neutral” to “a Buy”.
Is Barrick Gold Corporation [NYSE:GOLD] a Good Buy Right Now?
It should be noted that GOLD technical indicators for short, intermediate as well as long term progress have placed an overall average of 64% as Sell. The average signal changed from 88% Sell in the last week and compares with 72% Sell in the past month. Data from Barrick Gold Corporation’s Trend Spotter indicated that the signals were Bearish. The stock current average is 18.1 million shares in the past 20 days and the short term average signal indicates a 50% Sell. In the last 50 days, the average trading volume was 19.71 million shares while the medium term average advocated for 100% Sell. The average long-term signal stands at 50% Sell and the 100-day average volume stands at 18.54 million shares.
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GOLD Price Performance
On Wall Street, Barrick Gold Corporation [NYSE:GOLD] finished Tuesday’s session down -1.38% at $24.28. The stock went up to $24.95 at the same session while its lowest single day price was $24.09. In the last five days, it saw a rise of about 6.30%, Barrick Gold Corporation shares gained by almost 6.58% since the beginning of the year. However, the share price has dropped to as low as -22.23% below its one year high. On 01/05/21, the company shares recorded $24.95, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $23.62. The company’s shares have inclined by 32.03% in the past year. The 50-day SMA achieved is $24.57 while the 200-day SMA is $25.99. Volume dropped to 30.88 million from 41.04 million in the previous session.
Barrick Gold Corporation [GOLD] Valuation Measures
Notably, Barrick Gold Corporation [GOLD] stock can be classified as a good candidate in the listing of underestimated low-priced Gold companies to purchase soonest possible with the prevailing 12-month PE ratio of 14.27. The measure means the stock is exchanging at a discount as compared to the 18.91x trailing earnings of the industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a 3.61 PS value ratio is reported for the last one year of reported earnings. That is higher than the industry average of 1.82 which means GOLD serve an attractive investment opportunity compared to its competitors.
GOLD Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 23.93 level, and in case of violation of this particular level, it will cause more drop to 23.58 level. On the upper level, 25.30 is still the key resistance. The stock may increase to the subsequent resistance at 24.79. The Relative Strength Index (RSI) pinned on the 14-day chart is 55.71, implying a neutral technical stance while the MACD stands at 0.70, meaning price will decrease in the next trading period. Percent R indicator moved to 24.91%, implying bullish price movement. Stochastic %K at 65.74% suggest selling the stock.
What is the short interest in Barrick Gold Corporation?
Short interest in the Barrick Gold Corporation stock has surged, increasing by 3.11 million shares to total 11.58 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 14.69 million, data from Yahoo Finance shows. The decrease of -26.86% suggests the stock saw some decreased bullish sentiment.
Barrick Gold Corporation’s Biggest Shareholders: Who Owns Barrick Gold Corporation [GOLD]?
Filings by Fidelity Management & Research Co showed that the firm now holds a total of 83,003,473 shares or roughly 4.67% of the outstanding GOLD shares. This means their shares have reduced by -5,129,983 from the 83,003,473 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, Van Eck Associates Corp. updated stake is worth $1,844,157,549. Details in the latest 13F filings reveal that Fidelity disposed off their -0.30% stake valued at $1,315,706,662 while Flossbach von Storch AG cut theirs at $1,085,937,199. During the last quarter, Fidelity liquidated -169,093 of its shares in Barrick Gold Corporation while Flossbach von Storch AG sold -6,137,612 shares. The Vanguard Group, Inc.’s holdings currently number 46,169,577 shares at $1120997329.56. According to the firm’s last 13F report, BlackRock Investment Management shares in the company at filing stood at 44,013,329 shares, roughly $1,018,468,433.
GOLD Earnings Forecast For The Current Quarter
Barrick Gold Corporation [GOLD] is expected to report strong earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $3.38B and an earnings per share of $0.35 for Dec 2020. Looking further ahead, the company is expected to report revenue of $3.36B at an EPS of $0.36 for Mar 2021. The estimates represent upside of 6.00% and 24.72% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
GOLD Earnings Estimates For The Current Year
For the financial year, Barrick Gold Corporation [NYSE:GOLD] is expected to bring in revenue of $12.54B. The returns are nearly $2.82 billion higher than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at 1.16, higher than that of FY19 by $0.65. Estimates put this year’s earnings growth at 127.50%, 24.10% for the next, and at an annual 38.55% over the next 5-year period. As for sales, forecasts are for an increase of 29.00% in the current fiscal year and a further 6.00% over the following year.