Taking into account all relevant factors, Barrick Gold Corporation (NYSE:GOLD) scores 64% Buy on the technical side. The share price is also flashing a Hold from the Barchart TrendSpotter trading system. Investors starting out on a short-term path of investing should know that short terms indicators for GOLD averaged 50% Buy with an average daily trading volume over the past 20 days at 10051604 shares. Those using medium-term investment strategies, the shares have overall a 0.5% Buy signal while the 50-day average daily volume remained almost 10512233 shares. It’s also important to note that the stock, whose average daily volume over the 100 days as of this piece was 12826943 shares, is signaling100% Buy for long term investors.
The stock is lingering around the initial support level of $17.65. After this, the following support is at the zone of $17.39. Up until the time the GOLD stock hit levels beyond the current one, bulls should have no alarm. In terms of its momentum, the stock’s RSI hit 53.59 on the daily chart, and this may be a cause for concern. In case the price goes below $17.39 level on closing basis, there may be more profit booking with the stock growing weaker. Still, getting to the $18.07 level may cause a pull-back move approaching $18.23 mark.
Barrick Gold Corporation (GOLD) is most likely going to rise 14.64 percent in the coming 12 months, as per price target approximations compiled by finviz. Nevertheless, they have set the price target at a $25.31 as 12-month high price target. This represents a whopping 40.85 percent increase from the current trading price of shares. The 52-week median price target given by the analysts is $21.46, which means a return possibility of 19.42 percent in comparison with the closing price of the stock of $17.97 in recent trading session. The lowest price set for the stock is $16.96 which is just above -5.62 percent from GOLD share’s price at the end of session.
In the recent trading session, Barrick Gold Corporation (NYSE:GOLD) shares gained 0.36% or 0.07 points to reach at $17.97 with a thin trading volume of 3.199 million shares. It opened the trading session at $17.75, the shares rose to $17.98 and dropped to $17.56, the range by which the price of stock traded the whole session. The company now has a market cap of $31.4 billion and currently has 1.76 billion outstanding shares. Barrick Gold Corporation (GOLD) stock has accumulated 1.82 percent of market value in 21 trading days.
Stock analysts at Credit Suisse upped their rating on shares of Barrick Gold Corporation (NYSE:GOLD) from Neutral to a new rating of Outperform in their opinion released on January 16. BofA/Merrill analysts bumped their recommendation on GOLD stock from prior rating of Neutral to Buy in a separate flash note to investors on December 19. Analysts at Barclays issued an upgrade for the stock to Overweight from previous rating of Equal Weight, in a research note that dated back to December 11.
GOLD stock’s trailing 3-year beta is -0.26, meaning there will be a lower rate of return, although posing a lower risk. The part of a firm’s profit given to each outstanding share of regular stock was $0.45 share in the trailing 52 weeks. The stock’s value fallen -3.71 percent year to date (YTD) compared to a rise of 50.93 percent in 52 week’s period. The firm’s shares are still trading -10.49 percent below its 1-year high of $20.07 and 55.95 percent up from 52-week low of $11.52. The average consensus ranking on the company is 2.2, on a ranging where 5 is equal to a consensus sell rating. In other words, the mean analyst recommendations are ranking this stock as a sell.
Barrick Gold Corporation (GOLD) shares are trading at a P/E ratio of 37.4 times earnings posted in the trailing 12 months. The industry GOLD deals with has an average P/E of 49.17. Its P/B ratio is standing at 2.2X compared to the 3.05 industry average. It is additionally sporting a 3.51 on the Price-to-Sales ratio, compared to the industry’s P/S average of 1.15. Barrick Gold Corporation has a 25.6% gross profit margin, with its operating margin around 44.5%. Alongside this, the company’s net profit margin currently stands at 15.9%.
Past records have indicated that shares in Barrick Gold Corporation declined on 17 different earnings reaction days and we have yet to see whether this trend will play out and remain in place when the company reports upcoming earnings.