Considering all key technical indicators, a 24% Buy signal has occurred for Barrick Gold Corporation (NYSE:GOLD). The stock is also flashing a Buy from the Barchart TrendSpotter trading system. Traders hoping to speculate on the GOLD’s short-term trajectory should know that short terms indicators for the stock averaged 20% Sell with an average daily trading volume over the past 20 days at 13916471 shares. GOLD stock has overall a 0.25% Buy signal considering medium term indicators and the 50-day average daily volume remained almost 15451272 shares. It’s also worth noting that the stock, whose average daily volume over the 100 days prior to this writing was shares, is 67% Buy on the basis of long term indicators.
The share price is currently staying around the first support level of $13.32. Below this, the next support is placed in the zone of $13.21. Till the time, the GOLD stock trades above this level, bulls have nothing to fear. On momentum oscillators front, ‘RSI’ has touched 49.95 on daily chart, which may remain a cause for concern. If the price breaks below $13.21 level on closing basis, then we may see more profit booking and the stock may show further weakness. On the flipside, hitting the $13.56 mark may result into a pull-back move towards $13.69 level.
Barrick Gold Corporation (GOLD) is projected to climb by 6.18 percent over the next 12 months, according to price target estimates compiled by finviz. Meanwhile, they have set a $16.46-month high price target. This represents a whopping 22.65 percent increase from where shares are trading today. The 12-month median price target assigned by the analysts stands at $14.56, which represents a return potential of 8.49 percent when compared to the closing price of the stock of $13.42 on Friday, April 12. The lowest price target for the stock is $11 — slightly more than -18.03 percent from GOLD’s current share price.
GOLD shares dropped -0.03 points or -0.22 percent on Friday to $13.42 with a light trade volume of 11.986 million shares. After opening the session at $13.49, the shares went as high as $13.59 and as low as $13.35, the range within which the stock’s price traded throughout the day. The firm is left with a market cap of $23.6 billion and now has 1.76 billion shares outstanding. Barrick Gold Corporation (GOLD) stock has gained 2.36 percent of market value in 21 trading days.
Analysts at Deutsche Bank upped their rating on shares of Barrick Gold Corporation (NYSE:GOLD) from Hold to Buy in their opinion released on April 10. Desjardins analysts bumped their recommendation on GOLD stock from Hold to Buy in a separate flash note to investors on March 13. Analysts at TD Securities downgraded the stock to a Hold call from its previous Buy stance, in a research note that dated back to February 15.
GOLD stock has a trailing 3-year beta of -0.51, offering the possibility of a lower rate of return, but also posing less risk. The portion of a company’s profit allocated to each outstanding share of common stock was -$1.32 a share in the trailing twelve months. The stock’s value has fallen -0.89 percent year to date (YTD) against a rise of 4.19 percent in 12 month’s time. The company’s shares still trade -7.7 percent away from its 1-year high of $14.54 and 40.82 percent up from 52-week low of $9.53. The average consensus rating on the company is 2.9, on a scale where 5 equates to a unanimous sell rating. In short, the mean analyst recommendations are calling this stock a sell.
Shares of Barrick Gold Corporation (GOLD) are trading at a P/E ratio of 0 times earnings reported for the past 12 months. The industry GOLD operates in has an average P/E of 24.18. Its P/E ratio went as low as 15.41X and as high as 28.42 over the 5-year span. Further, it is sporting a 3.26 on the Price-to-Sales ratio. Compare this with the industry average P/S of 1.13. 27.9 percent is the gross profit margin for Barrick Gold Corporation and operating margin sits at 3.9 percent. Along with this, the net profit margin is -21.3 percent.
GOLD will be declaring its Q1 financial results on April 29. Analysts are forecasting revenue to climb 16.8 percent to $2.09B in the next fiscal quarter, while earnings are seen soaring by nearly -40 percent to $0.09 per share. History has shown that shares in Barrick Gold Corporation have gone down on 15 different earnings reaction days. In last reported earnings results, it earned $0.06 per share, better than the $0.05, adjusted, expected by Thomson Reuters consensus estimate. Revenue was $1.9B, worse than the $1.97B analysts expected. Earnings are estimated to increase by -241 percent this year, 20.36 percent next year and continue to increase by -2.84 percent annually for the next 5 years.
This post was originally published on *this site*