Barrick Gold Corp.: Does GOLD Stock Make Heads Or Tails?

The trading price of Barrick Gold Corp. (NYSE:GOLD) closed higher on Tuesday, April 02, closing at $17.18, 1.90% higher than its previous close.

The company’s P/E ratio in the trailing 12-month period was 23.71, while its 5Y monthly beta was 0.41. In examining the 52-week price action we see that the stock hit a 52-week high of $20.75 and a 52-week low of $13.76. Over the past month, the stock has gained 14.99% in value.

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Barrick Gold Corp., whose market valuation is $30.16 billion at the time of this writing, is expected to release its quarterly earnings report May 01, 2024 – May 06, 2024. The dividend yield on the company stock is 2.33%, while its Forward Dividend ratio is 0.40. Investors’ optimism about the company’s current quarter earnings report is understandable.

A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of Barrick Gold Corp. No upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest GOLD has a Hold on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 50% Sell, while an average of long term indicators suggests that the stock is currently 50% Buy.

If we dig deeper into the stock’s outlook, we see that the stock’s PEG is 3.54, which symbolizes a positive outlook. A quick review shows that GOLD’s price is currently 8.71% off the SMA20 and 12.04% off the SMA50. The RSI metric on the 14-day chart is currently showing 70.85, and weekly volatility stands at 2.61%. When measured over the past 30 days, the indicator reaches 2.28%. Barrick Gold Corp. (NYSE:GOLD)’s beta value is currently sitting at 0.59, while the Average True Range indicator is currently displaying 0.42.

To see how Barrick Gold Corp. stock has been performing in comparison to its peers in the industry, here are the numbers: GOLD stock’s performance was 1.90% in the latest trading, and -7.63% in the past year. Barrick Gold Corp. has a P/E ratio of 23.71.

An evaluation of the daily trading volume of Barrick Gold Corp. (NYSE:GOLD) indicates that the 3-month average is 20.68 million. However, this figure has increased over the past 10 days to an average of 23.74 million.

Currently, records show that 1.76 billion of the company’s shares remain outstanding. The insiders hold 0.75% of outstanding shares, whereas institutions hold 65.36%. The stats also highlight that short interest as of Mar 15, 2024, stood at 13.17 million shares, resulting in a short ratio of 0.79 at that time. From this, we can conclude that short interest is 0.75% of the company’s total outstanding shares. It is noteworthy that short shares in March were down slightly from the previous month’s figure, which was 15.61 million. However, since the stock’s price has seen -5.03% year-to-date, investors’ interest is likely to be reignited due to its potential to move even lower.