The stock price of Barrick Gold Corp. (NYSE: GOLD) has dropped by -2.68 compared to previous close of 16.96. Despite this, the company has seen a gain of 2.71% in its stock price over the last five trading days. seekingalpha.com reported 2024-06-21 that Inflation has been persistently elevated so far in 2024. However, there are three main reasons why I think the Fed is going to wave the white flag on inflation and cut anyway. I share how investors can profit from this.
Is It Worth Investing in Barrick Gold Corp. (NYSE: GOLD) Right Now?
The price-to-earnings ratio for Barrick Gold Corp. (NYSE: GOLD) is 20.02x, which is above its average ratio. Moreover, the 36-month beta value for GOLD is 0.51. Analysts have varying opinions on the stock, with 1 analysts rating it as a “buy,” 2 as “overweight,” 1 as “hold,” and 0 as “sell.”
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The public float for GOLD is 1.74B and currently, short sellers hold a 0.93% of that float. On June 21, 2024, GOLD’s average trading volume was 23.66M shares.
GOLD’s Market Performance
The stock of Barrick Gold Corp. (GOLD) has seen a 2.71% increase in the past week, with a -7.27% drop in the past month, and a 4.40% gain in the past quarter. The volatility ratio for the week is 2.75%, and the volatility levels for the past 30 days are at 2.62% for GOLD. The simple moving average for the past 20 days is -1.32% for GOLD’s stock, with a 1.33% simple moving average for the past 200 days.
Analysts’ Opinion of GOLD
Many brokerage firms have already submitted their reports for GOLD stocks, with Jefferies repeating the rating for GOLD by listing it as a “Buy.” The predicted price for GOLD in the upcoming period, according to Jefferies is $21 based on the research report published on February 29, 2024 of the current year 2024.
GOLD Trading at -2.55% from the 50-Day Moving Average
After a stumble in the market that brought GOLD to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -12.90% of loss for the given period.
Volatility was left at 2.62%, however, over the last 30 days, the volatility rate increased by 2.75%, as shares sank -4.28% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -7.54% lower at present.
During the last 5 trading sessions, GOLD rose by +2.99%, which changed the moving average for the period of 200-days by +3.96% in comparison to the 20-day moving average, which settled at $16.69. In addition, Barrick Gold Corp. saw -8.76% in overturn over a single year, with a tendency to cut further losses.
Stock Fundamentals for GOLD
Current profitability levels for the company are sitting at:
- 0.23 for the present operating margin
- 0.3 for the gross margin
The net margin for Barrick Gold Corp. stands at 0.13. The total capital return value is set at 0.06. Equity return is now at value 6.27, with 3.15 for asset returns.
Based on Barrick Gold Corp. (GOLD), the company’s capital structure generated 0.17 points at debt to capital in total, while cash flow to debt ratio is standing at 0.8. The debt to equity ratio resting at 0.2. The interest coverage ratio of the stock is 8.0.
Currently, EBITDA for the company is 4.85 billion with net debt to EBITDA at 0.16. When we switch over and look at the enterprise to sales, we see a ratio of 2.59. The receivables turnover for the company is 17.57for trailing twelve months and the total asset turnover is 0.25. The liquidity ratio also appears to be rather interesting for investors as it stands at 3.32.
Conclusion
To wrap up, the performance of Barrick Gold Corp. (GOLD) has been mixed in recent times. The stock has received a mixed of “buy” and “hold” ratings from analysts. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
