TD Securities Cuts Barrick Gold (NYSE:GOLD) Price Target to $25.00

Barrick Gold (NYSE:GOLD) (TSE:ABX) had its target price reduced by TD Securities from $26.00 to $25.00 in a research report released on Tuesday morning,BayStreet.CA reports. They currently have a buy rating on the gold and copper producer’s stock.

GOLD has been the subject of several other reports. CIBC cut shares of Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research note on Monday. UBS Group cut shares of Barrick Gold from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $23.00 to $22.00 in a research note on Wednesday, October 30th. Royal Bank of Canada lifted their target price on shares of Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Raymond James lowered their price objective on shares of Barrick Gold from $26.00 to $25.00 and set an “outperform” rating for the company in a research note on Monday. Finally, Argus raised shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research note on Thursday, August 29th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $25.60.

Barrick Gold Trading Up 0.1 %

Shares of Barrick Gold stock opened at $17.57 on Tuesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.65 and a quick ratio of 2.06. Barrick Gold has a 1 year low of $13.76 and a 1 year high of $21.35. The company has a market capitalization of $30.71 billion, a P/E ratio of 18.89, a P/E/G ratio of 0.42 and a beta of 0.56. The business has a 50 day moving average price of $19.26 and a 200 day moving average price of $18.53.

Barrick Gold Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend is Friday, November 29th. Barrick Gold’s dividend payout ratio (DPR) is 43.01%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its holdings in shares of Barrick Gold by 19.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,839,056 shares of the gold and copper producer’s stock valued at $63,883,000 after acquiring an additional 628,477 shares in the last quarter. Silvercrest Asset Management Group LLC boosted its holdings in shares of Barrick Gold by 27.2% in the first quarter. Silvercrest Asset Management Group LLC now owns 56,105 shares of the gold and copper producer’s stock valued at $934,000 after acquiring an additional 12,000 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its holdings in shares of Barrick Gold by 10.7% in the first quarter. B. Riley Wealth Advisors Inc. now owns 12,895 shares of the gold and copper producer’s stock valued at $215,000 after acquiring an additional 1,244 shares in the last quarter. Tidal Investments LLC boosted its holdings in shares of Barrick Gold by 20.4% in the first quarter. Tidal Investments LLC now owns 39,196 shares of the gold and copper producer’s stock valued at $637,000 after acquiring an additional 6,639 shares in the last quarter. Finally, EdgePoint Investment Group Inc. boosted its holdings in shares of Barrick Gold by 38.8% in the first quarter. EdgePoint Investment Group Inc. now owns 18,170,814 shares of the gold and copper producer’s stock valued at $302,366,000 after acquiring an additional 5,080,510 shares in the last quarter. Institutional investors own 62.85% of the company’s stock.

Barrick Gold Company Profile

Barrick Gold Corporation is a sector-leading gold and copper producer.  Its shares trade on the New York Stock Exchange under the symbol GOLD and on the Toronto Stock Exchange under the symbol ABX.
 
In January 2019 Barrick merged with Randgold Resources and in July that year it combined its gold mines in Nevada, USA, with those of Newmont Corporation in a joint venture, Nevada Gold Mines, which is majority-owned and operated by Barrick.