Berenberg Bank Raises Barrick Gold (NYSE:GOLD) Price Target to $38.00

Barrick Gold (NYSE:GOLD) (TSE:ABX) had its price objective raised by Berenberg Bank from $37.00 to $38.00 in a research report report published on Tuesday,BayStreet.CA reports.

Several other analysts have also issued reports on the stock. Jefferies Financial Group upped their price target on shares of Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Cibc World Mkts lowered shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday. Raymond James dropped their price target on shares of Barrick Gold from $26.00 to $25.00 and set an “outperform” rating on the stock in a research report on Monday. CIBC lowered shares of Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research report on Monday. Finally, Royal Bank of Canada increased their price objective on shares of Barrick Gold from $21.00 to $22.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $25.60.

Barrick Gold Stock Performance

NYSE GOLD opened at $17.57 on Tuesday. The company has a current ratio of 2.65, a quick ratio of 2.06 and a debt-to-equity ratio of 0.14. The firm’s fifty day moving average price is $19.26 and its two-hundred day moving average price is $18.53. Barrick Gold has a 1 year low of $13.76 and a 1 year high of $21.35. The firm has a market capitalization of $30.71 billion, a P/E ratio of 18.89, a price-to-earnings-growth ratio of 0.42 and a beta of 0.56.

Barrick Gold Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend is Friday, November 29th. Barrick Gold’s dividend payout ratio is 43.01%.

Hedge Funds Weigh In On Barrick Gold

Hedge funds have recently bought and sold shares of the business. Exchange Traded Concepts LLC increased its position in Barrick Gold by 198.1% during the third quarter. Exchange Traded Concepts LLC now owns 1,407 shares of the gold and copper producer’s stock worth $28,000 after acquiring an additional 935 shares during the period. Clean Yield Group bought a new position in Barrick Gold during the first quarter worth about $25,000. Eastern Bank bought a new position in Barrick Gold during the third quarter worth about $32,000. Crewe Advisors LLC grew its stake in Barrick Gold by 628.8% during the second quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer’s stock worth $30,000 after buying an additional 1,572 shares in the last quarter. Finally, JFS Wealth Advisors LLC grew its stake in Barrick Gold by 451.7% during the third quarter. JFS Wealth Advisors LLC now owns 1,909 shares of the gold and copper producer’s stock worth $38,000 after buying an additional 1,563 shares in the last quarter. 62.85% of the stock is owned by institutional investors.

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.