Barrick Gold Corp (NYSE:GOLD) Receives $24.82 Average PT from Analysts

Shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) have been assigned an average rating of “Moderate Buy” from the eleven ratings firms that are currently covering the stock, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $24.45.

GOLD has been the topic of a number of recent analyst reports. Citigroup dropped their price objective on Barrick Gold from $23.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday, December 20th. TD Securities dropped their price objective on Barrick Gold from $26.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. CIBC downgraded Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research report on Monday, November 25th. Berenberg Bank upped their price objective on Barrick Gold from $37.00 to $38.00 in a research report on Tuesday, November 26th. Finally, Cibc World Mkts downgraded Barrick Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 25th.

Barrick Gold Trading Down 0.0 %

NYSE:GOLD opened at $15.77 on Friday. The firm has a market cap of $27.23 billion, a P/E ratio of 16.95, a PEG ratio of 0.31 and a beta of 0.54. 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 stock’s 50 day simple moving average is $16.45 and its 200-day simple moving average is $18.33. Barrick Gold has a 12-month low of $13.76 and a 12-month high of $21.35.

Barrick Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were paid a dividend of $0.10 per share. The ex-dividend date was Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a yield of 2.54%. Barrick Gold’s dividend payout ratio (DPR) is presently 43.01%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Ritholtz Wealth Management lifted its holdings in shares of Barrick Gold by 2.8% in the 3rd quarter. Ritholtz Wealth Management now owns 18,163 shares of the gold and copper producer’s stock worth $361,000 after purchasing an additional 502 shares during the last quarter. Greenleaf Trust lifted its holdings in shares of Barrick Gold by 2.1% in the 3rd quarter. Greenleaf Trust now owns 25,659 shares of the gold and copper producer’s stock worth $510,000 after purchasing an additional 540 shares during the last quarter. Moors & Cabot Inc. lifted its holdings in shares of Barrick Gold by 0.9% in the 3rd quarter. Moors & Cabot Inc. now owns 64,085 shares of the gold and copper producer’s stock worth $1,275,000 after purchasing an additional 579 shares during the last quarter. Chelsea Counsel Co. lifted its holdings in shares of Barrick Gold by 1.4% in the 3rd quarter. Chelsea Counsel Co. now owns 42,973 shares of the gold and copper producer’s stock worth $855,000 after purchasing an additional 590 shares during the last quarter. Finally, Silverlake Wealth Management LLC lifted its holdings in shares of Barrick Gold by 1.3% in the 3rd quarter. Silverlake Wealth Management LLC now owns 49,890 shares of the gold and copper producer’s stock worth $992,000 after purchasing an additional 628 shares during the last quarter. Institutional investors own 62.85% of the company’s stock.

About Barrick Gold

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.