Barrick Gold Corp (NYSE:GOLD) Receives Average Rating of “Moderate Buy” from Analysts

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) has been given an average recommendation of “Moderate Buy” by the twelve analysts that are currently covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $24.82.

Several equities research analysts have recently issued reports on GOLD shares. TD Securities decreased their target price on Barrick Gold from $26.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th. Argus raised shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research report on Thursday, August 29th. Scotiabank dropped their target price on shares of Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating on the stock in a research note on Monday, November 25th. Jefferies Financial Group raised their price target on shares of Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Finally, Raymond James dropped their price objective on Barrick Gold from $26.00 to $25.00 and set an “outperform” rating on the stock in a research note on Monday, November 25th.

Barrick Gold Trading Up 0.8 %

NYSE:GOLD opened at $15.71 on Wednesday. Barrick Gold has a 52 week low of $13.76 and a 52 week high of $21.35. The firm has a 50-day moving average price of $18.08 and a two-hundred day moving average price of $18.48. The firm has a market cap of $27.35 billion, a price-to-earnings ratio of 16.89, a price-to-earnings-growth ratio of 0.47 and a beta of 0.53. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.06 and a current ratio of 2.65.

Barrick Gold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were given 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 dividend yield of 2.55%. Barrick Gold’s dividend payout ratio (DPR) is presently 43.01%.

Institutional Investors Weigh In On Barrick Gold

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Exchange Traded Concepts LLC lifted its holdings in shares of Barrick Gold by 198.1% during the 3rd 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 last quarter. Crewe Advisors LLC lifted 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 purchasing an additional 1,572 shares during the last quarter. Eastern Bank purchased a new position in shares of Barrick Gold in the 3rd quarter worth about $32,000. JFS Wealth Advisors LLC increased its position in shares of Barrick Gold by 451.7% during the 3rd quarter. JFS Wealth Advisors LLC now owns 1,909 shares of the gold and copper producer’s stock valued at $38,000 after purchasing an additional 1,563 shares during the last quarter. Finally, AlphaMark Advisors LLC purchased a new position in shares of Barrick Gold during the 3rd quarter valued at about $60,000. 62.85% of the stock is owned by hedge funds and other institutional investors.

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.