Barrick Gold Corp (NYSE:GOLD) Given Average Recommendation of “Moderate Buy” by Brokerages

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) has received a consensus rating of “Moderate Buy” from the twelve research firms that are presently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $24.82.

Several analysts recently issued reports on GOLD shares. Citigroup dropped their target price 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 lowered their price target on Barrick Gold from $26.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. Cibc World Mkts downgraded Barrick Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, November 25th. Berenberg Bank boosted their target price on shares of Barrick Gold from $37.00 to $38.00 in a report on Tuesday, November 26th. Finally, Scotiabank cut their price target on shares of Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating for the company in a research note on Monday, November 25th.

Barrick Gold Stock Down 0.4 %

Barrick Gold stock opened at $15.68 on Wednesday. The company has a fifty day simple moving average of $17.71 and a 200 day simple moving average of $18.46. The company has a current ratio of 2.65, a quick ratio of 2.06 and a debt-to-equity ratio of 0.14. Barrick Gold has a 1-year low of $13.76 and a 1-year high of $21.35. The company has a market cap of $27.30 billion, a P/E ratio of 16.86, a price-to-earnings-growth ratio of 0.47 and a beta of 0.53.

Barrick Gold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were issued a $0.10 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.40 annualized dividend and a yield of 2.55%. Barrick Gold’s dividend payout ratio is currently 43.01%.

Institutional Investors Weigh In On Barrick Gold

Institutional investors have recently made changes to their positions in the company. Exchange Traded Concepts LLC boosted its position in shares of Barrick Gold by 198.1% in the third quarter. Exchange Traded Concepts LLC now owns 1,407 shares of the gold and copper producer’s stock valued at $28,000 after acquiring an additional 935 shares during the period. Crewe Advisors LLC boosted its holdings in Barrick Gold by 628.8% in the 2nd quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer’s stock valued at $30,000 after purchasing an additional 1,572 shares during the period. Eastern Bank acquired a new position in shares of Barrick Gold during the 3rd quarter worth approximately $32,000. JFS Wealth Advisors LLC increased its holdings in shares of 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 purchasing an additional 1,563 shares during the period. Finally, AlphaMark Advisors LLC acquired a new stake in shares of Barrick Gold in the third quarter valued at approximately $60,000. 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.