Barrick Gold Corp (ABX) Stock Rating Lowered by Vetr Inc.
Vetr downgraded shares of Barrick Gold Corp (NYSE:ABX) (TSE:ABX) from a buy rating to a hold rating in a research note issued to investors on Wednesday. The firm currently has $19.30 price objective on the stock.
Several other research firms have also recently weighed in on ABX. Clarkson Capital cut Barrick Gold Corp from a buy rating to a neutral rating in a report on Wednesday, February 15th. TheStreet raised Barrick Gold Corp from a c rating to a b- rating in a report on Thursday, February 23rd. Zacks Investment Research cut Barrick Gold Corp from a hold rating to a sell rating in a report on Monday, February 13th. Berenberg Bank reaffirmed a sell rating and issued a $15.20 price target on shares of Barrick Gold Corp in a report on Thursday, February 16th. Finally, Credit Suisse Group AG reaffirmed a buy rating and issued a $23.00 price target on shares of Barrick Gold Corp in a report on Wednesday, February 15th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $21.92.
Shares of Barrick Gold Corp (NYSE:ABX) opened at 19.06 on Wednesday. The company has a 50-day moving average price of $18.87 and a 200 day moving average price of $17.11. The company has a market capitalization of $22.22 billion, a PE ratio of 34.04 and a beta of -0.24. Barrick Gold Corp has a one year low of $13.04 and a one year high of $23.47.
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The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 15th. Stockholders of record on Tuesday, February 28th were given a $0.03 dividend. This is a positive change from Barrick Gold Corp’s previous quarterly dividend of $0.02. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date was Friday, February 24th. Barrick Gold Corp’s dividend payout ratio (DPR) is currently -3.90%.
Several large investors have recently modified their holdings of the company. Centre Asset Management LLC acquired a new stake in shares of Barrick Gold Corp during the second quarter worth $1,616,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Barrick Gold Corp during the second quarter worth $3,871,000. IFP Advisors Inc raised its stake in shares of Barrick Gold Corp by 98.5% in the second quarter. IFP Advisors Inc now owns 15,337 shares of the company’s stock worth $327,000 after buying an additional 7,611 shares in the last quarter. Cohen & Steers Inc. raised its stake in shares of Barrick Gold Corp by 36.0% in the second quarter. Cohen & Steers Inc. now owns 181,326 shares of the company’s stock worth $3,871,000 after buying an additional 47,970 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of Barrick Gold Corp by 16.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 21,934 shares of the company’s stock worth $468,000 after buying an additional 3,172 shares in the last quarter. Hedge funds and other institutional investors own 58.61% of the company’s stock.
About Barrick Gold Corp
Barrick Gold Corporation (Barrick) is a gold mining company. The Company is principally engaged in the production and sale of gold and copper, as well as related activities, such as exploration and mine development. The Company’s segments include Goldstrike, Cortez, Pueblo Viejo, Lagunas Norte, Veladero, Turquoise Ridge, Acacia Mining plc (Acacia), Pascua-Lama and Other Mines.
To view Vetr’s full report, visit Vetr’s official website.
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