Barrick Gold (NYSE:GOLD) Stock Price Up 0.1% – What’s Next?

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) shot up 0.1% on Thursday . The stock traded as high as $17.75 and last traded at $17.57. 21,836,268 shares were traded during mid-day trading, an increase of 1% from the average session volume of 21,586,721 shares. The stock had previously closed at $17.56.

Wall Street Analyst Weigh In

Several brokerages have commented on GOLD. Berenberg Bank upped their price objective on shares of Barrick Gold from $37.00 to $38.00 in a report on Tuesday. UBS Group lowered shares of Barrick Gold from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $23.00 to $22.00 in a report on Wednesday, October 30th. CIBC downgraded Barrick Gold from a “sector outperform” rating to a “neutral” rating in a report on Monday, November 25th. Raymond James decreased their target price on Barrick Gold from $26.00 to $25.00 and set an “outperform” rating for the company in a research report on Monday, November 25th. Finally, Cibc World Mkts lowered Barrick Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 25th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Barrick Gold has a consensus rating of “Moderate Buy” and a consensus price target of $25.60.

Barrick Gold Stock Up 0.1 %

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 has a market cap of $30.57 billion, a P/E ratio of 18.81, a PEG ratio of 0.48 and a beta of 0.56. The company’s 50 day moving average price is $19.20 and its two-hundred day moving average price is $18.53.

Barrick Gold Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.29%. The ex-dividend date is Friday, November 29th. Barrick Gold’s dividend payout ratio is presently 43.01%.

Institutional Investors Weigh In On Barrick Gold

Several hedge funds and other institutional investors have recently modified their holdings of GOLD. DCF Advisers LLC grew its holdings in Barrick Gold by 48.3% during the second quarter. DCF Advisers LLC now owns 107,500 shares of the gold and copper producer’s stock valued at $1,793,000 after purchasing an additional 35,000 shares during the period. Mizuho Markets Americas LLC grew its stake in shares of Barrick Gold by 21.7% during the 3rd quarter. Mizuho Markets Americas LLC now owns 2,317,580 shares of the gold and copper producer’s stock valued at $46,097,000 after acquiring an additional 413,012 shares during the period. Entropy Technologies LP purchased a new stake in Barrick Gold in the 3rd quarter worth approximately $3,711,000. Aigen Investment Management LP raised its stake in Barrick Gold by 330.5% during the 3rd quarter. Aigen Investment Management LP now owns 99,240 shares of the gold and copper producer’s stock worth $1,974,000 after acquiring an additional 76,186 shares during the period. Finally, Evexia Wealth LLC purchased a new position in Barrick Gold during the third quarter valued at approximately $2,382,000. 62.85% of the stock is currently 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.