Barrick Gold (NYSE:GOLD) Downgraded by Scotiabank to Sector Perform

Scotiabank downgraded shares of Barrick Gold (NYSE:GOLDFree Report) (TSE:ABX) from a sector outperform rating to a sector perform rating in a research note released on Tuesday, MarketBeat.com reports. Scotiabank currently has $19.00 price target on the gold and copper producer’s stock, down from their previous price target of $23.00.

GOLD has been the topic of several other reports. Berenberg Bank lifted their price objective on Barrick Gold from $37.00 to $38.00 in a research note on Tuesday, November 26th. CIBC downgraded shares of Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research note on Monday, November 25th. Raymond James cut their target price on shares of Barrick Gold from $26.00 to $25.00 and set an “outperform” rating on the stock in a research note on Monday, November 25th. UBS Group cut shares of Barrick Gold from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $23.00 to $22.00 in a research report on Wednesday, October 30th. Finally, Cibc World Mkts lowered Barrick Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 25th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Barrick Gold has a consensus rating of “Moderate Buy” and an average target price of $24.45.

View Our Latest Research Report on Barrick Gold

Barrick Gold Trading Down 0.2 %

GOLD stock opened at $15.98 on Tuesday. Barrick Gold has a 52 week low of $13.76 and a 52 week high of $21.35. The company has a market cap of $27.59 billion, a price-to-earnings ratio of 17.18, a PEG ratio of 0.30 and a beta of 0.54. The company has a quick ratio of 2.06, a current ratio of 2.65 and a debt-to-equity ratio of 0.14. The business has a fifty day simple moving average of $16.50 and a 200-day simple moving average of $18.36.

Barrick Gold Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date of this dividend was Friday, November 29th. Barrick Gold’s payout ratio is 43.01%.

Institutional Trading of Barrick Gold

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. grew its holdings in Barrick Gold by 19.9% during the 3rd quarter. Principal Financial Group Inc. now owns 483,613 shares of the gold and copper producer’s stock worth $9,630,000 after acquiring an additional 80,366 shares in the last quarter. Mizuho Markets Americas LLC grew its stake in Barrick Gold by 21.7% in the third quarter. Mizuho Markets Americas LLC now owns 2,317,580 shares of the gold and copper producer’s stock worth $46,097,000 after purchasing an additional 413,012 shares in the last quarter. Entropy Technologies LP bought a new stake in Barrick Gold in the third quarter valued at about $3,711,000. Aigen Investment Management LP raised its stake in Barrick Gold by 330.5% during the third quarter. Aigen Investment Management LP now owns 99,240 shares of the gold and copper producer’s stock valued at $1,974,000 after buying an additional 76,186 shares in the last quarter. Finally, Evexia Wealth LLC acquired a new stake in Barrick Gold during the third quarter valued at approximately $2,382,000. Institutional investors own 62.85% of the company’s stock.

Barrick Gold Company Profile

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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.

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Analyst Recommendations for Barrick Gold (NYSE:GOLD)

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