Barrick Gold (NYSE:GOLD) Trading 0.3% Higher – Here’s What Happened

Shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) were up 0.3% during trading on Friday . The stock traded as high as $18.23 and last traded at $18.18. Approximately 4,062,380 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 21,465,635 shares. The stock had previously closed at $18.12.

Analyst Ratings Changes

GOLD has been the topic of a number of recent research reports. Argus upgraded shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a report on Thursday, August 29th. Raymond James cut their target price on Barrick Gold from $26.50 to $26.00 and set an “outperform” rating on the stock in a report on Thursday, September 26th. Royal Bank of Canada increased their price objective on Barrick Gold from $21.00 to $22.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. UBS Group cut Barrick Gold from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $23.00 to $22.00 in a research report on Wednesday, October 30th. Finally, TD Securities dropped their price target on shares of Barrick Gold from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $23.90.

Barrick Gold Trading Up 0.6 %

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’s fifty day moving average is $19.53 and its two-hundred day moving average is $18.49. The firm has a market cap of $31.85 billion, a price-to-earnings ratio of 19.55, a price-to-earnings-growth ratio of 0.42 and a beta of 0.56.

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 given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend is Friday, November 29th. Barrick Gold’s dividend payout ratio is 43.01%.

Hedge Funds Weigh In On Barrick Gold

Several institutional investors have recently modified their holdings of GOLD. Ritholtz Wealth Management grew its stake in shares of Barrick Gold by 2.8% during the 3rd quarter. Ritholtz Wealth Management now owns 18,163 shares of the gold and copper producer’s stock worth $361,000 after acquiring an additional 502 shares in the last quarter. Greenleaf Trust lifted its stake in shares of Barrick Gold by 2.1% during the 3rd quarter. Greenleaf Trust now owns 25,659 shares of the gold and copper producer’s stock worth $510,000 after buying an additional 540 shares during the last quarter. Moors & Cabot Inc. raised its holdings in Barrick Gold by 0.9% in the 3rd quarter. Moors & Cabot Inc. now owns 64,085 shares of the gold and copper producer’s stock valued at $1,275,000 after acquiring an additional 579 shares during the period. Chelsea Counsel Co. lifted its position in Barrick Gold by 1.4% during the third quarter. Chelsea Counsel Co. now owns 42,973 shares of the gold and copper producer’s stock worth $855,000 after acquiring an additional 590 shares during the last quarter. Finally, Silverlake Wealth Management LLC boosted its holdings in shares of Barrick Gold by 1.3% during the third quarter. Silverlake Wealth Management LLC now owns 49,890 shares of the gold and copper producer’s stock worth $992,000 after acquiring an additional 628 shares during the period. 62.85% of the stock is currently owned by institutional investors and hedge funds.

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.