Barrick Gold Corp (NYSE:GOLD) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) have been assigned a consensus recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $24.82.

Several research analysts have recently issued reports on GOLD shares. TD Securities lowered their price objective on Barrick Gold from $26.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th. Citigroup decreased their target price on Barrick Gold from $23.00 to $17.00 and set a “neutral” rating for the company in a research report on Friday, December 20th. CIBC downgraded Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research note on Monday, November 25th. Raymond James reduced their price objective on Barrick Gold from $26.00 to $25.00 and set an “outperform” rating for the company in a research note on Monday, November 25th. Finally, Cibc World Mkts downgraded Barrick Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 25th.

Institutional Investors Weigh In On Barrick Gold

Hedge funds have recently made changes to their positions in the business. Principal Financial Group Inc. boosted its holdings in shares of Barrick Gold by 19.9% during the third quarter. Principal Financial Group Inc. now owns 483,613 shares of the gold and copper producer’s stock worth $9,630,000 after purchasing an additional 80,366 shares during the last quarter. Mizuho Markets Americas LLC lifted its stake in shares of Barrick Gold by 21.7% during 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 acquired a new position in shares of Barrick Gold during the third quarter worth about $3,711,000. Aigen Investment Management LP lifted its stake in shares of Barrick Gold by 330.5% in the third 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 in the last quarter. Finally, Evexia Wealth LLC acquired a new position in shares of Barrick Gold in the third quarter worth about $2,382,000. Institutional investors and hedge funds own 62.85% of the company’s stock.

Barrick Gold Trading Up 1.6 %

GOLD opened at $16.00 on Friday. Barrick Gold has a 12 month low of $13.76 and a 12 month high of $21.35. The stock has a market capitalization of $27.85 billion, a price-to-earnings ratio of 17.20, a PEG ratio of 0.28 and a beta of 0.54. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.65 and a quick ratio of 2.06. The business has a fifty day moving average price of $16.52 and a 200 day moving average price of $18.35.

Barrick Gold Announces Dividend

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

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.