Barrick Gold (NYSE:GOLD) Trading Up 0.5% – Still a Buy?

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX)’s stock price rose 0.5% during trading on Wednesday . The stock traded as high as $17.88 and last traded at $17.80. Approximately 3,921,828 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 21,427,764 shares. The stock had previously closed at $17.72.

Analyst Ratings Changes

Several brokerages have recently weighed in on GOLD. Argus raised Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research report on Thursday, August 29th. Scotiabank decreased their price target on Barrick Gold from $25.00 to $24.00 and set a “sector outperform” rating for the company in a report on Friday, November 8th. TD Securities dropped their price objective on shares of Barrick Gold from $27.00 to $26.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Jefferies Financial Group upped their target price on shares of Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, September 13th. Finally, Raymond James dropped their price target on shares of Barrick Gold from $26.50 to $26.00 and set an “outperform” rating on the stock in a research note on Thursday, September 26th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $23.90.

Barrick Gold Stock Performance

The company has a market capitalization of $31.67 billion, a price-to-earnings ratio of 19.48, a price-to-earnings-growth ratio of 0.42 and a beta of 0.56. The company’s fifty day simple moving average is $19.53 and its two-hundred day simple moving average is $18.49. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.06 and a current ratio of 2.65.

Barrick Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.21%. The ex-dividend date is Friday, November 29th. Barrick Gold’s dividend payout ratio is currently 43.01%.

Institutional Investors Weigh In On Barrick Gold

Several institutional investors and hedge funds have recently made changes to their positions in GOLD. Clean Yield Group acquired a new stake in Barrick Gold during the first quarter worth about $25,000. Exchange Traded Concepts LLC raised its position in shares of Barrick Gold by 198.1% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,407 shares of the gold and copper producer’s stock worth $28,000 after purchasing an additional 935 shares during the period. Crewe Advisors LLC lifted its holdings in shares of Barrick Gold by 628.8% in the 2nd quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer’s stock worth $30,000 after purchasing an additional 1,572 shares during the last quarter. Jackson Grant Investment Advisers Inc. acquired a new position in Barrick Gold during the 2nd quarter valued at approximately $32,000. Finally, Eastern Bank bought a new position in Barrick Gold during the 3rd quarter worth $32,000. 62.85% of the stock is owned by institutional investors and hedge funds.

Barrick Gold Company Profile

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.