Barrick Gold (NYSE:GOLD) Given New $38.00 Price Target at Berenberg Bank

Barrick Gold (NYSE:GOLD) (TSE:ABX) had its price objective boosted by Berenberg Bank from $37.00 to $38.00 in a research note issued to investors on Tuesday,BayStreet.CA reports.

Other equities research analysts also recently issued reports about the company. UBS Group downgraded Barrick Gold from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $23.00 to $22.00 in a research note on Wednesday, October 30th. TD Securities dropped their price objective on shares of Barrick Gold from $26.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday. Raymond James decreased their target price on shares of Barrick Gold from $26.00 to $25.00 and set an “outperform” rating for the company in a research note on Monday, November 25th. Jefferies Financial Group upped their price target on shares of Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Finally, CIBC downgraded Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research note on Monday, November 25th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Barrick Gold presently has an average rating of “Moderate Buy” and a consensus target price of $25.60.

Barrick Gold Trading Up 0.1 %

Barrick Gold stock opened at $17.49 on Tuesday. The company has a 50 day moving average price of $19.20 and a 200 day moving average price of $18.53. 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 has a 52 week low of $13.76 and a 52 week high of $21.35. The firm has a market capitalization of $30.57 billion, a price-to-earnings ratio of 18.81, a P/E/G ratio of 0.48 and a beta of 0.56.

Barrick Gold Dividend Announcement

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Synovus Financial Corp acquired a new position in shares of Barrick Gold during the third quarter worth approximately $210,000. Wilmington Savings Fund Society FSB bought a new stake in Barrick Gold in the 3rd quarter valued at $517,000. Chelsea Counsel Co. grew its position in Barrick Gold by 1.4% in the 3rd quarter. Chelsea Counsel Co. now owns 42,973 shares of the gold and copper producer’s stock worth $855,000 after purchasing an additional 590 shares during the last quarter. Bard Financial Services Inc. raised its position in shares of Barrick Gold by 3.5% during the third quarter. Bard Financial Services Inc. now owns 55,875 shares of the gold and copper producer’s stock valued at $1,111,000 after buying an additional 1,875 shares during the last quarter. Finally, Sunbelt Securities Inc. lifted its stake in shares of Barrick Gold by 43.9% in the third quarter. Sunbelt Securities Inc. now owns 14,241 shares of the gold and copper producer’s stock valued at $283,000 after buying an additional 4,345 shares during the period. Institutional investors and hedge funds own 62.85% of the company’s stock.

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.