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

Scotiabank lowered shares of Barrick Gold (NYSE:GOLD) (TSE:ABX) from an outperform rating to a sector perform rating in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage currently has $19.00 price objective on the gold and copper producer’s stock, down from their previous price objective of $23.00.

Other research analysts have also issued research reports about the company. Bank of America lowered Barrick Gold from a “buy” rating to a “neutral” rating and lowered their price target for the company from $21.00 to $18.00 in a research report on Monday. UBS Group cut shares of Barrick Gold from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $23.00 to $22.00 in a report on Wednesday, October 30th. Citigroup reduced their price target on Barrick Gold from $23.00 to $17.00 and set a “neutral” rating for the company in a report on Friday, December 20th. Raymond James decreased their price objective on shares of Barrick Gold from $26.00 to $25.00 and set an “outperform” rating for the company in a report on Monday, November 25th. Finally, TD Securities dropped their price target on shares of Barrick Gold from $26.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.92.

Barrick Gold Trading Up 3.8 %

Shares of GOLD stock opened at $16.56 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.65 and a quick ratio of 2.06. Barrick Gold has a 1-year low of $13.76 and a 1-year high of $21.35. The stock has a market capitalization of $28.60 billion, a PE ratio of 17.81, a P/E/G ratio of 0.30 and a beta of 0.54. The business has a 50-day moving average of $16.32 and a 200 day moving average of $18.26.

Barrick Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.40 annualized dividend and a dividend yield of 2.42%. Barrick Gold’s dividend payout ratio (DPR) is currently 43.01%.

Institutional Investors Weigh In On Barrick Gold

Institutional investors and hedge funds have recently made changes to their positions in the stock. Pinnacle Wealth Management Advisory Group LLC acquired a new stake in Barrick Gold during the fourth quarter valued at $165,000. Allworth Financial LP raised its holdings in shares of Barrick Gold by 1,864.2% during the fourth quarter. Allworth Financial LP now owns 21,174 shares of the gold and copper producer’s stock valued at $334,000 after acquiring an additional 20,096 shares during the last quarter. Principal Securities Inc. boosted its stake in Barrick Gold by 119.4% during the 4th quarter. Principal Securities Inc. now owns 4,848 shares of the gold and copper producer’s stock worth $75,000 after purchasing an additional 2,638 shares during the last quarter. Bogart Wealth LLC grew its stake in Barrick Gold by 31.8% during the 4th quarter. Bogart Wealth LLC now owns 8,378 shares of the gold and copper producer’s stock valued at $130,000 after acquiring an additional 2,023 shares in the last quarter. Finally, Ingalls & Snyder LLC boosted its stake in Barrick Gold by 193.3% during the fourth quarter. Ingalls & Snyder LLC now owns 76,553 shares of the gold and copper producer’s stock worth $1,187,000 after buying an additional 50,453 shares during the last quarter. 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.