Short Interest in Barrick Gold Corp (NYSE:GOLD) Rises By 62.0%

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) was the recipient of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 17,881,600 shares, a growth of 62.0% from the October 15th total of 11,035,200 shares. Approximately 1.0% of the company’s shares are short sold. Based on an average daily volume of 20,252,000 shares, the days-to-cover ratio is currently 0.9 days.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GOLD. Clean Yield Group bought a new stake in Barrick Gold during the 1st quarter valued at about $25,000. Exchange Traded Concepts LLC increased its stake in 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 valued at $28,000 after purchasing an additional 935 shares in the last quarter. Crewe Advisors LLC increased its stake in Barrick Gold by 628.8% during the 2nd quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer’s stock valued at $30,000 after purchasing an additional 1,572 shares in the last quarter. Jackson Grant Investment Advisers Inc. bought a new stake in Barrick Gold during the 2nd quarter valued at about $32,000. Finally, Eastern Bank bought a new stake in Barrick Gold during the 3rd quarter valued at about $32,000. 62.85% of the stock is currently owned by institutional investors.

Barrick Gold Stock Down 1.2 %

Shares of NYSE GOLD opened at $16.64 on Friday. The company has a current ratio of 2.65, a quick ratio of 2.06 and a debt-to-equity ratio of 0.14. Barrick Gold has a 12 month low of $13.76 and a 12 month high of $21.35. The firm has a market capitalization of $29.09 billion, a PE ratio of 18.01, a price-to-earnings-growth ratio of 0.40 and a beta of 0.56. The firm has a fifty day simple moving average of $19.74 and a two-hundred day simple moving average of $18.46.

Barrick Gold Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.40 annualized dividend and a dividend yield of 2.40%. Barrick Gold’s payout ratio is 43.01%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Argus upgraded Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Thursday, August 29th. UBS Group lowered Barrick Gold from a “buy” rating to a “neutral” rating and cut their price target for the stock from $23.00 to $22.00 in a report on Wednesday, October 30th. 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. Royal Bank of Canada lifted their price objective on shares of Barrick Gold from $21.00 to $22.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Finally, Jefferies Financial Group boosted their price target on shares of Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Friday, September 13th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.90.

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.