Barrick Gold (NYSE:GOLD) Price Target Cut to $25.00 by Analysts at Raymond James

Barrick Gold (NYSE:GOLD) (TSE:ABX) had its price objective lowered by Raymond James from $26.00 to $25.00 in a research note issued to investors on Monday morning,Benzinga reports. Raymond James currently has an outperform rating on the gold and copper producer’s stock.

Several other research analysts also recently weighed in on the stock. UBS Group downgraded shares of Barrick Gold from a “buy” rating to a “neutral” rating and decreased their target price for the company from $23.00 to $22.00 in a research note on Wednesday, October 30th. TD Securities lowered their target price on Barrick Gold from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Jefferies Financial Group lifted their target price on Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Scotiabank reduced 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. Finally, Argus upgraded Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a report on Thursday, August 29th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $23.70.

Barrick Gold Stock Down 2.9 %

NYSE GOLD opened at $17.69 on Monday. The company has a quick ratio of 2.06, a current ratio of 2.65 and a debt-to-equity ratio of 0.14. Barrick Gold has a fifty-two week low of $13.76 and a fifty-two week high of $21.35. The business has a 50 day moving average price of $19.42 and a two-hundred day moving average price of $18.53. The stock has a market cap of $30.92 billion, a PE ratio of 19.02, a P/E/G ratio of 0.43 and a beta of 0.56.

Barrick Gold Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.26%. Barrick Gold’s dividend payout ratio (DPR) is 43.01%.

Hedge Funds Weigh In On Barrick Gold

Large investors have recently added to or reduced their stakes in the company. Ritholtz Wealth Management increased its stake in Barrick Gold by 2.8% during the third quarter. Ritholtz Wealth Management now owns 18,163 shares of the gold and copper producer’s stock valued at $361,000 after purchasing an additional 502 shares during the last quarter. Greenleaf Trust boosted its holdings in shares of Barrick Gold by 2.1% in the 3rd quarter. Greenleaf Trust now owns 25,659 shares of the gold and copper producer’s stock valued at $510,000 after buying an additional 540 shares during the period. Moors & Cabot Inc. grew its position in shares of Barrick Gold by 0.9% during the 3rd quarter. Moors & Cabot Inc. now owns 64,085 shares of the gold and copper producer’s stock valued at $1,275,000 after buying an additional 579 shares during the last quarter. Chelsea Counsel Co. raised its stake in Barrick Gold by 1.4% during the third quarter. Chelsea Counsel Co. now owns 42,973 shares of the gold and copper producer’s stock worth $855,000 after acquiring an additional 590 shares during the period. Finally, Silverlake Wealth Management LLC lifted its holdings in Barrick Gold by 1.3% in the third quarter. Silverlake Wealth Management LLC now owns 49,890 shares of the gold and copper producer’s stock worth $992,000 after acquiring an additional 628 shares during the last quarter. 62.85% of the stock is currently owned by institutional investors.

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.