Barrick Gold (NYSE:GOLD) Shares Down 0.1% After Analyst Downgrade

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX)’s share price was down 0.1% on Tuesday after TD Securities lowered their price target on the stock from $26.00 to $25.00. TD Securities currently has a buy rating on the stock. Barrick Gold traded as low as $17.47 and last traded at $17.66. Approximately 4,863,852 shares were traded during trading, a decline of 77% from the average daily volume of 21,481,240 shares. The stock had previously closed at $17.68.

Several other analysts have also commented on GOLD. Argus raised Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a report on Thursday, August 29th. Jefferies Financial Group raised their price objective 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. UBS Group cut shares of Barrick Gold from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $23.00 to $22.00 in a research note on Wednesday, October 30th. Cibc World Mkts lowered shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday. Finally, Scotiabank dropped their price target on shares of Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating on the stock in a research report on Monday. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Barrick Gold has a consensus rating of “Moderate Buy” and a consensus price target of $24.91.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. DCF Advisers LLC boosted its holdings in Barrick Gold by 48.3% in the 2nd quarter. DCF Advisers LLC now owns 107,500 shares of the gold and copper producer’s stock valued at $1,793,000 after purchasing an additional 35,000 shares during the last quarter. Mizuho Markets Americas LLC lifted its holdings in Barrick Gold by 21.7% in the third quarter. Mizuho Markets Americas LLC now owns 2,317,580 shares of the gold and copper producer’s stock valued at $46,097,000 after acquiring an additional 413,012 shares during the last quarter. Entropy Technologies LP acquired a new position in Barrick Gold in the third quarter valued at approximately $3,711,000. Aigen Investment Management LP lifted its holdings in Barrick Gold by 330.5% in the third quarter. Aigen Investment Management LP now owns 99,240 shares of the gold and copper producer’s stock valued at $1,974,000 after acquiring an additional 76,186 shares during the last quarter. Finally, Evexia Wealth LLC acquired a new position in shares of Barrick Gold in the 3rd quarter valued at $2,382,000. Institutional investors and hedge funds own 62.85% of the company’s stock.

Barrick Gold Trading Up 0.1 %

The company has a 50 day moving average price of $19.31 and a 200 day moving average price of $18.53. The firm has a market cap of $30.73 billion, a price-to-earnings ratio of 18.90, a price-to-earnings-growth ratio of 0.42 and a beta of 0.56. 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 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a $0.10 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a yield of 2.28%. Barrick Gold’s payout ratio is currently 43.01%.

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.