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

Barrick Gold (NYSE:GOLD) (TSE:ABX) had its price objective lowered by TD Securities from $26.00 to $25.00 in a research note issued to investors on Tuesday morning,BayStreet.CA reports. The brokerage currently has a buy rating on the gold and copper producer’s stock.

Several other analysts have also commented on GOLD. UBS Group lowered shares of Barrick Gold from a “buy” rating to a “neutral” rating and cut their target price for the company from $23.00 to $22.00 in a research note on Wednesday, October 30th. Cibc World Mkts downgraded shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday. 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. Argus raised shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research note on Thursday, August 29th. Finally, Scotiabank decreased their price objective on shares of Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating for the company in a research note on Monday. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Barrick Gold has an average rating of “Moderate Buy” and a consensus price target of $25.60.

Barrick Gold Stock Up 0.1 %

GOLD stock opened at $17.57 on Tuesday. Barrick Gold has a 12 month low of $13.76 and a 12 month high of $21.35. The firm has a market cap of $30.71 billion, a PE ratio of 18.89, a P/E/G ratio of 0.42 and a beta of 0.56. The firm has a 50 day simple moving average of $19.26 and a 200 day simple moving average of $18.53. 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 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 paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date of this dividend is Friday, November 29th. Barrick Gold’s dividend payout ratio (DPR) is currently 43.01%.

Institutional Investors Weigh In On Barrick Gold

A number of institutional investors have recently modified their holdings of the stock. Clean Yield Group bought a new position in shares of Barrick Gold during the 1st quarter valued at $25,000. Exchange Traded Concepts LLC raised its holdings in shares of 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 raised its holdings in shares of 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 position in shares of Barrick Gold during the 2nd quarter valued at $32,000. Finally, Eastern Bank bought a new position in shares of Barrick Gold during the 3rd quarter valued at $32,000. 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.