Barrick Gold (NYSE:GOLD) Shares Down 0.1% – Time to Sell?

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX)’s share price dropped 0.1% during trading on Friday . The company traded as low as $15.46 and last traded at $15.73. Approximately 3,464,043 shares traded hands during trading, a decline of 84% from the average daily volume of 21,251,080 shares. The stock had previously closed at $15.74.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GOLD. Raymond James lowered their price target on Barrick Gold from $26.00 to $25.00 and set an “outperform” rating on the stock in a research note on Monday, November 25th. Citigroup dropped their target price on shares of Barrick Gold from $23.00 to $17.00 and set a “neutral” rating for the company in a report on Friday, December 20th. CIBC downgraded shares of Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research note on Monday, November 25th. Royal Bank of Canada upped their price objective on shares of Barrick Gold from $21.00 to $22.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. Finally, UBS Group lowered shares of Barrick Gold from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $23.00 to $22.00 in a research note on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $24.82.

Barrick Gold Price Performance

The stock has a 50-day simple moving average of $17.71 and a 200 day simple moving average of $18.45. The company has a quick ratio of 2.06, a current ratio of 2.65 and a debt-to-equity ratio of 0.14. The company has a market cap of $27.30 billion, a PE ratio of 16.86, a P/E/G ratio of 0.47 and a beta of 0.53.

Barrick Gold Announces Dividend

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 $0.10 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.40 annualized dividend and a dividend yield of 2.55%. Barrick Gold’s dividend payout ratio is currently 43.01%.

Institutional Investors Weigh In On Barrick Gold

Institutional investors have recently modified their holdings of the company. Exchange Traded Concepts LLC grew 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 worth $28,000 after purchasing an additional 935 shares in the last quarter. Eastern Bank acquired a new position in shares of Barrick Gold during the third quarter worth about $32,000. JFS Wealth Advisors LLC increased its stake in shares of Barrick Gold by 451.7% during the third quarter. JFS Wealth Advisors LLC now owns 1,909 shares of the gold and copper producer’s stock worth $38,000 after buying an additional 1,563 shares during the period. AlphaMark Advisors LLC acquired a new stake in Barrick Gold in the third quarter valued at approximately $60,000. Finally, BNP Paribas lifted its stake in Barrick Gold by 221.7% in the third quarter. BNP Paribas now owns 3,066 shares of the gold and copper producer’s stock worth $62,000 after acquiring an additional 2,113 shares during the last quarter. 62.85% of the stock is owned by institutional investors and hedge funds.

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.