Bank of America Downgrades Barrick Gold (NYSE:GOLD) to Neutral

Bank of America downgraded shares of Barrick Gold (NYSE:GOLD) (TSE:ABX) from a buy rating to a neutral rating in a report published on Monday morning, MarketBeat.com reports. They currently have $18.00 target price on the gold and copper producer’s stock, down from their prior target price of $21.00.

GOLD has been the topic of several other reports. Raymond James lowered their price target on shares of Barrick Gold from $26.00 to $25.00 and set an “outperform” rating on the stock in a research note on Monday, November 25th. UBS Group downgraded shares of Barrick Gold from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $23.00 to $22.00 in a research report on Wednesday, October 30th. Scotiabank downgraded shares of Barrick Gold from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the company from $23.00 to $19.00 in a research report on Tuesday, January 21st. TD Securities decreased their price objective on shares of Barrick Gold from $26.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th. Finally, CIBC downgraded shares of Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research report on Monday, November 25th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $23.92.

Barrick Gold Stock Down 0.3 %

Shares of GOLD stock opened at $16.08 on Monday. 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 1 year low of $13.76 and a 1 year high of $21.35. The firm’s fifty day moving average price is $16.42 and its two-hundred day moving average price is $18.31. The firm has a market capitalization of $27.76 billion, a P/E ratio of 17.28, a PEG ratio of 0.30 and a beta of 0.54.

Barrick Gold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.49%. The ex-dividend date was Friday, November 29th. Barrick Gold’s payout ratio is 43.01%.

Institutional Trading of Barrick Gold

A number of institutional investors have recently bought and sold shares of the business. Exchange Traded Concepts LLC raised its position in shares of Barrick Gold by 198.1% in 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 buying an additional 935 shares in the last quarter. Eastern Bank acquired a new position in shares of Barrick Gold in the 3rd quarter valued at approximately $32,000. JFS Wealth Advisors LLC raised its position in shares of Barrick Gold by 451.7% in the 3rd quarter. JFS Wealth Advisors LLC now owns 1,909 shares of the gold and copper producer’s stock valued at $38,000 after buying an additional 1,563 shares in the last quarter. AlphaMark Advisors LLC acquired a new position in shares of Barrick Gold in the 3rd quarter valued at approximately $60,000. Finally, BNP Paribas raised its position in shares of Barrick Gold by 221.7% in the 3rd quarter. BNP Paribas now owns 3,066 shares of the gold and copper producer’s stock valued at $62,000 after buying an additional 2,113 shares in the last quarter. Institutional investors own 62.85% of the company’s stock.

About Barrick Gold

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.