Barrick Gold (NYSE:GOLD) Trading Up 0.1% – Should You Buy?

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX)’s stock price traded up 0.1% during trading on Thursday . The stock traded as high as $17.75 and last traded at $17.57. 21,836,268 shares traded hands during trading, an increase of 1% from the average session volume of 21,586,721 shares. The stock had previously closed at $17.56.

Analysts Set New Price Targets

Several analysts have issued reports on GOLD shares. TD Securities decreased their price target on shares of Barrick Gold from $26.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday. Raymond James cut their price target on Barrick Gold from $26.00 to $25.00 and set an “outperform” rating for the company in a report on Monday. Jefferies Financial Group lifted their price objective on Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Friday, September 13th. Cibc World Mkts cut shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday. Finally, UBS Group lowered Barrick Gold from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $23.00 to $22.00 in a research note on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $24.91.

Barrick Gold Stock Up 0.1 %

The business has a fifty day moving average of $19.31 and a 200 day moving average of $18.53. 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 firm has a market cap of $30.71 billion, a P/E ratio of 18.89, a P/E/G ratio of 0.42 and a beta of 0.56.

Barrick Gold Announces Dividend

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

Institutional Trading of Barrick Gold

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