Barrick Gold (NYSE:GOLD) Stock Price Up 0.3% – Here’s What Happened

by · The Markets Daily

Barrick Gold Corp (NYSE:GOLD – Get Free Report) (TSE:ABX) shares were up 0.3% during mid-day trading on Thursday . The stock traded as high as $18.11 and last traded at $17.94. Approximately 3,868,305 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 21,449,137 shares. The stock had previously closed at $17.89.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on GOLD shares. Scotiabank lowered their target price on shares of Barrick Gold from $25.00 to $24.00 and set a “sector outperform” rating for the company in a research note on Friday, November 8th. Jefferies Financial Group increased 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 upgraded Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research note on Thursday, August 29th. Royal Bank of Canada increased their price target on Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Finally, UBS Group lowered Barrick Gold from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $23.00 to $22.00 in a research report on Wednesday, October 30th. Three 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, Barrick Gold currently has an average rating of “Moderate Buy” and a consensus price target of $23.90.

Get Our Latest Report on GOLD

Barrick Gold Stock Up 0.8 %

The firm has a market capitalization of $31.53 billion, a P/E ratio of 19.29, a PEG ratio of 0.42 and a beta of 0.56. The firm’s fifty day moving average price is $19.58 and its 200-day moving average price is $18.50. 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 firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.22%. Barrick Gold’s payout ratio is currently 43.01%.

Institutional Trading of Barrick Gold

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Exchange Traded Concepts LLC lifted its holdings in shares of Barrick Gold by 198.1% in the third 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. Clean Yield Group acquired a new stake in Barrick Gold during the 1st quarter worth about $25,000. Eastern Bank acquired a new position in shares of Barrick Gold in the 3rd quarter valued at about $32,000. Crewe Advisors LLC lifted its position in shares of Barrick Gold by 628.8% in the second quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer’s stock worth $30,000 after purchasing an additional 1,572 shares in the last quarter. Finally, JFS Wealth Advisors LLC boosted its holdings 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 purchasing an additional 1,563 shares during the period. 62.85% of the stock is currently owned by institutional investors.

Barrick Gold Company Profile

(Get Free Report)

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.

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