Barrick Gold Corp (NYSE:GOLD) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) have been assigned a consensus recommendation of “Moderate Buy” from the twelve research firms that are presently covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $24.82.

A number of equities research analysts recently weighed in on GOLD shares. Royal Bank of Canada raised their price target on Barrick Gold from $21.00 to $22.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. CIBC cut Barrick Gold from a “sector outperform” rating to a “neutral” rating in a report on Monday, November 25th. Scotiabank decreased their price objective on shares of Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating on the stock in a report on Monday, November 25th. Jefferies Financial Group boosted their target price 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. Finally, Cibc World Mkts cut shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 25th.

Institutional Investors Weigh In On Barrick Gold

Several large investors have recently modified their holdings of GOLD. Wellington Management Group LLP raised its holdings in shares of Barrick Gold by 2.7% during the third quarter. Wellington Management Group LLP now owns 54,712,508 shares of the gold and copper producer’s stock worth $1,088,484,000 after acquiring an additional 1,458,084 shares during the period. EdgePoint Investment Group Inc. raised its stake in shares of Barrick Gold by 3.7% in the 2nd quarter. EdgePoint Investment Group Inc. now owns 18,837,028 shares of the gold and copper producer’s stock valued at $314,254,000 after purchasing an additional 666,214 shares during the period. CIBC Asset Management Inc lifted its holdings in shares of Barrick Gold by 3.3% in the second quarter. CIBC Asset Management Inc now owns 14,546,530 shares of the gold and copper producer’s stock valued at $242,491,000 after purchasing an additional 461,406 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Barrick Gold by 33.3% during the third quarter. The Manufacturers Life Insurance Company now owns 11,431,497 shares of the gold and copper producer’s stock worth $227,524,000 after buying an additional 2,854,055 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Barrick Gold by 221.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,027,811 shares of the gold and copper producer’s stock worth $199,427,000 after buying an additional 6,904,934 shares in the last quarter. 62.85% of the stock is currently owned by institutional investors.

Barrick Gold Price Performance

NYSE:GOLD opened at $15.68 on Wednesday. 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 $27.30 billion, a PE ratio of 16.86, a price-to-earnings-growth ratio of 0.47 and a beta of 0.53. Barrick Gold has a 12 month low of $13.76 and a 12 month high of $21.35. The company’s 50-day moving average price is $17.71 and its two-hundred day moving average price is $18.46.

Barrick Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were issued a dividend of $0.10 per share. The ex-dividend date was Friday, November 29th. This represents a $0.40 annualized dividend and a yield of 2.55%. Barrick Gold’s dividend payout ratio is presently 43.01%.

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.