Barrick Gold Corp (NYSE:GOLD) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) have earned an average rating of “Moderate Buy” from the eleven brokerages that are presently covering the stock, MarketBeat reports. Five analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $24.45.

Several equities research analysts have recently weighed in on the company. UBS Group cut 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. CIBC lowered shares of Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research report on Monday, November 25th. Raymond James reduced their target price on shares of Barrick Gold from $26.00 to $25.00 and set an “outperform” rating for the company in a research note on Monday, November 25th. Berenberg Bank boosted their price target on Barrick Gold from $37.00 to $38.00 in a research note on Tuesday, November 26th. Finally, TD Securities reduced their price objective on Barrick Gold from $26.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th.

Barrick Gold Price Performance

Shares of NYSE:GOLD opened at $16.13 on Friday. The company has a market cap of $27.85 billion, a price-to-earnings ratio of 17.34, a PEG ratio of 0.30 and a beta of 0.54. The business has a 50 day moving average price of $16.42 and a 200 day moving average price of $18.30. The company has a quick ratio of 2.06, a current ratio of 2.65 and a debt-to-equity ratio of 0.14. Barrick Gold has a twelve month low of $13.76 and a twelve month high of $21.35.

Barrick Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.40 annualized dividend and a dividend yield of 2.48%. Barrick Gold’s dividend payout ratio is presently 43.01%.

Hedge Funds Weigh In On Barrick Gold

Several institutional investors have recently added to or reduced their stakes in the company. Ritholtz Wealth Management grew its stake in Barrick Gold by 2.8% during the third quarter. Ritholtz Wealth Management now owns 18,163 shares of the gold and copper producer’s stock worth $361,000 after buying an additional 502 shares during the last quarter. Greenleaf Trust boosted its holdings in shares of Barrick Gold by 2.1% in the 3rd quarter. Greenleaf Trust now owns 25,659 shares of the gold and copper producer’s stock worth $510,000 after acquiring an additional 540 shares in the last quarter. Moors & Cabot Inc. grew its position in Barrick Gold by 0.9% during the 3rd quarter. Moors & Cabot Inc. now owns 64,085 shares of the gold and copper producer’s stock worth $1,275,000 after acquiring an additional 579 shares during the last quarter. Chelsea Counsel Co. increased its holdings in Barrick Gold by 1.4% during the 3rd quarter. Chelsea Counsel Co. now owns 42,973 shares of the gold and copper producer’s stock valued at $855,000 after purchasing an additional 590 shares in the last quarter. Finally, Silverlake Wealth Management LLC raised its position in Barrick Gold by 1.3% in the 3rd quarter. Silverlake Wealth Management LLC now owns 49,890 shares of the gold and copper producer’s stock valued at $992,000 after purchasing an additional 628 shares during the last quarter. 62.85% of the stock is owned by institutional investors.

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.