Raymond James Issues Pessimistic Forecast for Barrick Gold (NYSE:GOLD) Stock Price

Barrick Gold (NYSE:GOLD) (TSE:ABX) had its target price lowered by Raymond James from $26.00 to $25.00 in a report released on Monday morning,Benzinga reports. Raymond James currently has an outperform rating on the gold and copper producer’s stock.

Other research analysts have also recently issued research reports about the company. Royal Bank of Canada increased their price objective on Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. TD Securities decreased their price target on Barrick Gold from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Jefferies Financial Group raised their price target on Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. CIBC cut Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research report on Monday. Finally, Scotiabank decreased their price target on Barrick Gold from $25.00 to $24.00 and set a “sector outperform” rating on the stock in a research report on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.60.

Barrick Gold Stock Up 0.1 %

GOLD stock opened at $17.57 on Monday. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.65 and a quick ratio of 2.06. The stock has a market capitalization of $30.71 billion, a price-to-earnings ratio of 18.89, a PEG ratio of 0.42 and a beta of 0.56. The business’s fifty day moving average price is $19.26 and its two-hundred day moving average price is $18.53. Barrick Gold has a fifty-two week low of $13.76 and a fifty-two week high of $21.35.

Barrick Gold Dividend Announcement

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

Hedge Funds Weigh In On Barrick Gold

Several institutional investors have recently modified their holdings of GOLD. Clean Yield Group bought a new position in Barrick Gold during the 1st quarter worth approximately $25,000. Exchange Traded Concepts LLC grew its position in Barrick Gold by 198.1% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,407 shares of the gold and copper producer’s stock worth $28,000 after acquiring an additional 935 shares during the last quarter. Crewe Advisors LLC grew its position in Barrick Gold by 628.8% during the 2nd quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer’s stock worth $30,000 after acquiring an additional 1,572 shares during the last quarter. Jackson Grant Investment Advisers Inc. bought a new position in Barrick Gold during the 2nd quarter worth approximately $32,000. Finally, Eastern Bank bought a new position in Barrick Gold during the 3rd quarter worth approximately $32,000. 62.85% of the stock is currently 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.