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

Shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) have been assigned a consensus recommendation of “Moderate Buy” from the eleven analysts that are currently covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $24.82.

GOLD has been the subject of several recent research reports. Raymond James lowered their target price on Barrick Gold from $26.00 to $25.00 and set an “outperform” rating for the company in a report on Monday, November 25th. TD Securities cut their target price 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. Berenberg Bank increased their price objective on Barrick Gold from $37.00 to $38.00 in a research report on Tuesday, November 26th. CIBC downgraded Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research report on Monday, November 25th. Finally, Cibc World Mkts downgraded shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 25th.

Hedge Funds Weigh In On Barrick Gold

Several hedge funds have recently bought and sold shares of GOLD. Principal Financial Group Inc. boosted its holdings in Barrick Gold by 19.9% during the third quarter. Principal Financial Group Inc. now owns 483,613 shares of the gold and copper producer’s stock valued at $9,630,000 after acquiring an additional 80,366 shares during the period. Mizuho Markets Americas LLC lifted its stake in shares of Barrick Gold by 21.7% in the third quarter. Mizuho Markets Americas LLC now owns 2,317,580 shares of the gold and copper producer’s stock valued at $46,097,000 after buying an additional 413,012 shares during the period. Entropy Technologies LP acquired a new position in Barrick Gold in the third quarter worth about $3,711,000. Aigen Investment Management LP raised its position in Barrick Gold by 330.5% in 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 in the last quarter. Finally, Evexia Wealth LLC acquired a new position in Barrick Gold in the third quarter worth about $2,382,000. 62.85% of the stock is owned by institutional investors and hedge funds.

Barrick Gold Stock Up 1.6 %

NYSE:GOLD opened at $16.00 on Friday. The firm has a market capitalization of $27.85 billion, a PE ratio of 17.20, a price-to-earnings-growth ratio of 0.28 and a beta of 0.54. The stock has a 50 day moving average of $16.52 and a 200-day moving average of $18.35. Barrick Gold has a 52 week low of $13.76 and a 52 week high of $21.35. The company has a current ratio of 2.65, a quick ratio of 2.06 and a debt-to-equity ratio of 0.14.

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 given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.50%. The ex-dividend date was Friday, November 29th. Barrick Gold’s payout ratio is 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.