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

Shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) have been assigned a consensus rating of “Moderate Buy” from the eleven analysts that are presently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $25.60.

A number of analysts recently commented on GOLD shares. Royal Bank of Canada boosted their price objective on shares of Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. 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. UBS Group downgraded shares of Barrick Gold from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $23.00 to $22.00 in a report on Wednesday, October 30th. TD Securities decreased their price objective on shares of Barrick Gold from $26.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Argus raised shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a report on Thursday, August 29th.

Hedge Funds Weigh In On Barrick Gold

Several institutional investors and hedge funds have recently modified their holdings of the company. Exchange Traded Concepts LLC raised its stake in shares of Barrick Gold by 198.1% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,407 shares of the gold and copper producer’s stock valued at $28,000 after acquiring an additional 935 shares during the period. Crewe Advisors LLC raised its stake in shares of Barrick Gold by 628.8% in the 2nd quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer’s stock valued at $30,000 after acquiring an additional 1,572 shares during the period. Jackson Grant Investment Advisers Inc. purchased a new position in shares of Barrick Gold in the 2nd quarter valued at $32,000. Eastern Bank purchased a new position in shares of Barrick Gold in the 3rd quarter valued at $32,000. Finally, LRI Investments LLC purchased a new position in shares of Barrick Gold in the 1st quarter valued at $37,000. Hedge funds and other institutional investors own 62.85% of the company’s stock.

Barrick Gold Trading Up 0.1 %

Shares of Barrick Gold stock opened at $17.49 on Friday. Barrick Gold has a 52-week low of $13.76 and a 52-week high of $21.35. 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 company’s 50-day simple moving average is $19.20 and its 200-day simple moving average is $18.53. The firm has a market cap of $30.57 billion, a price-to-earnings ratio of 18.81, a price-to-earnings-growth ratio of 0.48 and a beta of 0.56.

Barrick Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.29%. The ex-dividend date is 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.