Barrick Gold (NYSE:GOLD) Stock Price Down 0.2% – What’s Next?

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) dropped 0.2% during trading on Wednesday . The stock traded as low as $17.38 and last traded at $17.58. Approximately 4,476,255 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 21,443,736 shares. The stock had previously closed at $17.61.

Wall Street Analyst Weigh In

GOLD has been the subject of several research reports. Raymond James decreased their price target on shares of Barrick Gold from $26.00 to $25.00 and set an “outperform” rating for the company in a report on Monday, November 25th. CIBC lowered shares of Barrick Gold from a “sector outperform” rating to a “neutral” rating in a report on Monday, November 25th. Berenberg Bank lifted their price target on shares of Barrick Gold from $37.00 to $38.00 in a report on Tuesday, November 26th. Cibc World Mkts lowered shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, November 25th. Finally, Jefferies Financial Group lifted their price objective on shares of Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Barrick Gold currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.60.

Barrick Gold Price Performance

The company has a current ratio of 2.65, a quick ratio of 2.06 and a debt-to-equity ratio of 0.14. The business’s 50-day simple moving average is $18.94 and its 200 day simple moving average is $18.52. The company has a market capitalization of $29.28 billion, a P/E ratio of 18.14, a P/E/G ratio of 0.48 and a beta of 0.53.

Barrick Gold Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.39%. Barrick Gold’s payout ratio is currently 43.01%.

Institutional Trading of Barrick Gold

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Exchange Traded Concepts LLC increased its position in shares of Barrick Gold by 198.1% in the third 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 in the last quarter. Eastern Bank purchased a new position in shares of Barrick Gold in the third quarter worth approximately $32,000. Crewe Advisors LLC increased its position in shares of Barrick Gold by 628.8% in the second 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 in the last quarter. JFS Wealth Advisors LLC increased its position in shares of Barrick Gold by 451.7% in the third quarter. JFS Wealth Advisors LLC now owns 1,909 shares of the gold and copper producer’s stock worth $38,000 after acquiring an additional 1,563 shares in the last quarter. Finally, Jackson Grant Investment Advisers Inc. purchased a new position in shares of Barrick Gold in the second 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.