Barrick Gold (NYSE:GOLD) Trading 0.5% Higher – What’s Next?

Shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) rose 0.5% during trading on Thursday . The company traded as high as $15.82 and last traded at $15.79. Approximately 2,354,946 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 21,294,051 shares. The stock had previously closed at $15.71.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GOLD. Scotiabank reduced their price target on shares of Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating on the stock in a research note on Monday, November 25th. TD Securities decreased their target price on shares of Barrick Gold from $26.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. Argus upgraded Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research note on Thursday, August 29th. Citigroup reduced their price objective on Barrick Gold from $23.00 to $17.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th. Finally, Jefferies Financial Group lifted their price target on Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, September 13th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Barrick Gold has a consensus rating of “Moderate Buy” and a consensus target price of $24.82.

Barrick Gold Stock Performance

The stock has a market capitalization of $27.51 billion, a price-to-earnings ratio of 16.99, a P/E/G ratio of 0.47 and a beta of 0.53. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.06 and a current ratio of 2.65. The stock has a fifty day simple moving average of $17.90 and a two-hundred day simple moving average of $18.46.

Barrick Gold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.53%. Barrick Gold’s payout ratio is presently 43.01%.

Institutional Investors Weigh In On Barrick Gold

Hedge funds and other institutional investors have recently modified their holdings of the company. DCF Advisers LLC raised its position in Barrick Gold by 48.3% in the 2nd quarter. DCF Advisers LLC now owns 107,500 shares of the gold and copper producer’s stock valued at $1,793,000 after buying an additional 35,000 shares during the last quarter. Mizuho Markets Americas LLC raised its stake in Barrick Gold by 21.7% in the 3rd 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 acquiring an additional 413,012 shares during the period. Entropy Technologies LP bought a new position in Barrick Gold during the third quarter worth about $3,711,000. Aigen Investment Management LP increased its stake in shares of 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 purchased a new stake in shares of Barrick Gold during the 3rd quarter valued at approximately $2,382,000. Institutional investors own 62.85% of the company’s stock.

About Barrick Gold

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.