Barrick Gold (NYSE:GOLD) Downgraded by CIBC to Neutral

CIBC cut shares of Barrick Gold (NYSE:GOLD) (TSE:ABX) from a sector outperform rating to a neutral rating in a report published on Monday morning, MarketBeat reports.

GOLD has been the topic of several other reports. Raymond James dropped their price objective on shares of Barrick Gold from $26.50 to $26.00 and set an “outperform” rating on the stock in a report on Thursday, September 26th. Jefferies Financial Group upped their price target on shares of Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a report on Friday, September 13th. TD Securities reduced their price objective on Barrick Gold from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Friday, November 8th. UBS Group cut Barrick Gold from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $23.00 to $22.00 in a report on Wednesday, October 30th. Finally, Royal Bank of Canada raised their target price on Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $25.60.

Barrick Gold Trading Up 0.1 %

Barrick Gold stock opened at $17.57 on Monday. The stock has a 50-day moving average price of $19.26 and a 200 day moving average price of $18.53. The company has a market capitalization of $30.71 billion, a price-to-earnings ratio of 18.89, a price-to-earnings-growth ratio of 0.42 and a beta of 0.56. 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.

Barrick Gold Dividend Announcement

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

Institutional Investors Weigh In On Barrick Gold

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. DCF Advisers LLC lifted its holdings in Barrick Gold by 48.3% during the second quarter. DCF Advisers LLC now owns 107,500 shares of the gold and copper producer’s stock valued at $1,793,000 after purchasing an additional 35,000 shares in the last quarter. Mizuho Markets Americas LLC lifted 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 buying an additional 413,012 shares in the last quarter. Entropy Technologies LP acquired a new stake in Barrick Gold in the 3rd quarter worth about $3,711,000. Aigen Investment Management LP boosted its holdings in Barrick Gold by 330.5% in the 3rd quarter. Aigen Investment Management LP now owns 99,240 shares of the gold and copper producer’s stock worth $1,974,000 after buying an additional 76,186 shares during the last quarter. Finally, Evexia Wealth LLC purchased a new stake in Barrick Gold during the 3rd quarter worth approximately $2,382,000. Hedge funds and other 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.