Barrick Gold (NYSE:GOLD) Downgraded to Sector Perform Rating by Scotiabank

Scotiabank cut shares of Barrick Gold (NYSE:GOLD) (TSE:ABX) from a sector outperform rating to a sector perform rating in a research note issued to investors on Tuesday morning, Marketbeat reports. They currently have $19.00 target price on the gold and copper producer’s stock, down from their previous target price of $23.00.

GOLD has been the topic of a number of other reports. CIBC cut Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research report on Monday, November 25th. UBS Group cut Barrick Gold from a “buy” rating to a “neutral” rating and cut their target price for the stock from $23.00 to $22.00 in a research note on Wednesday, October 30th. TD Securities lowered their price target 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 shares of Barrick Gold from $37.00 to $38.00 in a research report on Tuesday, November 26th. Finally, Cibc World Mkts lowered shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 25th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $24.45.

Barrick Gold Trading Down 0.0 %

Shares of NYSE GOLD opened at $15.77 on Tuesday. Barrick Gold has a 1 year low of $13.76 and a 1 year high of $21.35. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.65 and a quick ratio of 2.06. The firm has a 50-day moving average of $16.45 and a 200 day moving average of $18.33. The stock has a market cap of $27.23 billion, a P/E ratio of 16.95, a price-to-earnings-growth ratio of 0.31 and a beta of 0.54.

Barrick Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.54%. The ex-dividend date was Friday, November 29th. Barrick Gold’s payout ratio is currently 43.01%.

Institutional Investors Weigh In On Barrick Gold

A number of large investors have recently made changes to their positions in the company. Exchange Traded Concepts LLC grew its position in Barrick Gold by 198.1% during the third quarter. Exchange Traded Concepts LLC now owns 1,407 shares of the gold and copper producer’s stock valued at $28,000 after buying an additional 935 shares during the period. Eastern Bank purchased a new stake in shares of Barrick Gold in the 3rd quarter worth $32,000. JFS Wealth Advisors LLC raised its holdings in Barrick Gold by 451.7% in the 3rd quarter. JFS Wealth Advisors LLC now owns 1,909 shares of the gold and copper producer’s stock worth $38,000 after purchasing an additional 1,563 shares during the period. AlphaMark Advisors LLC purchased a new position in Barrick Gold during the third quarter valued at $60,000. Finally, BNP Paribas grew its holdings in Barrick Gold by 221.7% during the third quarter. BNP Paribas now owns 3,066 shares of the gold and copper producer’s stock valued at $62,000 after purchasing an additional 2,113 shares during the period. 62.85% of the stock is currently owned by institutional investors.

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.