Brokerages Set Barrick Gold Corp (NYSE:GOLD) Target Price at $24.82

Shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) have been assigned a consensus rating of “Moderate Buy” from the twelve analysts that are covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $24.82.

Several equities research analysts have recently issued reports on the company. UBS Group lowered Barrick Gold from a “buy” rating to a “neutral” rating and decreased their target price for the company from $23.00 to $22.00 in a research report on Wednesday, October 30th. Citigroup lowered their price objective on shares of Barrick Gold from $23.00 to $17.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th. Scotiabank reduced their target price on shares of Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating for the company in a research report on Monday, November 25th. CIBC cut shares of Barrick Gold from a “sector outperform” rating to a “neutral” rating in a report on Monday, November 25th. Finally, Raymond James reduced their price objective on Barrick Gold from $26.00 to $25.00 and set an “outperform” rating for the company in a report on Monday, November 25th.

Barrick Gold Price Performance

Shares of NYSE GOLD opened at $15.50 on Wednesday. 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 has a market capitalization of $26.99 billion, a PE ratio of 16.67, a PEG ratio of 0.47 and a beta of 0.53. The stock’s 50 day moving average price is $17.49 and its 200-day moving average price is $18.45. Barrick Gold has a twelve month low of $13.76 and a twelve month high of $21.35.

Barrick Gold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date of this dividend was Friday, November 29th. Barrick Gold’s dividend payout ratio (DPR) is presently 43.01%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Exchange Traded Concepts LLC increased its stake in 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 worth $28,000 after acquiring an additional 935 shares during the last quarter. 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 purchasing an additional 1,572 shares during the last quarter. Eastern Bank purchased a new stake in Barrick Gold in the third quarter valued at approximately $32,000. JFS Wealth Advisors LLC lifted its position in Barrick Gold by 451.7% during the third quarter. JFS Wealth Advisors LLC now owns 1,909 shares of the gold and copper producer’s stock valued at $38,000 after purchasing an additional 1,563 shares during the last quarter. Finally, AlphaMark Advisors LLC bought a new position in shares of Barrick Gold in the 3rd quarter worth $60,000. 62.85% of the stock is currently owned by hedge funds and other 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.