Barrick Gold (NYSE:GOLD) Shares Down 2.1% – Time to Sell?

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) shares traded down 2.1% during mid-day trading on Thursday . The company traded as low as $16.97 and last traded at $17.00. Approximately 6,298,780 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 21,435,568 shares. The stock had previously closed at $17.37.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on GOLD shares. Raymond James cut their price target on shares of Barrick Gold from $26.00 to $25.00 and set an “outperform” rating on the stock in a report on Monday, November 25th. Scotiabank cut their target price on 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. CIBC lowered Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research note on Monday, November 25th. Cibc World Mkts downgraded Barrick Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 25th. Finally, UBS Group lowered Barrick Gold from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $23.00 to $22.00 in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Barrick Gold has a consensus rating of “Moderate Buy” and a consensus target price of $25.60.

Barrick Gold Trading Down 2.7 %

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 stock’s 50 day moving average is $19.02 and its two-hundred day moving average is $18.53. The company has a market capitalization of $29.54 billion, a PE ratio of 18.28, a price-to-earnings-growth ratio of 0.48 and a beta of 0.53.

Barrick Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.10 per share. The ex-dividend date is Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.37%. Barrick Gold’s dividend payout ratio is presently 43.01%.

Institutional Trading of Barrick Gold

A number of hedge funds have recently bought and sold shares of the stock. Exchange Traded Concepts LLC boosted its holdings in shares of 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 valued at $28,000 after buying an additional 935 shares in the last quarter. Eastern Bank acquired a new stake in Barrick Gold in the third quarter valued at approximately $32,000. Crewe Advisors LLC grew its holdings in 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. JFS Wealth Advisors LLC increased its position in shares of 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 worth $38,000 after purchasing an additional 1,563 shares in the last quarter. Finally, Jackson Grant Investment Advisers Inc. purchased a new stake in shares of Barrick Gold during the 2nd quarter valued at $32,000. Hedge funds and other institutional investors own 62.85% of the company’s stock.

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.