Barrick Gold (NYSE:GOLD) Trading 1% Higher – Here’s Why

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX)’s share price rose 1% during trading on Thursday . The company traded as high as $17.01 and last traded at $16.96. Approximately 6,652,581 shares were traded during trading, a decline of 69% from the average daily volume of 21,317,625 shares. The stock had previously closed at $16.79.

Analyst Ratings Changes

Several equities analysts have weighed in on GOLD shares. Raymond James dropped their price objective on Barrick Gold from $26.50 to $26.00 and set an “outperform” rating for the company in a report on Thursday, September 26th. Scotiabank cut their price objective on shares of Barrick Gold from $25.00 to $24.00 and set a “sector outperform” rating for the company in a research report on Friday, November 8th. UBS Group cut shares of Barrick Gold from a “buy” rating to a “neutral” rating and dropped their target price for the company from $23.00 to $22.00 in a research report on Wednesday, October 30th. TD Securities decreased their price objective on shares of Barrick Gold from $27.00 to $26.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Finally, Jefferies Financial Group upped their target price on Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $23.90.

Barrick Gold Stock Down 1.2 %

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’s fifty day simple moving average is $19.69 and its two-hundred day simple moving average is $18.46. The stock has a market capitalization of $29.09 billion, a P/E ratio of 17.89, a price-to-earnings-growth ratio of 0.40 and a beta of 0.56.

Barrick Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a $0.10 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a yield of 2.40%. Barrick Gold’s payout ratio is 43.01%.

Institutional Investors Weigh In On Barrick Gold

A number of institutional investors have recently made changes to their positions in GOLD. Vanguard Group Inc. raised its position in shares of Barrick Gold by 1.7% during the first quarter. Vanguard Group Inc. now owns 64,761,067 shares of the gold and copper producer’s stock worth $1,077,624,000 after acquiring an additional 1,089,572 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Barrick Gold by 2.7% in the 3rd quarter. Wellington Management Group LLP now owns 54,712,508 shares of the gold and copper producer’s stock valued at $1,088,484,000 after purchasing an additional 1,458,084 shares during the last quarter. EdgePoint Investment Group Inc. raised its holdings in shares of Barrick Gold by 3.7% during the second quarter. EdgePoint Investment Group Inc. now owns 18,837,028 shares of the gold and copper producer’s stock valued at $314,254,000 after purchasing an additional 666,214 shares during the period. National Bank of Canada FI increased its position in Barrick Gold by 9.0% in the 1st quarter. National Bank of Canada FI now owns 14,887,656 shares of the gold and copper producer’s stock valued at $251,929,000 after buying an additional 1,231,184 shares in the last quarter. Finally, CIBC Asset Management Inc raised its stake in Barrick Gold by 3.3% during the 2nd quarter. CIBC Asset Management Inc now owns 14,546,530 shares of the gold and copper producer’s stock worth $242,491,000 after buying an additional 461,406 shares during the period. 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.