Barrick Gold (NYSE:GOLD) Trading Up 0.3% – Should You Buy?

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX)’s stock price traded up 0.3% on Thursday . The stock traded as high as $18.11 and last traded at $17.94. 3,868,305 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 21,449,137 shares. The stock had previously closed at $17.89.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Royal Bank of Canada raised their price target on shares of Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Scotiabank reduced their target price on shares of Barrick Gold from $25.00 to $24.00 and set a “sector outperform” rating on the stock in a research note on Friday, November 8th. Jefferies Financial Group lifted their target price on shares of Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Raymond James reduced their target price on shares of Barrick Gold from $26.50 to $26.00 and set an “outperform” rating on the stock in a research note on Thursday, September 26th. Finally, TD Securities reduced their target price 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. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $23.90.

Barrick Gold Trading Up 0.7 %

The firm has a market capitalization of $31.88 billion, a price-to-earnings ratio of 19.61, a PEG ratio of 0.42 and a beta of 0.56. The business’s 50-day simple moving average is $19.47 and its two-hundred day simple moving average is $18.50. 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 Announces Dividend

The firm 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. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend is Friday, November 29th. Barrick Gold’s dividend payout ratio (DPR) is currently 43.01%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in GOLD. Acadian Asset Management LLC lifted its position in shares of Barrick Gold by 262.6% during the 1st quarter. Acadian Asset Management LLC now owns 47,500 shares of the gold and copper producer’s stock worth $789,000 after buying an additional 34,400 shares during the last quarter. UniSuper Management Pty Ltd lifted its position in shares of Barrick Gold by 96.8% during the 1st quarter. UniSuper Management Pty Ltd now owns 24,800 shares of the gold and copper producer’s stock worth $413,000 after buying an additional 12,200 shares during the last quarter. 1832 Asset Management L.P. lifted its position in shares of Barrick Gold by 3.6% during the 1st quarter. 1832 Asset Management L.P. now owns 1,089,855 shares of the gold and copper producer’s stock worth $18,135,000 after buying an additional 38,100 shares during the last quarter. LRI Investments LLC purchased a new stake in shares of Barrick Gold during the 1st quarter worth approximately $37,000. Finally, Lazard Asset Management LLC lifted its position in shares of Barrick Gold by 3.9% during the 1st quarter. Lazard Asset Management LLC now owns 399,296 shares of the gold and copper producer’s stock worth $6,644,000 after buying an additional 14,853 shares during the last quarter. Institutional investors and hedge funds 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.