Barrick Gold (NYSE:GOLD) Trading 0.1% Higher – Time to Buy?

Shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) rose 0.1% during mid-day trading on Thursday . The company traded as high as $17.75 and last traded at $17.57. Approximately 21,836,268 shares traded hands during mid-day trading, an increase of 1% from the average daily volume of 21,586,721 shares. The stock had previously closed at $17.56.

Analyst Ratings Changes

Several analysts recently issued reports on the company. 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 report on Wednesday, October 30th. Royal Bank of Canada boosted their target price on shares of Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Berenberg Bank upped their target price on shares of Barrick Gold from $37.00 to $38.00 in a research report on Tuesday. Jefferies Financial Group lifted their price target on shares of Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a report on Friday, September 13th. Finally, Scotiabank dropped their price objective on shares of Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating for the company in a report on Monday, November 25th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $25.60.

Barrick Gold Trading Up 0.1 %

The stock has a market cap of $30.57 billion, a P/E ratio of 18.81, a P/E/G ratio of 0.48 and a beta of 0.56. 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 moving average is $19.20 and its 200 day moving average is $18.53.

Barrick Gold Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.40 annualized dividend and a dividend yield of 2.29%. Barrick Gold’s dividend payout ratio (DPR) is presently 43.01%.

Institutional Trading of Barrick Gold

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GOLD. DCF Advisers LLC grew its stake in shares of Barrick Gold by 48.3% during the second quarter. DCF Advisers LLC now owns 107,500 shares of the gold and copper producer’s stock valued at $1,793,000 after buying an additional 35,000 shares during the last quarter. Mizuho Markets Americas LLC boosted its holdings in Barrick Gold by 21.7% during the 3rd quarter. Mizuho Markets Americas LLC now owns 2,317,580 shares of the gold and copper producer’s stock valued at $46,097,000 after acquiring an additional 413,012 shares during the period. Entropy Technologies LP bought a new position in Barrick Gold in the 3rd quarter valued at $3,711,000. Aigen Investment Management LP increased its stake in Barrick Gold by 330.5% in the third quarter. Aigen Investment Management LP now owns 99,240 shares of the gold and copper producer’s stock worth $1,974,000 after purchasing an additional 76,186 shares during the period. Finally, Evexia Wealth LLC bought a new stake in shares of Barrick Gold during the third quarter worth $2,382,000. 62.85% of the stock is 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.