Barrick Gold Corp (NYSE:GOLD) Receives Average Recommendation of “Moderate Buy” from Brokerages

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) has been assigned a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are presently covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1 year target price among analysts that have covered the stock in the last year is $24.82.

GOLD has been the subject of several analyst reports. Jefferies Financial Group increased their target price on Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a report on Friday, September 13th. Royal Bank of Canada raised 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. CIBC cut shares of Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research report on Monday, November 25th. Scotiabank decreased their price objective on shares of Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating on the stock in a research report on Monday, November 25th. Finally, TD Securities dropped their target price on shares of Barrick Gold from $26.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, November 26th.

Institutional Investors Weigh In On Barrick Gold

Hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its holdings in shares of Barrick Gold by 1.2% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 836,059 shares of the gold and copper producer’s stock valued at $13,945,000 after buying an additional 9,980 shares in the last quarter. Checchi Capital Advisers LLC bought a new stake in Barrick Gold during the second quarter worth about $168,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Barrick Gold by 4.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 509,140 shares of the gold and copper producer’s stock worth $8,491,000 after purchasing an additional 23,883 shares during the period. Crewe Advisors LLC increased its stake in shares of Barrick Gold by 628.8% during the second quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer’s stock valued at $30,000 after purchasing an additional 1,572 shares in the last quarter. Finally, Boston Financial Mangement LLC lifted its holdings in shares of Barrick Gold by 9.3% during the second quarter. Boston Financial Mangement LLC now owns 106,000 shares of the gold and copper producer’s stock valued at $1,768,000 after purchasing an additional 9,000 shares during the last quarter. 62.85% of the stock is currently owned by institutional investors.

Barrick Gold Stock Performance

Barrick Gold stock opened at $15.71 on Wednesday. The firm has a fifty day simple moving average of $18.08 and a two-hundred day simple moving average of $18.48. Barrick Gold has a twelve month low of $13.76 and a twelve month high of $21.35. The company has a market capitalization of $27.35 billion, a PE ratio of 16.89, a P/E/G ratio of 0.47 and a beta of 0.53. 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 company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.55%. Barrick Gold’s dividend payout ratio (DPR) is 43.01%.

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.