Barrick Gold (NYSE:GOLD) Stock Price Down 0.1% – Should You Sell?

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX)’s stock price was down 0.1% during trading on Friday . The stock traded as low as $15.46 and last traded at $15.73. Approximately 3,464,043 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 21,251,080 shares. The stock had previously closed at $15.74.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on GOLD shares. TD Securities reduced their price target on Barrick Gold from $26.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. CIBC downgraded Barrick Gold from a “sector outperform” rating to a “neutral” rating in a report on Monday, November 25th. Jefferies Financial Group upped their price objective 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. Citigroup lowered their target price on shares of Barrick Gold from $23.00 to $17.00 and set a “neutral” rating for the company in a research note on Friday, December 20th. Finally, Cibc World Mkts lowered shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 25th. Five research 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 an average rating of “Moderate Buy” and a consensus price target of $24.82.

Barrick Gold Stock Down 0.4 %

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 firm has a market cap of $27.30 billion, a price-to-earnings ratio of 16.86, a PEG ratio of 0.47 and a beta of 0.53. The business’s 50 day moving average price is $17.71 and its 200 day moving average price is $18.45.

Barrick Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were given a $0.10 dividend. 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 currently 43.01%.

Institutional Investors Weigh In On Barrick Gold

A number of institutional investors have recently modified their holdings of the business. Connor Clark & Lunn Investment Management Ltd. boosted its position in Barrick Gold by 221.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,027,811 shares of the gold and copper producer’s stock worth $199,427,000 after purchasing an additional 6,904,934 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in Barrick Gold by 4,713.3% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,144,456 shares of the gold and copper producer’s stock valued at $69,141,000 after acquiring an additional 4,058,351 shares during the period. Letko Brosseau & Associates Inc. purchased a new stake in Barrick Gold in the 2nd quarter worth $66,820,000. The Manufacturers Life Insurance Company raised its position in Barrick Gold by 33.3% during the third quarter. The Manufacturers Life Insurance Company now owns 11,431,497 shares of the gold and copper producer’s stock worth $227,524,000 after acquiring an additional 2,854,055 shares during the period. Finally, Mizuho Markets Americas LLC acquired a new stake in shares of Barrick Gold in the second quarter valued at about $31,768,000. 62.85% of the stock is currently owned by institutional investors and hedge funds.

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.