Barrick Gold Target of Unusually High Options Trading (NYSE:GOLD)

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) was the recipient of unusually large options trading on Tuesday. Stock investors purchased 64,396 call options on the company. This represents an increase of approximately 28% compared to the average volume of 50,330 call options.

Barrick Gold Trading Up 3.1 %

GOLD opened at $17.73 on Wednesday. The company’s 50 day moving average price is $19.61 and its two-hundred day moving average price is $18.50. The firm has a market capitalization of $30.99 billion, a price-to-earnings ratio of 19.06, a PEG ratio of 0.39 and a beta of 0.56. Barrick Gold has a fifty-two week low of $13.76 and a fifty-two week high of $21.35. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.65 and a quick ratio of 2.06.

Barrick Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date is Friday, November 29th. Barrick Gold’s dividend payout ratio is currently 43.01%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. TD Securities decreased their target price on Barrick Gold from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Scotiabank dropped their price target on 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. Royal Bank of Canada lifted their target price on Barrick Gold from $21.00 to $22.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. Raymond James reduced their price target on Barrick Gold from $26.50 to $26.00 and set an “outperform” rating for the company in a research report on Thursday, September 26th. Finally, UBS Group lowered shares of Barrick Gold from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $23.00 to $22.00 in a research report on Wednesday, October 30th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $23.90.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Clean Yield Group bought a new stake in Barrick Gold in the first quarter valued at $25,000. Exchange Traded Concepts LLC raised its position in shares of Barrick Gold by 198.1% during the third quarter. Exchange Traded Concepts LLC now owns 1,407 shares of the gold and copper producer’s stock worth $28,000 after purchasing an additional 935 shares during the period. Crewe Advisors LLC grew its position in Barrick Gold by 628.8% in the 2nd 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 during the period. Jackson Grant Investment Advisers Inc. acquired a new stake in Barrick Gold in the 2nd quarter valued at $32,000. Finally, Eastern Bank bought a new stake in Barrick Gold during the 3rd quarter valued at $32,000. 62.85% of the stock is owned by 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.