Barrick Gold (NYSE:GOLD) Price Target Cut to $25.00 by Analysts at TD Securities

Barrick Gold (NYSE:GOLD) (TSE:ABX) had its price objective decreased by TD Securities from $26.00 to $25.00 in a report published on Tuesday morning,BayStreet.CA reports. TD Securities currently has a buy rating on the gold and copper producer’s stock.

Other analysts also recently issued reports about the company. Raymond James cut their price objective on Barrick Gold from $26.00 to $25.00 and set an “outperform” rating for the company in a research report on Monday. Argus upgraded shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research report on Thursday, August 29th. Jefferies Financial Group upped their price objective on shares of Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Friday, September 13th. Cibc World Mkts cut shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday. Finally, UBS Group lowered Barrick Gold from a “buy” rating to a “neutral” rating and cut their target price for the company from $23.00 to $22.00 in a research report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $24.91.

Barrick Gold Trading Down 0.7 %

Shares of Barrick Gold stock opened at $17.56 on Tuesday. The stock has a 50 day moving average of $19.36 and a 200 day moving average of $18.54. 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 capitalization of $30.70 billion, a price-to-earnings ratio of 18.88, a PEG ratio of 0.43 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.

Barrick Gold Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a dividend of $0.10 per share. The ex-dividend date is Friday, November 29th. This represents a $0.40 annualized dividend and a yield of 2.28%. Barrick Gold’s payout ratio is 43.01%.

Institutional Investors Weigh In On Barrick Gold

Hedge funds have recently bought and sold shares of the stock. Synovus Financial Corp purchased a new stake in shares of Barrick Gold in the 3rd quarter valued at approximately $210,000. Wilmington Savings Fund Society FSB acquired a new stake in Barrick Gold in the third quarter valued at $517,000. Chelsea Counsel Co. raised its stake in Barrick Gold by 1.4% in the third quarter. Chelsea Counsel Co. now owns 42,973 shares of the gold and copper producer’s stock valued at $855,000 after buying an additional 590 shares in the last quarter. Bard Financial Services Inc. lifted its holdings in Barrick Gold by 3.5% during the 3rd quarter. Bard Financial Services Inc. now owns 55,875 shares of the gold and copper producer’s stock worth $1,111,000 after buying an additional 1,875 shares during the last quarter. Finally, Sunbelt Securities Inc. boosted its position in shares of Barrick Gold by 43.9% during the 3rd quarter. Sunbelt Securities Inc. now owns 14,241 shares of the gold and copper producer’s stock worth $283,000 after acquiring an additional 4,345 shares in the last quarter. Institutional investors and hedge funds own 62.85% of the company’s stock.

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.