Barrick Gold (NYSE:GOLD) Price Target Lowered to $25.00 at Raymond James

Barrick Gold (NYSE:GOLD) (TSE:ABX) had its price target lowered by Raymond James from $26.00 to $25.00 in a research report report published on Monday,Benzinga reports. Raymond James currently has an outperform rating on the gold and copper producer’s stock.

A number of other equities analysts have also commented on the company. CIBC lowered Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research note on Monday. TD Securities lowered their price objective on Barrick Gold from $27.00 to $26.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Argus upgraded Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research note on Thursday, August 29th. Royal Bank of Canada raised their price objective on Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Finally, Scotiabank lowered their price objective 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. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $24.91.

Barrick Gold Price Performance

Shares of NYSE GOLD opened at $17.58 on Monday. The firm has a market cap of $30.73 billion, a P/E ratio of 18.90, a price-to-earnings-growth ratio of 0.42 and a beta of 0.56. The company has a current ratio of 2.65, a quick ratio of 2.06 and a debt-to-equity ratio of 0.14. Barrick Gold has a 1-year low of $13.76 and a 1-year high of $21.35. The business’s 50 day moving average is $19.31 and its 200-day moving average is $18.53.

Barrick Gold Announces Dividend

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

Institutional Investors Weigh In On Barrick Gold

Hedge funds have recently modified their holdings of the company. DCF Advisers LLC boosted its holdings in shares of Barrick Gold by 48.3% during the 2nd quarter. DCF Advisers LLC now owns 107,500 shares of the gold and copper producer’s stock valued at $1,793,000 after acquiring an additional 35,000 shares in the last quarter. Mizuho Markets Americas LLC boosted its holdings in shares of 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 in the last quarter. Entropy Technologies LP acquired a new stake in shares of Barrick Gold during the 3rd quarter valued at $3,711,000. Aigen Investment Management LP boosted its holdings in shares of Barrick Gold by 330.5% during the 3rd quarter. Aigen Investment Management LP now owns 99,240 shares of the gold and copper producer’s stock valued at $1,974,000 after acquiring an additional 76,186 shares in the last quarter. Finally, Evexia Wealth LLC acquired a new stake in shares of Barrick Gold during the 3rd quarter valued at $2,382,000. 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.