Barrick Gold (NYSE:GOLD) Shares Up 0.5% – Here’s What Happened

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX)’s stock price rose 0.5% during mid-day trading on Wednesday . The company traded as high as $17.88 and last traded at $17.80. Approximately 3,921,828 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 21,427,764 shares. The stock had previously closed at $17.72.

Analysts Set New Price Targets

A number of analysts have commented on GOLD shares. UBS Group downgraded shares of Barrick Gold from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $23.00 to $22.00 in a research report on Wednesday, October 30th. 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 report on Tuesday, September 10th. Argus raised shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research note on Thursday, August 29th. Jefferies Financial Group raised their price objective on shares of Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Finally, TD Securities reduced their price target on Barrick Gold from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $23.90.

Barrick Gold Price Performance

The firm has a market cap of $31.39 billion, a PE ratio of 19.14, a PEG ratio of 0.39 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. The business has a fifty day moving average of $19.61 and a 200-day moving average of $18.50.

Barrick Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a $0.10 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.23%. Barrick Gold’s dividend payout ratio (DPR) is presently 43.01%.

Hedge Funds Weigh In On Barrick Gold

A number of hedge funds and other institutional investors have recently bought and sold shares of GOLD. Exchange Traded Concepts LLC boosted its position in 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 valued at $28,000 after buying an additional 935 shares during the period. Clean Yield Group bought a new position in Barrick Gold in the first quarter worth $25,000. Eastern Bank purchased a new position in Barrick Gold during the 3rd quarter valued at about $32,000. Crewe Advisors LLC lifted its holdings 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 during the last quarter. Finally, JFS Wealth Advisors LLC raised its stake in Barrick Gold by 451.7% during the third quarter. JFS Wealth Advisors LLC now owns 1,909 shares of the gold and copper producer’s stock valued at $38,000 after buying an additional 1,563 shares during the last quarter. Hedge funds and other institutional investors 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.