Barrick Gold (NYSE:GOLD) Stock Price Up 0.3% – Time to Buy?

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) traded up 0.3% on Friday . The company traded as high as $18.23 and last traded at $18.18. 4,062,380 shares changed hands during trading, a decline of 81% from the average session volume of 21,465,635 shares. The stock had previously closed at $18.12.

Analysts Set New Price Targets

GOLD has been the topic of a number of analyst reports. Scotiabank dropped their price target on shares of 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. TD Securities decreased their price target on shares of Barrick Gold from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Royal Bank of Canada raised their target price on shares of Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Jefferies Financial Group boosted their price objective on Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Finally, Raymond James reduced their price target on shares of Barrick Gold from $26.50 to $26.00 and set an “outperform” rating on the stock in a report on Thursday, September 26th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Barrick Gold currently has an average rating of “Moderate Buy” and a consensus target price of $23.90.

Barrick Gold Stock Performance

The company has a debt-to-equity ratio of 0.14, a current ratio of 2.65 and a quick ratio of 2.06. The stock has a market capitalization of $31.85 billion, a price-to-earnings ratio of 19.59, a price-to-earnings-growth ratio of 0.43 and a beta of 0.56. The firm has a fifty day moving average of $19.47 and a 200 day moving average of $18.52.

Barrick Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a $0.10 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a yield of 2.20%. Barrick Gold’s payout ratio is 43.01%.

Hedge Funds Weigh In On Barrick Gold

Hedge funds have recently bought and sold shares of the business. Clean Yield Group acquired a new position in shares of Barrick Gold during the 1st quarter worth approximately $25,000. Exchange Traded Concepts LLC raised 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 worth $28,000 after acquiring an additional 935 shares during the period. Crewe Advisors LLC lifted its holdings in 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 in the last quarter. Jackson Grant Investment Advisers Inc. acquired a new stake in shares of Barrick Gold in the second quarter valued at about $32,000. Finally, Eastern Bank purchased a new stake in shares of Barrick Gold during the third quarter worth about $32,000. Hedge funds and other institutional investors own 62.85% of the company’s stock.

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.