Barrick Gold (NYSE:GOLD) Trading Up 0.3% – Here’s Why

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

Analyst Ratings Changes

GOLD has been the topic of a number of research reports. UBS Group lowered Barrick Gold from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $23.00 to $22.00 in a report on Wednesday, October 30th. Royal Bank of Canada raised their price target 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. Argus raised shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research note on Thursday, August 29th. Scotiabank decreased their target price 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. Finally, Raymond James dropped 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. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $23.90.

Barrick Gold Stock Up 0.6 %

The company has a quick ratio of 2.06, a current ratio of 2.65 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $31.85 billion, a PE ratio of 19.59, a price-to-earnings-growth ratio of 0.43 and a beta of 0.56. The firm has a 50-day moving average of $19.47 and a two-hundred day moving average of $18.52.

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 dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date is Friday, November 29th. Barrick Gold’s payout ratio is 43.01%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of GOLD. Ritholtz Wealth Management raised its stake in shares of Barrick Gold by 2.8% in the 3rd quarter. Ritholtz Wealth Management now owns 18,163 shares of the gold and copper producer’s stock valued at $361,000 after acquiring an additional 502 shares during the period. Greenleaf Trust raised its position in Barrick Gold by 2.1% in the third quarter. Greenleaf Trust now owns 25,659 shares of the gold and copper producer’s stock valued at $510,000 after purchasing an additional 540 shares during the period. Moors & Cabot Inc. lifted its stake in Barrick Gold by 0.9% during the third quarter. Moors & Cabot Inc. now owns 64,085 shares of the gold and copper producer’s stock worth $1,275,000 after purchasing an additional 579 shares in the last quarter. Chelsea Counsel Co. boosted its position in shares of Barrick Gold by 1.4% during the third quarter. Chelsea Counsel Co. now owns 42,973 shares of the gold and copper producer’s stock worth $855,000 after buying an additional 590 shares during the period. Finally, Silverlake Wealth Management LLC boosted its position in shares of Barrick Gold by 1.3% during the third quarter. Silverlake Wealth Management LLC now owns 49,890 shares of the gold and copper producer’s stock worth $992,000 after buying an additional 628 shares during the period. 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.