Barrick Gold (NYSE:GOLD) Stock Price Up 0.5% – Time to Buy?

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX)’s stock price was up 0.5% during trading on Thursday . The stock traded as high as $15.82 and last traded at $15.79. Approximately 2,354,946 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 21,294,051 shares. The stock had previously closed at $15.71.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on GOLD shares. UBS Group lowered Barrick Gold from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $23.00 to $22.00 in a research note on Wednesday, October 30th. CIBC downgraded shares of Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research report on Monday, November 25th. Scotiabank cut their price target on shares of Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating on the stock in a report on Monday, November 25th. Jefferies Financial Group increased their price objective on shares of Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, September 13th. Finally, Raymond James dropped their target price on shares of Barrick Gold from $26.00 to $25.00 and set an “outperform” rating for the company in a research report on Monday, November 25th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.82.

Barrick Gold Stock Down 0.4 %

The stock has a market cap of $27.30 billion, a P/E ratio of 16.86, a PEG ratio of 0.47 and a beta of 0.53. The stock’s fifty day simple moving average is $17.71 and its 200-day simple moving average is $18.43. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.65 and a quick ratio of 2.06.

Barrick Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a yield of 2.55%. Barrick Gold’s payout ratio is currently 43.01%.

Hedge Funds Weigh In On Barrick Gold

Several hedge funds and other institutional investors have recently modified their holdings of the company. Ritholtz Wealth Management boosted its stake in Barrick Gold by 2.8% during the 3rd quarter. Ritholtz Wealth Management now owns 18,163 shares of the gold and copper producer’s stock valued at $361,000 after purchasing an additional 502 shares during the period. Greenleaf Trust raised its holdings in shares of Barrick Gold by 2.1% during the third quarter. Greenleaf Trust now owns 25,659 shares of the gold and copper producer’s stock valued at $510,000 after buying an additional 540 shares during the last quarter. Moors & Cabot Inc. boosted its position in shares of 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 buying an additional 579 shares during the period. Chelsea Counsel Co. grew its holdings in Barrick Gold by 1.4% in the 3rd 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 in the last quarter. Finally, Silverlake Wealth Management LLC increased its position in Barrick Gold by 1.3% in the 3rd quarter. Silverlake Wealth Management LLC now owns 49,890 shares of the gold and copper producer’s stock valued at $992,000 after acquiring an additional 628 shares during the period. Institutional investors and hedge funds 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.