Barrick Gold (NYSE:GOLD) Rating Lowered to “Neutral” at CIBC

Barrick Gold (NYSE:GOLD) (TSE:ABX) was downgraded by stock analysts at CIBC from a “sector outperform” rating to a “neutral” rating in a research note issued on Monday, Marketbeat.com reports.

GOLD has been the topic of a number of other reports. 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 note on Friday, September 13th. UBS Group downgraded shares of Barrick Gold from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $23.00 to $22.00 in a report on Wednesday, October 30th. TD Securities reduced their price objective on shares of Barrick Gold from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Argus upgraded shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research note on Thursday, August 29th. Finally, Raymond James reduced their price target on shares of Barrick Gold from $26.50 to $26.00 and set an “outperform” rating for the company in a research report on Thursday, September 26th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Barrick Gold has a consensus rating of “Moderate Buy” and an average target price of $24.91.

Barrick Gold Trading Down 0.7 %

Shares of GOLD opened at $17.56 on Monday. Barrick Gold has a fifty-two week low of $13.76 and a fifty-two week high of $21.35. The business has a 50-day moving average of $19.36 and a 200 day moving average of $18.54. The firm has a market cap of $30.70 billion, a P/E ratio of 18.88, a price-to-earnings-growth ratio of 0.43 and a beta of 0.56. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.06 and a current ratio of 2.65.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GOLD. Clean Yield Group purchased a new stake in shares of Barrick Gold in the first quarter worth $25,000. Exchange Traded Concepts LLC increased its stake in Barrick Gold by 198.1% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,407 shares of the gold and copper producer’s stock valued at $28,000 after purchasing an additional 935 shares in the last quarter. Crewe Advisors LLC raised its holdings in Barrick Gold by 628.8% in the second quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer’s stock worth $30,000 after buying an additional 1,572 shares during the last quarter. Jackson Grant Investment Advisers Inc. bought a new position in shares of Barrick Gold in the second quarter worth approximately $32,000. Finally, Eastern Bank purchased a new stake in shares of Barrick Gold during the third quarter valued at approximately $32,000. 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.