Barrick Gold Corp (NYSE:GOLD) Receives $24.82 Consensus Price Target from Analysts

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) has been assigned a consensus recommendation of “Moderate Buy” from the twelve analysts that are presently covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $24.82.

GOLD has been the subject of several research reports. CIBC lowered Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research report on Monday, November 25th. Raymond James decreased their price target on shares of Barrick Gold from $26.00 to $25.00 and set an “outperform” rating for the company in a report on Monday, November 25th. TD Securities dropped their price objective on shares of Barrick Gold from $26.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. Scotiabank decreased their target price on Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating for the company in a research note on Monday, November 25th. Finally, Citigroup dropped their price target on Barrick Gold from $23.00 to $17.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th.

Barrick Gold Price Performance

GOLD opened at $15.68 on Wednesday. The company has a market capitalization of $27.30 billion, a P/E ratio of 16.86, a PEG ratio of 0.47 and a beta of 0.53. The company has a 50-day moving average of $17.71 and a 200-day moving average of $18.43. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.06 and a current ratio of 2.65. Barrick Gold has a 1-year low of $13.76 and a 1-year high of $21.35.

Barrick Gold Dividend Announcement

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC boosted its stake in Barrick Gold by 1.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 836,059 shares of the gold and copper producer’s stock valued at $13,945,000 after buying an additional 9,980 shares in the last quarter. Checchi Capital Advisers LLC acquired a new position in shares of Barrick Gold in the 2nd quarter worth approximately $168,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Barrick Gold by 4.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 509,140 shares of the gold and copper producer’s stock worth $8,491,000 after purchasing an additional 23,883 shares in the last quarter. Crewe Advisors LLC lifted its stake 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 during the last quarter. Finally, Boston Financial Mangement LLC boosted its holdings in Barrick Gold by 9.3% during the second quarter. Boston Financial Mangement LLC now owns 106,000 shares of the gold and copper producer’s stock worth $1,768,000 after buying an additional 9,000 shares in the last quarter. 62.85% of the stock is currently owned by institutional investors.

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.