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

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) has received a consensus recommendation of “Moderate Buy” from the eleven analysts that are covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $24.45.

Several research firms recently issued reports on GOLD. Scotiabank lowered shares of Barrick Gold from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the company from $23.00 to $19.00 in a research note on Tuesday. Cibc World Mkts lowered Barrick Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, November 25th. Berenberg Bank boosted their target price on Barrick Gold from $37.00 to $38.00 in a report on Tuesday, November 26th. TD Securities lowered their price target on Barrick Gold from $26.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. Finally, UBS Group cut shares of Barrick Gold from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $23.00 to $22.00 in a research note on Wednesday, October 30th.

Hedge Funds Weigh In On Barrick Gold

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Barrick Gold by 221.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,027,811 shares of the gold and copper producer’s stock valued at $199,427,000 after purchasing an additional 6,904,934 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Barrick Gold by 4,713.3% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,144,456 shares of the gold and copper producer’s stock worth $69,141,000 after buying an additional 4,058,351 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Barrick Gold by 33.3% in the third quarter. The Manufacturers Life Insurance Company now owns 11,431,497 shares of the gold and copper producer’s stock valued at $227,524,000 after acquiring an additional 2,854,055 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Barrick Gold by 2.7% in the 3rd quarter. Wellington Management Group LLP now owns 54,712,508 shares of the gold and copper producer’s stock worth $1,088,484,000 after acquiring an additional 1,458,084 shares in the last quarter. Finally, Sound Shore Management Inc. CT grew its position in Barrick Gold by 48.2% during the 2nd quarter. Sound Shore Management Inc. CT now owns 4,455,551 shares of the gold and copper producer’s stock worth $74,319,000 after acquiring an additional 1,449,862 shares during the last quarter. 62.85% of the stock is currently owned by institutional investors.

Barrick Gold Trading Down 0.2 %

NYSE:GOLD opened at $15.98 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.06 and a current ratio of 2.65. The company has a market capitalization of $27.59 billion, a P/E ratio of 17.18, a P/E/G ratio of 0.30 and a beta of 0.54. The stock’s 50 day moving average price is $16.50 and its 200 day moving average price is $18.36. Barrick Gold has a 52 week low of $13.76 and a 52 week high of $21.35.

Barrick Gold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were given a $0.10 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.40 annualized dividend and a yield of 2.50%. Barrick Gold’s dividend payout ratio is 43.01%.

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.