Short Interest in Barrick Gold Corp (NYSE:GOLD) Rises By 62.0%

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) was the recipient of a significant growth in short interest in October. As of October 31st, there was short interest totalling 17,881,600 shares, a growth of 62.0% from the October 15th total of 11,035,200 shares. Based on an average trading volume of 20,252,000 shares, the short-interest ratio is currently 0.9 days. Approximately 1.0% of the company’s stock are short sold.

Institutional Investors Weigh In On Barrick Gold

A number of institutional investors and hedge funds have recently made changes to their positions in GOLD. Ritholtz Wealth Management grew its holdings in 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 buying an additional 502 shares in the last quarter. Greenleaf Trust grew its holdings in shares of Barrick Gold by 2.1% during the 3rd quarter. Greenleaf Trust now owns 25,659 shares of the gold and copper producer’s stock worth $510,000 after purchasing an additional 540 shares in the last quarter. Moors & Cabot Inc. grew its holdings in shares of Barrick Gold by 0.9% during the 3rd 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. Silverlake Wealth Management LLC grew its holdings in shares of Barrick Gold by 1.3% during the 3rd quarter. Silverlake Wealth Management LLC now owns 49,890 shares of the gold and copper producer’s stock worth $992,000 after purchasing an additional 628 shares in the last quarter. Finally, Avior Wealth Management LLC grew its holdings in shares of Barrick Gold by 24.1% during the 3rd quarter. Avior Wealth Management LLC now owns 3,399 shares of the gold and copper producer’s stock worth $68,000 after purchasing an additional 659 shares in the last quarter. Institutional investors own 62.85% of the company’s stock.

Barrick Gold Price Performance

Barrick Gold stock opened at $16.64 on Friday. The firm has a market capitalization of $29.09 billion, a P/E ratio of 18.01, a PEG ratio of 0.40 and a beta of 0.56. Barrick Gold has a 1 year low of $13.76 and a 1 year high of $21.35. The business has a 50-day moving average of $19.74 and a 200-day moving average of $18.46. The company has a current ratio of 2.65, a quick ratio of 2.06 and a debt-to-equity ratio of 0.14.

Barrick Gold Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend is Friday, November 29th. Barrick Gold’s payout ratio is 43.01%.

Wall Street Analysts Forecast Growth

GOLD has been the topic of a number of analyst reports. Scotiabank dropped their price objective on shares of Barrick Gold from $25.00 to $24.00 and set a “sector outperform” rating on the stock in a report on Friday, November 8th. Jefferies Financial Group raised their target price on shares of Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Friday, September 13th. UBS Group cut shares of Barrick Gold from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $23.00 to $22.00 in a report on Wednesday, October 30th. Royal Bank of Canada increased their price target on shares of Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Finally, Argus raised shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research report on Thursday, August 29th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Barrick Gold has a consensus rating of “Moderate Buy” and a consensus target price of $23.90.

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.