Barrick Gold (NYSE:GOLD) Price Target Lowered to $25.00 at TD Securities

Barrick Gold (NYSE:GOLD) (TSE:ABX) had its price objective cut by TD Securities from $26.00 to $25.00 in a report released on Tuesday morning,BayStreet.CA reports. They currently have a buy rating on the gold and copper producer’s stock.

GOLD has been the subject of several other reports. Royal Bank of Canada lifted their target price on shares of Barrick Gold from $21.00 to $22.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Jefferies Financial Group lifted their price objective on shares of Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a report on Friday, September 13th. Raymond James lowered their target price on shares of Barrick Gold from $26.00 to $25.00 and set an “outperform” rating on the stock in a research note on Monday. Argus upgraded Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research report on Thursday, August 29th. Finally, UBS Group cut Barrick Gold from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $23.00 to $22.00 in a report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $24.91.

Barrick Gold Stock Down 0.7 %

Barrick Gold stock opened at $17.56 on Tuesday. Barrick Gold has a 52 week low of $13.76 and a 52 week high of $21.35. The firm has a market cap of $30.70 billion, a price-to-earnings ratio of 18.88, a price-to-earnings-growth ratio of 0.43 and a beta of 0.56. The business’s 50-day moving average price is $19.36 and its 200 day moving average price is $18.54. The company has a quick ratio of 2.06, a current ratio of 2.65 and a debt-to-equity ratio of 0.14.

Barrick Gold Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.28%. The ex-dividend date is Friday, November 29th. Barrick Gold’s payout ratio is 43.01%.

Institutional Investors Weigh In On Barrick Gold

A number of large investors have recently modified their holdings of GOLD. Price T Rowe Associates Inc. MD boosted its holdings in shares of Barrick Gold by 19.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,839,056 shares of the gold and copper producer’s stock worth $63,883,000 after purchasing an additional 628,477 shares during the last quarter. Silvercrest Asset Management Group LLC boosted its stake in Barrick Gold by 27.2% during the first quarter. Silvercrest Asset Management Group LLC now owns 56,105 shares of the gold and copper producer’s stock worth $934,000 after buying an additional 12,000 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its holdings in Barrick Gold by 10.7% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 12,895 shares of the gold and copper producer’s stock valued at $215,000 after buying an additional 1,244 shares in the last quarter. Tidal Investments LLC increased its stake in shares of Barrick Gold by 20.4% in the 1st quarter. Tidal Investments LLC now owns 39,196 shares of the gold and copper producer’s stock worth $637,000 after acquiring an additional 6,639 shares during the last quarter. Finally, EdgePoint Investment Group Inc. raised its holdings in shares of Barrick Gold by 38.8% during the 1st quarter. EdgePoint Investment Group Inc. now owns 18,170,814 shares of the gold and copper producer’s stock worth $302,366,000 after acquiring an additional 5,080,510 shares during the period. Hedge funds and other 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.