Barrick Gold (NYSE:GOLD) Given New $38.00 Price Target at Berenberg Bank

Barrick Gold (NYSE:GOLD) (TSE:ABX) had its price target lifted by Berenberg Bank from $37.00 to $38.00 in a research note released on Tuesday,BayStreet.CA reports.

GOLD has been the subject of a number of other research reports. Royal Bank of Canada lifted their price objective on Barrick Gold from $21.00 to $22.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. UBS Group lowered 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 research report on Wednesday, October 30th. Raymond James dropped their price target 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. Cibc World Mkts lowered shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday. Finally, Jefferies Financial Group upped their target price on shares of Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Barrick Gold currently has an average rating of “Moderate Buy” and an average target price of $24.91.

Barrick Gold Price Performance

Shares of GOLD opened at $17.56 on Tuesday. Barrick Gold has a fifty-two week low of $13.76 and a fifty-two week high of $21.35. The firm’s 50-day simple moving average is $19.36 and its two-hundred day simple moving average is $18.54. The stock has a market cap of $30.70 billion, a PE 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.

Barrick Gold Announces Dividend

The business 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 dividend of $0.10 per share. The ex-dividend date is Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a yield of 2.28%. Barrick Gold’s dividend payout ratio is presently 43.01%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Clean Yield Group bought a new position in shares of Barrick Gold in the 1st quarter worth approximately $25,000. Exchange Traded Concepts LLC boosted its stake in shares of 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 worth $28,000 after acquiring an additional 935 shares during the last quarter. Crewe Advisors LLC increased its stake in shares of Barrick Gold by 628.8% in the 2nd quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer’s stock worth $30,000 after purchasing an additional 1,572 shares in the last quarter. Jackson Grant Investment Advisers Inc. bought a new position in Barrick Gold in the 2nd quarter worth $32,000. Finally, Eastern Bank bought a new stake in Barrick Gold during the third quarter valued at about $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.