Barrick Gold (NYSE:GOLD) Stock Rating Lowered by Scotiabank

Barrick Gold (NYSE:GOLD) (TSE:ABX) was downgraded by investment analysts at Scotiabank from a “sector outperform” rating to a “sector perform” rating in a note issued to investors on Tuesday, MarketBeat.com reports. They currently have a $19.00 price objective on the gold and copper producer’s stock, down from their previous price objective of $23.00. Scotiabank’s target price would suggest a potential upside of 20.60% from the company’s previous close.

Several other research firms have also commented on GOLD. Cibc World Mkts lowered Barrick Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 25th. CIBC downgraded Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research note on Monday, November 25th. UBS Group cut Barrick Gold from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $23.00 to $22.00 in a research report on Wednesday, October 30th. TD Securities reduced their target price on shares of Barrick Gold from $26.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. Finally, Berenberg Bank lifted their price target on shares of Barrick Gold from $37.00 to $38.00 in a report on Tuesday, November 26th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $24.45.

Barrick Gold Trading Down 1.4 %

Barrick Gold stock opened at $15.76 on Tuesday. Barrick Gold has a 52-week low of $13.76 and a 52-week high of $21.35. The company has a market cap of $27.21 billion, a P/E ratio of 16.94, a P/E/G ratio of 0.31 and a beta of 0.54. The company has a quick ratio of 2.06, a current ratio of 2.65 and a debt-to-equity ratio of 0.14. The business has a 50-day simple moving average of $16.47 and a two-hundred day simple moving average of $18.35.

Institutional Trading of Barrick Gold

A number of large investors have recently added to or reduced their stakes in GOLD. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Barrick Gold by 17.0% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 31,172 shares of the gold and copper producer’s stock valued at $515,000 after purchasing an additional 4,521 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of Barrick Gold in the 2nd quarter worth $383,000. Sei Investments Co. increased its holdings in shares of Barrick Gold by 23.4% in the 2nd quarter. Sei Investments Co. now owns 846,374 shares of the gold and copper producer’s stock worth $14,117,000 after buying an additional 160,498 shares during the last quarter. Ensign Peak Advisors Inc lifted its holdings in shares of Barrick Gold by 3.1% in the 2nd quarter. Ensign Peak Advisors Inc now owns 130,120 shares of the gold and copper producer’s stock valued at $2,250,000 after acquiring an additional 3,900 shares during the last quarter. Finally, 1832 Asset Management L.P. grew its position in Barrick Gold by 35.5% in the second quarter. 1832 Asset Management L.P. now owns 1,476,704 shares of the gold and copper producer’s stock worth $24,631,000 after acquiring an additional 386,849 shares in the last quarter. Institutional investors own 62.85% of the company’s stock.

About Barrick Gold

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.