Barrick Gold (NYSE:GOLD) Given New $20.00 Price Target at Scotiabank

Barrick Gold (NYSE:GOLDFree Report) (TSE:ABX) had its price objective raised by Scotiabank from $19.00 to $20.00 in a report issued on Tuesday morning,Benzinga reports. They currently have a sector perform rating on the gold and copper producer’s stock.

Other research analysts also recently issued reports about the company. Raymond James lowered their price objective on Barrick Gold from $25.00 to $24.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. TD Securities lowered their price objective on Barrick Gold from $24.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. UBS Group downgraded Barrick Gold from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $23.00 to $22.00 in a research note on Wednesday, October 30th. Cibc World Mkts lowered Barrick Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 25th. Finally, Citigroup reduced their price target on Barrick Gold from $23.00 to $17.00 and set a “neutral” rating for the company in a research report on Friday, December 20th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $23.75.

Read Our Latest Stock Report on GOLD

Barrick Gold Price Performance

Shares of NYSE GOLD opened at $18.38 on Tuesday. The company has a market capitalization of $31.74 billion, a price-to-earnings ratio of 19.76, a price-to-earnings-growth ratio of 0.39 and a beta of 0.55. The business has a 50 day simple moving average of $16.27 and a 200-day simple moving average of $18.16. 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 has a twelve month low of $14.27 and a twelve month high of $21.35.

Barrick Gold (NYSE:GOLDGet Free Report) (TSE:ABX) last issued its quarterly earnings data on Wednesday, February 12th. The gold and copper producer reported $0.46 EPS for the quarter, hitting analysts’ consensus estimates of $0.46. Barrick Gold had a return on equity of 5.82% and a net margin of 13.19%. As a group, equities research analysts expect that Barrick Gold will post 1.23 earnings per share for the current year.

Barrick Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.40 annualized dividend and a dividend yield of 2.18%. Barrick Gold’s dividend payout ratio (DPR) is 32.52%.

Barrick Gold announced that its Board of Directors has authorized a stock buyback plan on Wednesday, February 12th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the gold and copper producer to reacquire up to 3.2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Institutional Trading of Barrick Gold

Institutional investors have recently modified their holdings of the company. Vega Investment Solutions acquired a new stake in shares of Barrick Gold during the fourth quarter worth $31,000. Brickwood Asset Management LLP acquired a new stake in shares of Barrick Gold during the fourth quarter worth $27,193,000. Vise Technologies Inc. raised its position in shares of Barrick Gold by 36.8% during the fourth quarter. Vise Technologies Inc. now owns 28,932 shares of the gold and copper producer’s stock worth $448,000 after purchasing an additional 7,783 shares during the period. Inspire Trust Co. N.A. raised its position in shares of Barrick Gold by 30.2% during the fourth quarter. Inspire Trust Co. N.A. now owns 64,700 shares of the gold and copper producer’s stock worth $1,003,000 after purchasing an additional 15,000 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Barrick Gold by 37.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,438,944 shares of the gold and copper producer’s stock worth $22,304,000 after purchasing an additional 390,531 shares during the period. Institutional investors and hedge funds own 62.85% of the company’s stock.

About Barrick Gold

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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.

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