Barrick Gold (NYSE:GOLD) Trading Down 0.6% – Here’s What Happened

Shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) fell 0.6% on Friday . The stock traded as low as $16.72 and last traded at $16.75. 4,534,191 shares traded hands during trading, a decline of 79% from the average session volume of 21,356,125 shares. The stock had previously closed at $16.85.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Royal Bank of Canada boosted 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. Argus upgraded shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a report on Thursday, August 29th. Raymond James reduced their target price on shares of Barrick Gold from $26.50 to $26.00 and set an “outperform” rating for the company in a report on Thursday, September 26th. Scotiabank dropped their price target on Barrick Gold from $25.00 to $24.00 and set a “sector outperform” rating on the stock in a report on Friday, November 8th. Finally, Jefferies Financial Group raised their price objective on Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $23.90.

Barrick Gold Stock Performance

The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.06 and a current ratio of 2.65. The firm has a 50 day moving average of $19.69 and a 200-day moving average of $18.46. The stock has a market capitalization of $29.11 billion, a PE ratio of 17.90, a P/E/G ratio of 0.40 and a beta of 0.56.

Barrick Gold Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date is Friday, November 29th. Barrick Gold’s payout ratio is presently 43.01%.

Institutional Investors Weigh In On Barrick Gold

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GOLD. Kingsview Wealth Management LLC purchased a new stake in shares of Barrick Gold during the first quarter worth $190,000. Orion Portfolio Solutions LLC raised its stake in shares of Barrick Gold by 6.0% during the 1st quarter. Orion Portfolio Solutions LLC now owns 82,133 shares of the gold and copper producer’s stock worth $1,367,000 after purchasing an additional 4,652 shares in the last quarter. Banco Santander S.A. purchased a new stake in shares of Barrick Gold during the 1st quarter worth about $191,000. Intech Investment Management LLC acquired a new stake in shares of Barrick Gold during the 1st quarter valued at about $697,000. Finally, Vanguard Group Inc. grew its stake in shares of Barrick Gold by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 64,761,067 shares of the gold and copper producer’s stock valued at $1,077,624,000 after buying an additional 1,089,572 shares in the last quarter. Hedge funds and other 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.