Raymond James Lowers Barrick Gold (NYSE:GOLD) Price Target to $25.00

Barrick Gold (NYSE:GOLD) (TSE:ABX) had its price target decreased by Raymond James from $26.00 to $25.00 in a research report report published on Monday,Benzinga reports. Raymond James currently has an outperform rating on the gold and copper producer’s stock.

GOLD has been the topic of several other research reports. TD Securities dropped their price target on shares of Barrick Gold from $27.00 to $26.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Argus raised Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research note on Thursday, August 29th. Jefferies Financial Group increased their price target on Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Scotiabank cut their price objective on shares of Barrick Gold from $25.00 to $24.00 and set a “sector outperform” rating on the stock in a research note on Friday, November 8th. Finally, UBS Group lowered shares of Barrick Gold from a “buy” rating to a “neutral” rating and decreased their target price for the company from $23.00 to $22.00 in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $23.70.

Barrick Gold Stock Down 2.9 %

Barrick Gold stock opened at $17.69 on Monday. The firm has a market capitalization of $30.92 billion, a P/E ratio of 19.02, a P/E/G ratio of 0.43 and a beta of 0.56. The company has a 50-day simple moving average of $19.42 and a 200-day simple moving average of $18.53. Barrick Gold has a one year low of $13.76 and a one year high of $21.35. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.40 annualized dividend and a dividend yield of 2.26%. Barrick Gold’s dividend payout ratio is currently 43.01%.

Institutional Trading of Barrick Gold

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Clean Yield Group acquired a new position in Barrick Gold in the first 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 in the last quarter. Crewe Advisors LLC grew its holdings 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 acquiring an additional 1,572 shares during the last quarter. Jackson Grant Investment Advisers Inc. acquired a new stake in shares of Barrick Gold during the second quarter worth $32,000. Finally, Eastern Bank purchased a new stake in shares of Barrick Gold during the third quarter valued at $32,000. 62.85% of the stock is owned by institutional investors and hedge funds.

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.