Barrick Gold (NYSE:GOLD) Trading 2% Higher – Time to Buy?

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX)’s stock price traded up 2% on Tuesday . The stock traded as high as $17.72 and last traded at $17.55. 7,891,310 shares were traded during trading, a decline of 63% from the average session volume of 21,407,131 shares. The stock had previously closed at $17.20.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Royal Bank of Canada raised their target price on shares of Barrick Gold from $21.00 to $22.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Raymond James lowered their price target 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. TD Securities lowered their price target on shares of Barrick Gold from $27.00 to $26.00 and set a “buy” rating for the company in a report on Friday, November 8th. Jefferies Financial Group lifted their price target on shares of Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Friday, September 13th. Finally, UBS Group downgraded shares of 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 report on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $23.90.

Barrick Gold Trading Up 1.0 %

The business’s fifty day moving average is $19.58 and its 200-day moving average is $18.50. The stock has a market capitalization of $31.29 billion, a PE ratio of 19.25, a P/E/G ratio of 0.42 and a beta of 0.56. The company has a quick ratio of 2.06, a current ratio of 2.65 and a debt-to-equity ratio of 0.14.

Barrick Gold Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a yield of 2.23%. Barrick Gold’s dividend payout ratio (DPR) is 43.01%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Clean Yield Group acquired a new position in Barrick Gold during the first quarter valued at approximately $25,000. Exchange Traded Concepts LLC lifted its position in shares of Barrick Gold by 198.1% during the third quarter. Exchange Traded Concepts LLC now owns 1,407 shares of the gold and copper producer’s stock worth $28,000 after purchasing an additional 935 shares in the last quarter. Crewe Advisors LLC lifted its position in shares of Barrick Gold by 628.8% during the second 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. acquired a new position in shares of Barrick Gold during the second quarter worth $32,000. Finally, Eastern Bank acquired a new position in shares of Barrick Gold during the third quarter worth $32,000. 62.85% of the stock is owned by institutional investors and hedge funds.

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.