Barrick Gold (NYSE:GOLD) Trading Up 0.3% – Should You Buy?

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) shares were up 0.3% on Thursday . The stock traded as high as $18.11 and last traded at $17.94. Approximately 3,868,305 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 21,449,137 shares. The stock had previously closed at $17.89.

Analyst Ratings Changes

GOLD has been the subject of a number of analyst reports. Raymond James decreased their target price on shares of Barrick Gold from $26.50 to $26.00 and set an “outperform” rating for the company in a research report on Thursday, September 26th. Scotiabank decreased their target price on shares of Barrick Gold from $25.00 to $24.00 and set a “sector outperform” rating for the company in a research report on Friday, November 8th. UBS Group cut 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. TD Securities decreased their target price on shares of Barrick Gold from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Finally, Argus raised shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research report on Thursday, August 29th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $23.90.

Barrick Gold Trading Up 0.7 %

The company has a market cap of $31.88 billion, a price-to-earnings ratio of 19.61, a price-to-earnings-growth 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. The company’s 50-day moving average is $19.47 and its 200 day moving average is $18.50.

Barrick Gold Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.40 annualized dividend and a yield of 2.19%. Barrick Gold’s dividend payout ratio is presently 43.01%.

Institutional Trading of Barrick Gold

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC grew its position in shares of Barrick Gold by 198.1% in the third quarter. Exchange Traded Concepts LLC now owns 1,407 shares of the gold and copper producer’s stock valued at $28,000 after purchasing an additional 935 shares during the period. Clean Yield Group acquired a new stake in shares of Barrick Gold in the first quarter valued at about $25,000. Eastern Bank acquired a new stake in shares of Barrick Gold in the third quarter valued at about $32,000. Crewe Advisors LLC grew its position in shares of Barrick Gold by 628.8% in the second quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer’s stock valued at $30,000 after purchasing an additional 1,572 shares during the period. Finally, JFS Wealth Advisors LLC grew its position in shares of Barrick Gold by 451.7% in the third quarter. JFS Wealth Advisors LLC now owns 1,909 shares of the gold and copper producer’s stock valued at $38,000 after purchasing an additional 1,563 shares during the period. Institutional investors and hedge funds 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.