Barrick Gold Corp (NYSE:GOLD) Given Average Rating of "Moderate Buy" by Brokerages

Barrick Gold Corp (NYSE:GOLD - Get Free Report) TSE: ABX has received an average recommendation of "Moderate Buy" from the twelve brokerages that are presently covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $24.82.

A number of research analysts have recently commented on the company. Scotiabank dropped their price target on Barrick Gold from $24.00 to $23.00 and set a "sector outperform" rating for the company in a research note on Monday, November 25th. Argus raised Barrick Gold from a "hold" rating to a "buy" rating and set a $24.00 price target on the stock in a research note on Thursday, August 29th. Cibc World Mkts downgraded Barrick Gold from a "strong-buy" rating to a "hold" rating in a research note on Monday, November 25th. CIBC lowered shares of Barrick Gold from a "sector outperform" rating to a "neutral" rating in a report on Monday, November 25th. Finally, TD Securities reduced their target price on shares of Barrick Gold from $26.00 to $25.00 and set a "buy" rating on the stock in a report on Tuesday, November 26th.

Institutional Investors Weigh In On Barrick Gold

Large investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC boosted its stake in Barrick Gold by 1.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 836,059 shares of the gold and copper producer's stock worth $13,945,000 after acquiring an additional 9,980 shares in the last quarter. Checchi Capital Advisers LLC bought a new position in shares of Barrick Gold during the 2nd quarter worth about $168,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Barrick Gold by 4.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 509,140 shares of the gold and copper producer's stock valued at $8,491,000 after buying an additional 23,883 shares during the period. Crewe Advisors LLC increased its position in 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 valued at $30,000 after buying an additional 1,572 shares in the last quarter. Finally, Boston Financial Mangement LLC raised its stake in Barrick Gold by 9.3% during the 2nd quarter. Boston Financial Mangement LLC now owns 106,000 shares of the gold and copper producer's stock worth $1,768,000 after buying an additional 9,000 shares during the period. Institutional investors and hedge funds own 62.85% of the company's stock.

Barrick Gold Price Performance

NYSE:GOLD traded up $0.12 on Wednesday, hitting $15.71. The company had a trading volume of 9,982,071 shares, compared to its average volume of 21,371,959. Barrick Gold has a 52 week low of $13.76 and a 52 week high of $21.35. The company has a current ratio of 2.65, a quick ratio of 2.06 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $27.35 billion, a price-to-earnings ratio of 16.89, a PEG ratio of 0.47 and a beta of 0.53. The firm has a 50 day moving average of $17.99 and a two-hundred day moving average of $18.48.

Barrick Gold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were issued a $0.10 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.40 annualized dividend and a yield of 2.55%. Barrick Gold's payout ratio is 43.01%.

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.