Barrick Gold (NYSE:GOLD) Stock Rating Lowered by Scotiabank

Barrick Gold (NYSE:GOLD - Get Free Report) TSE: ABX was downgraded by Scotiabank from a "sector outperform" rating to a "sector perform" rating in a note issued to investors on Tuesday, Marketbeat Ratings reports. They currently have a $19.00 price objective on the gold and copper producer's stock, down from their prior price objective of $23.00. Scotiabank's price target would indicate a potential upside of 20.60% from the company's current price.

A number of other brokerages also recently issued reports on GOLD. CIBC downgraded shares of Barrick Gold from a "sector outperform" rating to a "neutral" rating in a research report on Monday, November 25th. Berenberg Bank lifted their price objective on shares of Barrick Gold from $37.00 to $38.00 in a research report on Tuesday, November 26th. TD Securities cut their price objective on shares of Barrick Gold from $26.00 to $25.00 and set a "buy" rating on the stock in a research report on Tuesday, November 26th. Raymond James cut their price objective on shares of Barrick Gold from $26.00 to $25.00 and set an "outperform" rating on the stock in a research report on Monday, November 25th. Finally, Citigroup cut their price objective on shares of Barrick Gold from $23.00 to $17.00 and set a "neutral" rating on the stock in a research report on Friday, December 20th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $24.45.

Barrick Gold Stock Down 1.4 %

Shares of NYSE:GOLD traded down $0.23 during trading hours on Tuesday, hitting $15.76. The company's stock had a trading volume of 18,213,555 shares, compared to its average volume of 16,454,381. Barrick Gold has a 52 week low of $13.76 and a 52 week high of $21.35. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.65 and a quick ratio of 2.06. The company has a market capitalization of $27.21 billion, a price-to-earnings ratio of 16.94, a P/E/G ratio of 0.31 and a beta of 0.54. The firm's fifty day moving average price is $16.47 and its 200 day moving average price is $18.35.

Institutional Trading of Barrick Gold

Several large investors have recently made changes to their positions in the business. Perigon Wealth Management LLC lifted its stake in shares of Barrick Gold by 60.4% in the 4th quarter. Perigon Wealth Management LLC now owns 33,841 shares of the gold and copper producer's stock valued at $533,000 after purchasing an additional 12,739 shares during the period. Lebenthal Global Advisors LLC raised its position in Barrick Gold by 31.4% during the fourth quarter. Lebenthal Global Advisors LLC now owns 39,396 shares of the gold and copper producer's stock worth $611,000 after acquiring an additional 9,414 shares during the period. Union Bancaire Privee UBP SA acquired a new position in Barrick Gold during the fourth quarter worth $499,000. Capital Asset Advisory Services LLC raised its position in Barrick Gold by 1.3% during the fourth quarter. Capital Asset Advisory Services LLC now owns 123,156 shares of the gold and copper producer's stock worth $1,951,000 after acquiring an additional 1,606 shares during the period. Finally, Drive Wealth Management LLC acquired a new position in Barrick Gold during the fourth quarter worth $410,000. 62.85% of the stock is owned by hedge funds and other institutional investors.

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.