Barrick Gold (NYSE:GOLD) Stock Price Down 2.1% - Here's What Happened

Barrick Gold Corp (NYSE:GOLD - Get Free Report) TSE: ABX fell 2.1% during mid-day trading on Thursday . The stock traded as low as $16.97 and last traded at $17.00. 6,298,780 shares were traded during mid-day trading, a decline of 71% from the average session volume of 21,435,568 shares. The stock had previously closed at $17.37.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on GOLD shares. Berenberg Bank raised their price target on shares of Barrick Gold from $37.00 to $38.00 in a research report on Tuesday, November 26th. UBS Group downgraded Barrick Gold from a "buy" rating to a "neutral" rating and lowered their price target for the company from $23.00 to $22.00 in a report on Wednesday, October 30th. Cibc World Mkts downgraded Barrick Gold from a "strong-buy" rating to a "hold" rating in a report on Monday, November 25th. Royal Bank of Canada boosted their target price on shares of Barrick Gold from $21.00 to $22.00 and gave the company an "outperform" rating in a research report on Tuesday, September 10th. Finally, Raymond James decreased their price target 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. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $25.60.

Barrick Gold Price Performance

The stock has a 50 day simple moving average of $19.02 and a 200-day simple moving average of $18.53. The firm has a market cap of $29.54 billion, a PE ratio of 18.28, a price-to-earnings-growth ratio of 0.48 and a beta of 0.53. The company has a current ratio of 2.65, a quick ratio of 2.06 and a debt-to-equity ratio of 0.14.

Barrick Gold Dividend Announcement

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 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 yield of 2.37%. Barrick Gold's payout ratio is 43.01%.

Institutional Trading of Barrick Gold

Several hedge funds have recently bought and sold shares of GOLD. Ritholtz Wealth Management raised its stake in Barrick Gold by 2.8% during the third quarter. Ritholtz Wealth Management now owns 18,163 shares of the gold and copper producer's stock valued at $361,000 after purchasing an additional 502 shares in the last quarter. Greenleaf Trust raised its position in shares of Barrick Gold by 2.1% during the 3rd quarter. Greenleaf Trust now owns 25,659 shares of the gold and copper producer's stock valued at $510,000 after buying an additional 540 shares in the last quarter. Moors & Cabot Inc. lifted its holdings in shares of Barrick Gold by 0.9% in the 3rd quarter. Moors & Cabot Inc. now owns 64,085 shares of the gold and copper producer's stock valued at $1,275,000 after acquiring an additional 579 shares during the last quarter. Chelsea Counsel Co. grew its position in Barrick Gold by 1.4% in the third quarter. Chelsea Counsel Co. now owns 42,973 shares of the gold and copper producer's stock worth $855,000 after acquiring an additional 590 shares in the last quarter. Finally, Silverlake Wealth Management LLC increased its stake in Barrick Gold by 1.3% during the third quarter. Silverlake Wealth Management LLC now owns 49,890 shares of the gold and copper producer's stock worth $992,000 after acquiring an additional 628 shares during the last quarter. Hedge funds and other institutional investors 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.

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