Barrick Gold (NYSE:GOLD) Stock Price Expected to Rise, Berenberg Bank Analyst Says

Barrick Gold (NYSE:GOLD - Free Report) TSE: ABX had its price objective boosted by Berenberg Bank from $37.00 to $38.00 in a research note issued to investors on Tuesday morning,BayStreet.CA reports.

Other research analysts have also issued research reports about the stock. TD Securities cut their price target on shares of Barrick Gold from $26.00 to $25.00 and set a "buy" rating on the stock in a report on Tuesday. Cibc World Mkts lowered shares of Barrick Gold from a "strong-buy" rating to a "hold" rating in a report on Monday. CIBC lowered shares of Barrick Gold from a "sector outperform" rating to a "neutral" rating in a report on Monday. UBS Group lowered shares of Barrick Gold from a "buy" rating to a "neutral" rating and cut their price target for the company from $23.00 to $22.00 in a report on Wednesday, October 30th. Finally, Argus upgraded shares of Barrick Gold from a "hold" rating to a "buy" rating and set a $24.00 price objective on the stock in a research note on Thursday, August 29th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $24.91.

Barrick Gold Trading Down 0.7 %

Shares of GOLD traded down $0.12 during mid-day trading on Tuesday, hitting $17.56. The company had a trading volume of 27,753,385 shares, compared to its average volume of 21,585,523. The business's 50-day simple moving average is $19.36 and its 200-day simple moving average is $18.54. 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 has a 1-year low of $13.76 and a 1-year high of $21.35. The stock has a market cap of $30.70 billion, a PE ratio of 18.88, a P/E/G ratio of 0.43 and a beta of 0.56.

Barrick Gold Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a $0.10 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.28%. Barrick Gold's dividend payout ratio (DPR) is presently 43.01%.

Institutional Trading of Barrick Gold

A number of hedge funds and other institutional investors have recently made changes to their positions in GOLD. Price T Rowe Associates Inc. MD increased its stake in shares of Barrick Gold by 19.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,839,056 shares of the gold and copper producer's stock worth $63,883,000 after buying an additional 628,477 shares during the last quarter. Silvercrest Asset Management Group LLC boosted its holdings in Barrick Gold by 27.2% in the first quarter. Silvercrest Asset Management Group LLC now owns 56,105 shares of the gold and copper producer's stock worth $934,000 after purchasing an additional 12,000 shares during the period. B. Riley Wealth Advisors Inc. boosted its holdings in Barrick Gold by 10.7% in the first quarter. B. Riley Wealth Advisors Inc. now owns 12,895 shares of the gold and copper producer's stock worth $215,000 after purchasing an additional 1,244 shares during the period. Tidal Investments LLC boosted its holdings in Barrick Gold by 20.4% in the first quarter. Tidal Investments LLC now owns 39,196 shares of the gold and copper producer's stock worth $637,000 after purchasing an additional 6,639 shares during the period. Finally, EdgePoint Investment Group Inc. boosted its holdings in Barrick Gold by 38.8% in the first quarter. EdgePoint Investment Group Inc. now owns 18,170,814 shares of the gold and copper producer's stock worth $302,366,000 after purchasing an additional 5,080,510 shares during the period. Institutional investors own 62.85% of the company's stock.

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.