Barrick Gold Corp (NYSE:GOLD - Get Free Report) TSE: ABX rose 2% during mid-day trading on Tuesday . The company traded as high as $17.72 and last traded at $17.55. Approximately 7,891,310 shares changed hands during mid-day trading, a decline of 63% from the average daily volume of 21,407,131 shares. The stock had previously closed at $17.20.
Wall Street Analysts Forecast Growth
Several research analysts have commented on the company. Royal Bank of Canada raised their price objective on Barrick Gold from $21.00 to $22.00 and gave the stock an "outperform" rating in a report on Tuesday, September 10th. Jefferies Financial Group upped their price objective on shares of Barrick Gold from $23.00 to $24.00 and gave the stock a "buy" rating in a research note on Friday, September 13th. TD Securities cut their target price on shares of Barrick Gold from $27.00 to $26.00 and set a "buy" rating on the stock in a research report on Friday, November 8th. Scotiabank lowered their price target 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. Finally, Argus raised shares of Barrick Gold from a "hold" rating to a "buy" rating and set a $24.00 price objective for the company in a research note on Thursday, August 29th. Three equities 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 stock has a consensus rating of "Moderate Buy" and a consensus price target of $23.90.
View Our Latest Analysis on GOLD
Barrick Gold Price Performance
The stock has a 50 day moving average price of $19.65 and a two-hundred day moving average price of $18.49. The firm has a market cap of $31.03 billion, a PE ratio of 18.87, a price-to-earnings-growth ratio of 0.39 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.
Barrick Gold Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.25%. The ex-dividend date is Friday, November 29th. Barrick Gold's payout ratio is 43.01%.
Hedge Funds Weigh In On Barrick Gold
Several hedge funds and other institutional investors have recently bought and sold shares of GOLD. DCF Advisers LLC boosted its holdings in shares of Barrick Gold by 48.3% in the 2nd quarter. DCF Advisers LLC now owns 107,500 shares of the gold and copper producer's stock valued at $1,793,000 after acquiring an additional 35,000 shares during the last quarter. Mizuho Markets Americas LLC boosted its holdings in Barrick Gold by 21.7% in the third quarter. Mizuho Markets Americas LLC now owns 2,317,580 shares of the gold and copper producer's stock valued at $46,097,000 after purchasing an additional 413,012 shares during the last quarter. Entropy Technologies LP acquired a new stake in Barrick Gold during the 3rd quarter worth about $3,711,000. Aigen Investment Management LP raised its stake in shares of Barrick Gold by 330.5% during the 3rd quarter. Aigen Investment Management LP now owns 99,240 shares of the gold and copper producer's stock valued at $1,974,000 after buying an additional 76,186 shares during the last quarter. Finally, Evexia Wealth LLC purchased a new position in Barrick Gold during the third quarter valued at approximately $2,382,000. Institutional investors and hedge funds own 62.85% of the company's stock.
About Barrick Gold
(
Get Free Report)
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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