Barrick Gold Target of Unusually High Options Trading (NYSE:GOLD)

Barrick Gold Corp (NYSE:GOLD - Get Free Report) TSE: ABX was the target of some unusual options trading on Tuesday. Stock investors acquired 64,396 call options on the company. This represents an increase of 28% compared to the average daily volume of 50,330 call options.

Analysts Set New Price Targets

A number of research analysts recently issued reports on GOLD shares. Jefferies Financial Group boosted their price objective on Barrick Gold from $23.00 to $24.00 and gave the company a "buy" rating in a research report on Friday, September 13th. Raymond James cut their price objective on Barrick Gold from $26.50 to $26.00 and set an "outperform" rating for the company in a report on Thursday, September 26th. Argus raised Barrick Gold from a "hold" rating to a "buy" rating and set a $24.00 price target on the stock in a report on Thursday, August 29th. UBS Group lowered shares of Barrick Gold from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $23.00 to $22.00 in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada upped their price target on Barrick Gold from $21.00 to $22.00 and gave the company an "outperform" rating in a research report on Tuesday, September 10th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $23.90.

Barrick Gold Stock Performance

Shares of Barrick Gold stock traded up $0.53 during trading on Tuesday, reaching $17.73. The company's stock had a trading volume of 29,216,531 shares, compared to its average volume of 21,501,684. The business's fifty day moving average price is $19.61 and its 200-day moving average price is $18.50. The firm has a market cap of $30.99 billion, a price-to-earnings ratio of 19.06, a price-to-earnings-growth ratio of 0.39 and a beta of 0.56. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.06 and a current ratio of 2.65. Barrick Gold has a one year low of $13.76 and a one year high of $21.35.

Barrick Gold Dividend Announcement

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 issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend is Friday, November 29th. Barrick Gold's payout ratio is presently 43.01%.

Institutional Investors Weigh In On Barrick Gold

Institutional investors and hedge funds have recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Barrick Gold by 221.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,027,811 shares of the gold and copper producer's stock worth $199,427,000 after buying an additional 6,904,934 shares in the last quarter. EdgePoint Investment Group Inc. lifted its position in Barrick Gold by 38.8% during the 1st quarter. EdgePoint Investment Group Inc. now owns 18,170,814 shares of the gold and copper producer's stock valued at $302,366,000 after purchasing an additional 5,080,510 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Barrick Gold by 4,713.3% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,144,456 shares of the gold and copper producer's stock valued at $69,141,000 after acquiring an additional 4,058,351 shares during the last quarter. Letko Brosseau & Associates Inc. acquired a new stake in shares of Barrick Gold during the second quarter worth $66,820,000. Finally, The Manufacturers Life Insurance Company grew its position in shares of Barrick Gold by 33.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 11,431,497 shares of the gold and copper producer's stock worth $227,524,000 after buying an additional 2,854,055 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.