Barrick Gold (NYSE:GOLD) Given New $17.00 Price Target at Citigroup

Barrick Gold (NYSE:GOLD - Free Report) TSE: ABX had its target price decreased by Citigroup from $21.00 to $17.00 in a research report released on Monday morning,BayStreet.CA reports. Citigroup currently has a neutral rating on the gold and copper producer's stock.

Other equities research analysts also recently issued research reports about the company. Bank of America downgraded Barrick Gold from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $21.00 to $18.00 in a report on Monday, January 27th. Scotiabank increased their price objective on shares of Barrick Gold from $19.00 to $20.00 and gave the stock a "sector perform" rating in a research note on Tuesday, February 18th. Stifel Canada upgraded shares of Barrick Gold to a "strong-buy" rating in a research report on Wednesday, March 19th. TD Securities decreased their price objective on Barrick Gold from $24.00 to $23.00 and set a "buy" rating for the company in a report on Thursday, February 13th. Finally, National Bank Financial raised shares of Barrick Gold to a "hold" rating in a report on Friday, March 21st. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $23.71.

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Barrick Gold Stock Down 0.2 %

NYSE GOLD traded down $0.04 during trading on Monday, hitting $19.38. The company's stock had a trading volume of 36,910,889 shares, compared to its average volume of 23,239,086. The company has a market cap of $33.43 billion, a PE ratio of 15.75, a P/E/G ratio of 0.44 and a beta of 0.58. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.89 and a quick ratio of 2.15. The business's 50 day simple moving average is $18.07 and its 200-day simple moving average is $18.02. Barrick Gold has a fifty-two week low of $15.11 and a fifty-two week high of $21.35.

Barrick Gold (NYSE:GOLD - Get Free Report) TSE: ABX last posted its quarterly earnings data on Wednesday, February 12th. The gold and copper producer reported $0.46 EPS for the quarter, hitting the consensus estimate of $0.46. Barrick Gold had a net margin of 16.59% and a return on equity of 6.76%. On average, equities analysts anticipate that Barrick Gold will post 1.47 EPS for the current fiscal year.

Barrick Gold announced that its board has approved a stock buyback program on Wednesday, February 12th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the gold and copper producer to repurchase up to 3.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's management believes its shares are undervalued.

Barrick Gold Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.40 annualized dividend and a dividend yield of 2.06%. Barrick Gold's dividend payout ratio (DPR) is presently 32.52%.

Hedge Funds Weigh In On Barrick Gold

A number of hedge funds have recently made changes to their positions in the company. Capital International Investors increased its position in shares of Barrick Gold by 136.1% during the fourth quarter. Capital International Investors now owns 33,293,792 shares of the gold and copper producer's stock worth $516,055,000 after purchasing an additional 19,189,830 shares in the last quarter. Causeway Capital Management LLC purchased a new stake in shares of Barrick Gold during the fourth quarter worth $172,225,000. Wellington Management Group LLP grew its holdings in shares of Barrick Gold by 17.5% during the fourth quarter. Wellington Management Group LLP now owns 64,310,800 shares of the gold and copper producer's stock worth $996,802,000 after buying an additional 9,598,292 shares in the last quarter. FIL Ltd raised its position in shares of Barrick Gold by 236.7% in the fourth quarter. FIL Ltd now owns 6,815,946 shares of the gold and copper producer's stock valued at $105,692,000 after buying an additional 4,791,663 shares during the last quarter. Finally, Capital International Inc. CA acquired a new position in Barrick Gold during the fourth quarter worth about $57,991,000. Institutional investors and hedge funds 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.