Barrick Gold (NYSE:GOLD) Given New $38.00 Price Target at Berenberg Bank

Barrick Gold (NYSE:GOLD) (TSE:ABX) had its price target upped by Berenberg Bank from $37.00 to $38.00 in a research report report published on Tuesday,BayStreet.CA reports.

GOLD has been the subject of a number of other reports. Jefferies Financial Group increased their price objective on shares of Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a report on Friday, September 13th. TD Securities decreased their price target on shares of Barrick Gold from $26.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday. Argus raised Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a report on Thursday, August 29th. Cibc World Mkts cut Barrick Gold from a “strong-buy” rating to a “hold” rating in a report on Monday. Finally, Raymond James decreased their price objective on Barrick Gold from $26.00 to $25.00 and set an “outperform” rating on the stock in a report on Monday. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $24.91.

Barrick Gold Price Performance

NYSE:GOLD opened at $17.56 on Tuesday. 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. The company has a quick ratio of 2.06, a current ratio of 2.65 and a debt-to-equity ratio of 0.14. The business’s 50-day simple moving average is $19.36 and its two-hundred day simple moving average is $18.54. Barrick Gold has a 52 week low of $13.76 and a 52 week high of $21.35.

Barrick Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a $0.10 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.40 annualized dividend and a dividend yield of 2.28%. Barrick Gold’s payout ratio is 43.01%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in GOLD. Clean Yield Group purchased a new position in Barrick Gold during the 1st quarter worth $25,000. Exchange Traded Concepts LLC grew its position in shares of Barrick Gold by 198.1% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,407 shares of the gold and copper producer’s stock worth $28,000 after buying an additional 935 shares in the last quarter. Crewe Advisors LLC increased its stake in shares of Barrick Gold by 628.8% during the second quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer’s stock valued at $30,000 after buying an additional 1,572 shares during the period. Jackson Grant Investment Advisers Inc. bought a new stake in shares of Barrick Gold in the second quarter valued at about $32,000. Finally, Eastern Bank purchased a new stake in Barrick Gold in the third quarter worth about $32,000. 62.85% of the stock is currently owned by institutional investors.

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.