Raymond James Cuts Barrick Gold (NYSE:GOLD) Price Target to $25.00

Barrick Gold (NYSE:GOLD) (TSE:ABX) had its price objective trimmed by Raymond James from $26.00 to $25.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an outperform rating on the gold and copper producer’s stock.

A number of other equities research analysts also recently commented on GOLD. Argus upgraded Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a report on Thursday, August 29th. UBS Group downgraded Barrick Gold from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $23.00 to $22.00 in a report on Wednesday, October 30th. Scotiabank lowered their price target on Barrick Gold from $25.00 to $24.00 and set a “sector outperform” rating for the company in a report on Friday, November 8th. Royal Bank of Canada increased their price target on Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Finally, CIBC downgraded Barrick Gold from a “sector outperform” rating to a “neutral” rating in a report on Monday. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $24.91.

Barrick Gold Trading Up 0.1 %

Shares of GOLD opened at $17.58 on Monday. 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 12-month low of $13.76 and a 12-month high of $21.35. The firm has a market capitalization of $30.73 billion, a PE ratio of 18.90, a price-to-earnings-growth ratio of 0.42 and a beta of 0.56. The stock’s fifty day simple moving average is $19.31 and its 200-day simple moving average is $18.53.

Barrick Gold Announces Dividend

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

Institutional Trading of Barrick Gold

Hedge funds have recently made changes to their positions in the business. Clean Yield Group acquired a new stake in shares of Barrick Gold in the first quarter valued at approximately $25,000. Exchange Traded Concepts LLC lifted its position in shares of Barrick Gold by 198.1% in the third quarter. Exchange Traded Concepts LLC now owns 1,407 shares of the gold and copper producer’s stock valued at $28,000 after buying an additional 935 shares during the last quarter. Crewe Advisors LLC lifted its position in shares of Barrick Gold by 628.8% in 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 last quarter. Jackson Grant Investment Advisers Inc. bought a new position in shares of Barrick Gold during the second quarter worth approximately $32,000. Finally, Eastern Bank bought a new position in shares of Barrick Gold during the third quarter worth approximately $32,000. 62.85% of the stock is owned by institutional investors and hedge funds.

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.