TD Securities Issues Pessimistic Forecast for Barrick Gold (NYSE:GOLD) Stock Price

Barrick Gold (NYSE:GOLD) (TSE:ABX) had its price objective lowered by TD Securities from $26.00 to $25.00 in a report released on Tuesday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the gold and copper producer’s stock. TD Securities’ target price points to a potential upside of 42.21% from the company’s current price.

GOLD has been the topic of several other reports. CIBC lowered Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research report on Monday. Scotiabank cut their price objective on Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating on the stock in a research note on Monday. Royal Bank of Canada raised their price objective on Barrick Gold from $21.00 to $22.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. Cibc World Mkts downgraded Barrick Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday. Finally, Argus raised Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research note on Thursday, August 29th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Barrick Gold presently has an average rating of “Moderate Buy” and an average price target of $24.91.

Barrick Gold Stock Performance

Shares of GOLD stock opened at $17.58 on Tuesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.65 and a quick ratio of 2.06. Barrick Gold has a fifty-two week low of $13.76 and a fifty-two week high of $21.35. The stock’s 50-day moving average is $19.31 and its two-hundred day moving average is $18.53. The firm has a market cap of $30.73 billion, a P/E ratio of 18.90, a PEG ratio of 0.42 and a beta of 0.56.

Institutional Trading of Barrick Gold

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GOLD. Clean Yield Group acquired a new stake in Barrick Gold in the 1st quarter valued at approximately $25,000. Exchange Traded Concepts LLC grew its holdings in Barrick Gold by 198.1% in the 3rd 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 grew its holdings in shares of Barrick Gold by 628.8% during the 2nd quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer’s stock worth $30,000 after purchasing an additional 1,572 shares in the last quarter. Jackson Grant Investment Advisers Inc. acquired a new stake in shares of Barrick Gold during the 2nd quarter worth approximately $32,000. Finally, Eastern Bank acquired a new stake in shares of Barrick Gold during the 3rd quarter worth approximately $32,000. Institutional investors and hedge funds 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.