Barrick Gold (NYSE:GOLD) Price Target Raised to $38.00 at Berenberg Bank

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

GOLD has been the subject of a number of other research reports. Raymond James decreased their price objective on shares of Barrick Gold from $26.00 to $25.00 and set an “outperform” rating for the company in a report on Monday, November 25th. Royal Bank of Canada lifted their target price on Barrick Gold from $21.00 to $22.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. TD Securities cut their price target on Barrick Gold from $26.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday. Scotiabank lowered their price objective on Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating for the company in a research note on Monday, November 25th. Finally, CIBC downgraded shares of Barrick Gold from a “sector outperform” rating to a “neutral” rating in a report on Monday, November 25th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $25.60.

Barrick Gold Trading Up 0.1 %

NYSE:GOLD opened at $17.49 on Tuesday. The company has a market cap of $30.57 billion, a PE ratio of 18.81, a P/E/G ratio of 0.48 and a beta of 0.56. The business’s 50 day moving average is $19.20 and its two-hundred day moving average is $18.53. 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 52 week low of $13.76 and a 52 week high of $21.35.

Barrick Gold Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a $0.10 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a yield of 2.29%. Barrick Gold’s dividend payout ratio is presently 43.01%.

Institutional Investors Weigh In On Barrick Gold

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Clean Yield Group bought a new stake in Barrick Gold in the first quarter worth about $25,000. Exchange Traded Concepts LLC boosted its holdings in Barrick Gold by 198.1% during the third 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 grew its position in 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 worth $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 in the second quarter valued at $32,000. Finally, Eastern Bank bought a new stake in shares of Barrick Gold during the 3rd quarter worth $32,000. Institutional investors 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.