Barrick Gold (NYSE:GOLD) Stock Rating Lowered by Cibc World Mkts

Cibc World Mkts lowered shares of Barrick Gold (NYSE:GOLD) (TSE:ABX) from a strong-buy rating to a hold rating in a research report released on Monday morning,Zacks.com reports.

Other equities analysts have also issued reports about the company. Scotiabank decreased their price objective on Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating for the company in a report on Monday. CIBC lowered Barrick Gold from a “sector outperform” rating to a “neutral” rating in a report on Monday. Argus upgraded shares of 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. TD Securities decreased their target price on shares of Barrick Gold from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Finally, UBS Group downgraded shares of Barrick Gold from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $23.00 to $22.00 in a research report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Barrick Gold has an average rating of “Moderate Buy” and an average price target of $23.70.

Barrick Gold Trading Down 2.9 %

Barrick Gold stock opened at $17.69 on Monday. The firm has a 50-day moving average price of $19.42 and a two-hundred day moving average price of $18.53. Barrick Gold has a 52-week low of $13.76 and a 52-week high of $21.35. The firm has a market capitalization of $30.92 billion, a price-to-earnings ratio of 19.02, a PEG 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.

Barrick Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.26%. The ex-dividend date is Friday, November 29th. Barrick Gold’s dividend payout ratio is presently 43.01%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC boosted its stake 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 acquiring an additional 935 shares in the last quarter. Clean Yield Group purchased a new stake in shares of Barrick Gold during the first quarter valued at $25,000. Eastern Bank acquired a new position in shares of Barrick Gold in the 3rd quarter valued at $32,000. Crewe Advisors LLC boosted its position in shares of Barrick Gold by 628.8% in the 2nd quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer’s stock valued at $30,000 after purchasing an additional 1,572 shares during the period. Finally, JFS Wealth Advisors LLC increased its stake in Barrick Gold by 451.7% in the 3rd quarter. JFS Wealth Advisors LLC now owns 1,909 shares of the gold and copper producer’s stock worth $38,000 after purchasing an additional 1,563 shares in the last quarter. 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.