Barrick Gold (NYSE:GOLD) Shares Up 0.1% - Should You Buy?

Barrick Gold Corp (NYSE:GOLD - Get Free Report) recently saw its stock price increase by 0.1% during trading on Thursday. The stock reached a high of $17.75 before settling at $17.57 by the end of the trading day. A total of 21,836,268 shares exchanged hands, reflecting a 1% rise from the average trading volume of 21,586,721 shares. Previously, the stock had closed at $17.56.

Analysts Set New Price Targets

• Important Insights in Gold Investment Following Recent Elections

A number of analysts have recently analyzed the shares of Barrick Gold. TD Securities reduced their price target for Barrick Gold from $26.00 to $25.00 while maintaining a "buy" rating in a report released on Tuesday. Likewise, Raymond James lowered their target from $26.00 to $25.00 and maintained an "outperform" rating in a report on Monday. In contrast, Jefferies Financial Group increased their price objective from $23.00 to $24.00, giving the stock a "buy" rating in a report dated September 13. CIBC World Markets downgraded Barrick Gold from a "strong-buy" rating to a "hold" rating in a research note on Monday. UBS Group also reduced their rating from "buy" to "neutral," with a lowered price target of $22.00 from $23.00 as indicated in their report on October 30. A total of five analysts currently recommend holding the stock, whereas eight analysts recommend buying it. According to MarketBeat.com, Barrick Gold has a consensus rating of "Moderate Buy" and a consensus price target of $24.91.

Check Our Latest Report on Barrick Gold

Barrick Gold Stock Overview

• Three GARP Stocks: Aptiv, Allstate, Barrick Gold

As of now, Barrick Gold's stock shows a fifty-day moving average of $19.31 and a 200-day moving average of $18.53. The company reports a quick ratio of 2.06 and a current ratio of 2.65, along with a low debt-to-equity ratio of 0.14. Barrick Gold's market capitalization sits at $30.71 billion, and it has a price-to-earnings (P/E) ratio of 18.89 and a price-to-earnings-to-growth (P/E/G) ratio of 0.42. The stock maintains a beta of 0.56, signifying a lower volatility compared to the broader market.

Dividend Announcement from Barrick Gold

Recently, Barrick Gold declared a quarterly dividend, scheduled to be paid on December 16. Shareholders on record as of November 29 will receive a dividend of $0.10 per share. This payout translates to an annualized dividend of $0.40, which equates to a yield of 2.28%. The ex-dividend date is also November 29, with the current dividend payout ratio (DPR) recorded at 43.01%.

Institutional Trading Activity

• Potential Surge in Gold Prices: Key Drivers for Investors

Recently, several hedge funds and institutional investors have adjusted their holdings in Barrick Gold. DCF Advisers LLC enhanced its stake by 48.3% in the second quarter. They now possess 107,500 shares valued at $1,793,000 after acquiring an additional 35,000 shares. Mizuho Markets Americas LLC also increased its investments in Barrick Gold by 21.7% during the third quarter, now owning 2,317,580 shares worth $46,097,000 after purchasing an extra 413,012 shares. Entropy Technologies LP took a new position in Barrick Gold valued at approximately $3,711,000 in the same quarter. Aigen Investment Management LP saw a significant boost in holdings, increasing by 330.5% during the third quarter. Finally, Evexia Wealth LLC added a new stake in Barrick Gold worth around $2,382,000. Collectively, institutional investors own 62.85% of the company's total shares.

About Barrick Gold

Barrick Gold Corporation is a prominent producer of gold and copper. Its shares are traded on the New York Stock Exchange under the ticker GOLD and on the Toronto Stock Exchange as ABX. In January 2019, Barrick merged with Randgold Resources and later partnered with Newmont Corporation in July of the same year to form a joint venture known as Nevada Gold Mines, which Barrick operates and controls.

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This report has been generated for informative purposes using advanced data analytics techniques, ensuring the accuracy of presented information.

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Barrick, Gold, Stocks