Barrick Gold (NYSE:GOLD) Stock Price Down 0.2% – Should You Sell?

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX)’s stock price fell 0.2% during trading on Wednesday . The company traded as low as $17.38 and last traded at $17.58. 4,476,255 shares changed hands during trading, a decline of 79% from the average session volume of 21,443,736 shares. The stock had previously closed at $17.61.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on GOLD. Royal Bank of Canada raised their target price on Barrick Gold from $21.00 to $22.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. Cibc World Mkts cut Barrick Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 25th. Raymond James lowered their price objective on Barrick Gold from $26.00 to $25.00 and set an “outperform” rating on the stock in a report on Monday, November 25th. TD Securities lowered their price objective on Barrick Gold from $26.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. Finally, Scotiabank lowered their price objective on Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating on the stock in a report on Monday, November 25th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Barrick Gold currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.60.

Barrick Gold Stock Performance

The stock’s 50 day moving average price is $18.94 and its 200 day moving average price is $18.52. The firm has a market cap of $29.28 billion, a PE ratio of 18.14, a P/E/G ratio of 0.48 and a beta of 0.53. The company has a current ratio of 2.65, a quick ratio of 2.06 and a debt-to-equity ratio of 0.14.

Barrick Gold Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend is Friday, November 29th. Barrick Gold’s payout ratio is 43.01%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in GOLD. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Barrick Gold by 221.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,027,811 shares of the gold and copper producer’s stock worth $199,427,000 after acquiring an additional 6,904,934 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Barrick Gold by 4,713.3% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,144,456 shares of the gold and copper producer’s stock worth $69,141,000 after acquiring an additional 4,058,351 shares in the last quarter. Letko Brosseau & Associates Inc. acquired a new position in Barrick Gold during the 2nd quarter worth $66,820,000. The Manufacturers Life Insurance Company grew its holdings in Barrick Gold by 33.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 11,431,497 shares of the gold and copper producer’s stock worth $227,524,000 after acquiring an additional 2,854,055 shares in the last quarter. Finally, Mizuho Markets Americas LLC acquired a new position in Barrick Gold during the 2nd quarter worth $31,768,000. 62.85% of the stock is owned by institutional investors and hedge funds.

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.