Barrick Gold (NYSE:GOLD) Rating Lowered to Neutral at Bank of America

Bank of America lowered shares of Barrick Gold (NYSE:GOLD) (TSE:ABX) from a buy rating to a neutral rating in a research report sent to investors on Monday morning, Marketbeat reports. The firm currently has $18.00 price objective on the gold and copper producer’s stock, down from their previous price objective of $21.00.

A number of other equities analysts also recently issued reports on GOLD. Raymond James dropped their price target on Barrick Gold from $26.00 to $25.00 and set an “outperform” rating on the stock in a research note on Monday, November 25th. TD Securities cut their price target on Barrick Gold from $26.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. UBS Group cut shares of Barrick Gold from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $23.00 to $22.00 in a research note on Wednesday, October 30th. Cibc World Mkts cut shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, November 25th. Finally, Citigroup dropped their price target on shares of Barrick Gold from $23.00 to $17.00 and set a “neutral” rating on the stock in a research note on Friday, December 20th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Barrick Gold presently has an average rating of “Moderate Buy” and an average target price of $23.92.

Barrick Gold Stock Down 0.3 %

GOLD opened at $15.92 on Monday. The stock has a market capitalization of $27.49 billion, a price-to-earnings ratio of 17.11, a PEG ratio of 0.30 and a beta of 0.54. The firm has a 50 day moving average price of $16.36 and a 200-day moving average price of $18.28. Barrick Gold has a twelve month low of $13.76 and a twelve month high of $21.35. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.51%. The ex-dividend date was Friday, November 29th. Barrick Gold’s dividend payout ratio is currently 43.01%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC raised its position in shares of 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 valued at $28,000 after buying an additional 935 shares during the last quarter. Eastern Bank bought a new stake in Barrick Gold in the 3rd quarter valued at $32,000. JFS Wealth Advisors LLC lifted 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. AlphaMark Advisors LLC purchased a new position in shares of Barrick Gold during the third quarter valued at about $60,000. Finally, BNP Paribas increased its holdings in shares of Barrick Gold by 221.7% in the third quarter. BNP Paribas now owns 3,066 shares of the gold and copper producer’s stock worth $62,000 after purchasing an additional 2,113 shares during the last quarter. 62.85% of the stock is owned by hedge funds and other institutional investors.

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.