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

Barrick Gold Corporation (NYSE:GOLD) saw its stock price rise by 0.1% during trading on Thursday. The shares reached a high of $17.75 and settled at $17.57. In total, 21,836,268 shares were traded, which is a 1% increase compared to the average trading volume of 21,586,721 shares. The stock closed at $17.56 in the previous session.

Analysts Set New Price Targets

Several analysts have offered their insights on Barrick Gold's stock. TD Securities lowered their price target for Barrick Gold shares from $26.00 to $25.00 while maintaining a "buy" rating. Similarly, Raymond James adjusted their price target from $26.00 to $25.00 and also rated the stock as "outperform." Meanwhile, Jefferies Financial Group raised their price target from $23.00 to $24.00 and affirmed a "buy" rating. However, CIBC World Markets changed their rating from "strong-buy" to "hold." Additionally, UBS Group reduced their rating from "buy" to "neutral" and set a new price target of $22.00, down from $23.00. Currently, five analysts have a hold rating on the stock, while eight have rated it as a buy. According to MarketBeat.com, the consensus rating is "Moderate Buy" with a target price averaging $24.91.

Barrick Gold Stock Analysis

The company's stock has a fifty-day moving average of $19.31 and a 200-day moving average of $18.53. It shows strong short-term liquidity with a quick ratio of 2.06 and a current ratio of 2.65. The debt-to-equity ratio is quite low at 0.14, indicating a solid financial structure. Barrick Gold holds a market capitalization of $30.71 billion, a price-to-earnings (P/E) ratio of 18.89, and a price-to-earnings growth (P/E/G) ratio of 0.42, with a beta of 0.56.

Barrick Gold Announces Dividend

The company has announced a quarterly dividend to be paid on December 16. Shareholders on record by November 29 will receive $0.10 per share, resulting in an annualized dividend of $0.40 and a yield of 2.28%. The ex-dividend date falls on November 29, and Barrick Gold's current dividend payout ratio is approximately 43.01%.

Institutional Trading Updates

Recent trading activity among institutional investors shows some significant changes. DCF Advisers LLC increased their stake in Barrick Gold by 48.3% during the second quarter and now owns 107,500 shares worth $1,793,000 after adding 35,000 shares. Mizuho Markets Americas LLC raised its holdings by 21.7% in the third quarter, and now owns 2,317,580 shares valued at $46,097,000 after acquiring an additional 413,012 shares. Entropy Technologies LP has also initiated a new position worth about $3,711,000 in Barrick Gold. Furthermore, Aigen Investment Management LP has significantly increased its stake by 330.5%, owning now 99,240 shares valued at approximately $1,974,000. Institutional ownership stands at 62.85% of Barrick Gold's total shares.

About Barrick Gold Corporation

Barrick Gold Corporation is a leading producer of gold and copper. Its shares are traded on the New York Stock Exchange under the symbol GOLD and on the Toronto Stock Exchange under ABX. In January 2019, Barrick merged with Randgold Resources and subsequently combined its Nevada gold mines with those of Newmont Corporation, forming a joint venture named Nevada Gold Mines, which Barrick operates as a majority owner.

Investment Considerations

Before making any investment decisions related to Barrick Gold, it is crucial to review the latest recommendations from top analysts. Currently, Barrick Gold holds a "Moderate Buy" rating. However, it's worth noting that other top-rated analysts believe that alternative investments could outperform Barrick Gold at this time. Therefore, potential investors should conduct in-depth research and consider multiple factors before proceeding.

Barrick, Gold, Investment