Barrick Gold (NYSE:GOLD) Shares Experience 0.1% Increase - Is It Time to Invest?

Barrick Gold Corporation (NYSE:GOLD, TSE:ABX) saw a slight increase in its stock price by 0.1% during trading on Thursday. The stock reached a peak of $17.75 and ended the day at $17.57. In total, 21,836,268 shares were exchanged, showing a 1% rise in trading volume compared to the average session volume of 21,586,721 shares. The stock had closed at $17.56 on the previous day.

Analysts Update Price Targets

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A number of analysts have recently adjusted their forecasts for Barrick Gold's stock. TD Securities revised their price target from $26.00 down to $25.00, maintaining a "buy" rating in a recent research note. Meanwhile, Raymond James also lowered its target price from $26.00 to $25.00, assigning an "outperform" rating. Jefferies Financial Group increased their target from $23.00 to $24.00 while keeping a "buy" rating. CIBC World Markets changed their assessment from "strong-buy" to "hold" for Barrick Gold shares. Lastly, UBS Group reduced their recommendation from "buy" to "neutral", dropping their price target from $23.00 to $22.00.

Currently, five analysts have assigned a hold rating, while eight consider the stock a buy. According to data from MarketBeat.com, the consensus rating for Barrick Gold is noted as "Moderate Buy" with an average target price of $24.91.

Total Stock Performance

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The company has a fifty-day moving average set at $19.31 and a 200-day moving average at $18.53. Financially, Barrick Gold shows a quick ratio of 2.06, a current ratio of 2.65, and a debt-to-equity ratio of 0.14. With a market capitalization of $30.71 billion, the company 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, alongside a beta of 0.56.

Latest Dividend Announcement

The company has also recently declared a quarterly dividend payment, which is scheduled for Monday, December 16th. Shareholders recorded by Friday, November 29th, will receive a dividend of $0.10 per share. This yields an annualized total dividend of $0.40, reflecting a yield of 2.28%. The ex-dividend date is set for Friday, November 29th. As of now, Barrick Gold has a dividend payout ratio (DPR) of 43.01%.

Institutional Investment Trends

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Many hedge funds and institutional investors have recently changed their holdings in Barrick Gold. DCF Advisers LLC increased its stake by 48.3% in the second quarter, acquiring an additional 35,000 shares and totaling 107,500 shares valued at $1,793,000. Mizuho Markets Americas LLC increased its shareholding by 21.7% in the third quarter, owning 2,317,580 shares worth approximately $46,097,000 after purchasing 413,012 shares during the same period. Entropy Technologies LP also established a new position valued at about $3,711,000. Aigen Investment Management LP expanded its stake by a notable 330.5%, acquiring an additional 76,186 shares. Another firm, Evexia Wealth LLC, also entered into a new investment in Barrick Gold, worth roughly $2,382,000. Collectively, institutional investors and hedge funds hold around 62.85% of the company’s shares.

About Barrick Gold

Barrick Gold Corporation is a leading gold and copper producer. Its shares are listed on the New York Stock Exchange under the ticker symbol GOLD and on the Toronto Stock Exchange as ABX. In January 2019, Barrick merged with Randgold Resources, and later that year established a joint venture in Nevada with Newmont Corporation named Nevada Gold Mines, which is majority-owned by Barrick.

Should You Invest $1,000 in Barrick Gold Right Now?

Before making any investment in Barrick Gold, it's advisable to consider various factors. MarketBeat regularly compiles insights from top-rated Wall Street analysts, who monitor stocks they recommend to their clients. It might be worth knowing that while Barrick Gold currently has a "Moderate Buy" rating, several high-rated analysts have highlighted five other stocks as better investment opportunities.

For those interested in understanding more about the stocks that are being spoken of positively by analysts, a comprehensive report is available on those top picks.

Barrick, Gold, Stocks