Barrick Gold (TSE:ABX) Reaches New 52-Week High at $24.64

Barrick Gold Corp (TSE:ABX) (NYSE:ABX)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as C$24.64 and last traded at C$24.63, with a volume of 2717728 shares changing hands. The stock had previously closed at C$24.12.

Several brokerages have commented on ABX. Eight Capital raised their price objective on Barrick Gold from C$20.00 to C$28.00 in a research report on Thursday, August 8th. Canaccord Genuity raised their price objective on Barrick Gold from C$19.50 to C$21.00 in a research report on Friday, July 19th. Finally, BMO Capital Markets reissued an “outperform” rating and set a C$20.00 price objective on shares of Barrick Gold in a research report on Thursday, July 4th.

The company has a debt-to-equity ratio of 31.45, a current ratio of 2.72 and a quick ratio of 1.45. The firm has a market cap of $42.73 billion and a PE ratio of -27.83. The firm has a 50-day simple moving average of C$22.52 and a 200 day simple moving average of C$18.88.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be given a dividend of $0.053 per share. This represents a $0.21 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend is Thursday, August 29th. Barrick Gold’s dividend payout ratio is currently -23.49%.

A number of institutional investors have recently made changes to their positions in the business. Majedie Asset Management Ltd increased its holdings in shares of Barrick Gold by 0.7% during the first quarter. Majedie Asset Management Ltd now owns 19,959,841 shares of the basic materials company’s stock valued at $273,874,000 after acquiring an additional 144,130 shares in the last quarter. Legacy Bridge LLC bought a new position in shares of Barrick Gold during the first quarter valued at $28,000. Midas Management Corp bought a new position in shares of Barrick Gold during the first quarter valued at $1,344,000. Gulf International Bank UK Ltd bought a new position in shares of Barrick Gold during the first quarter valued at $453,000. Finally, Lindbrook Capital LLC increased its holdings in shares of Barrick Gold by 270.2% during the first quarter. Lindbrook Capital LLC now owns 4,687 shares of the basic materials company’s stock valued at $64,000 after acquiring an additional 3,421 shares in the last quarter.

About Barrick Gold (TSE:ABX)

Barrick Gold Corporation explores for and develops mineral properties. The company primarily explores for gold, copper, and silver deposits. It holds a 50% interest in the Veladero, a gold mine located in Argentina; 50% interest in the Kalgoorlie gold mine located in Australia; 95% interest in the Porgera gold mine located in Papua New Guinea; 50% interest in the Zaldívar, a copper mine located in Chile; and 50% interest in the Jabal Sayid copper mine located in Saudi Arabia.

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