Sumitomo Mitsui Trust Group Inc. Purchases 6,499 Shares of Barrick Gold Corp (NYSE:GOLD)

Sumitomo Mitsui Trust Group Inc. raised its position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 4.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 149,305 shares of the gold and copper producer’s stock after acquiring an additional 6,499 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Barrick Gold were worth $2,970,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Ritholtz Wealth Management boosted its stake in shares of Barrick Gold by 2.8% in the third quarter. Ritholtz Wealth Management now owns 18,163 shares of the gold and copper producer’s stock valued at $361,000 after buying an additional 502 shares during the period. Greenleaf Trust boosted its stake in shares of Barrick Gold by 2.1% in the third quarter. Greenleaf Trust now owns 25,659 shares of the gold and copper producer’s stock valued at $510,000 after buying an additional 540 shares during the period. Silverlake Wealth Management LLC boosted its stake in shares of Barrick Gold by 1.3% in the third quarter. Silverlake Wealth Management LLC now owns 49,890 shares of the gold and copper producer’s stock valued at $992,000 after buying an additional 628 shares during the period. Whitener Capital Management Inc. boosted its stake in shares of Barrick Gold by 0.9% in the third quarter. Whitener Capital Management Inc. now owns 73,185 shares of the gold and copper producer’s stock valued at $1,456,000 after buying an additional 675 shares during the period. Finally, apricus wealth LLC boosted its stake in shares of Barrick Gold by 0.6% in the third quarter. apricus wealth LLC now owns 112,850 shares of the gold and copper producer’s stock valued at $2,245,000 after buying an additional 710 shares during the period. Institutional investors own 62.85% of the company’s stock.

Barrick Gold Stock Performance

Shares of Barrick Gold stock opened at $17.21 on Tuesday. 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 Corp has a twelve month low of $13.76 and a twelve month high of $21.35. The stock has a market cap of $30.08 billion, a price-to-earnings ratio of 18.51, a P/E/G ratio of 0.39 and a beta of 0.56. The company’s fifty day moving average is $19.65 and its 200 day moving average is $18.49.

Barrick Gold Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a dividend of $0.10 per share. The ex-dividend date is Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a yield of 2.32%. Barrick Gold’s dividend payout ratio (DPR) is currently 43.01%.

Wall Street Analyst Weigh In

Several brokerages have commented on GOLD. Raymond James lowered their price objective on shares of Barrick Gold from $26.50 to $26.00 and set an “outperform” rating for the company in a research report on Thursday, September 26th. Jefferies Financial Group boosted their price objective on shares of Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Royal Bank of Canada boosted their price objective on shares of Barrick Gold from $21.00 to $22.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. UBS Group downgraded shares of Barrick Gold from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $23.00 to $22.00 in a research report on Wednesday, October 30th. Finally, TD Securities lowered their price target on shares of Barrick Gold from $27.00 to $26.00 and set a “buy” rating for the company in a report on Friday, November 8th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $23.90.

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.