Confluence Investment Management LLC Purchases 974 Shares of Barrick Gold Corp (NYSE:GOLD)

Confluence Investment Management LLC lifted its position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 3.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,751 shares of the gold and copper producer’s stock after buying an additional 974 shares during the quarter. Confluence Investment Management LLC’s holdings in Barrick Gold were worth $461,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in GOLD. Exchange Traded Concepts LLC grew its holdings in Barrick Gold by 198.1% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,407 shares of the gold and copper producer’s stock worth $28,000 after acquiring an additional 935 shares in the last quarter. Eastern Bank bought a new position in shares of Barrick Gold during the third quarter valued at approximately $32,000. JFS Wealth Advisors LLC increased its holdings in Barrick Gold by 451.7% during the third quarter. JFS Wealth Advisors LLC now owns 1,909 shares of the gold and copper producer’s stock valued at $38,000 after buying an additional 1,563 shares during the period. AlphaMark Advisors LLC bought a new position in Barrick Gold in the third quarter worth approximately $60,000. Finally, BNP Paribas lifted its holdings in Barrick Gold by 221.7% during the third quarter. BNP Paribas now owns 3,066 shares of the gold and copper producer’s stock worth $62,000 after buying an additional 2,113 shares during the period. Hedge funds and other institutional investors own 62.85% of the company’s stock.

Barrick Gold Price Performance

NYSE GOLD opened at $15.97 on Friday. The stock’s fifty day moving average price is $17.29 and its 200 day moving average price is $18.42. Barrick Gold Corp has a 1 year low of $13.76 and a 1 year high of $21.35. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.65 and a quick ratio of 2.06. The company has a market cap of $27.80 billion, a price-to-earnings ratio of 17.17, a PEG ratio of 0.47 and a beta of 0.53.

Barrick Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.50%. The ex-dividend date was Friday, November 29th. Barrick Gold’s payout ratio is 43.01%.

Wall Street Analyst Weigh In

Several research firms have recently commented on GOLD. Cibc World Mkts lowered Barrick Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 25th. Raymond James decreased their price target on shares of Barrick Gold from $26.00 to $25.00 and set an “outperform” rating for the company in a research report on Monday, November 25th. CIBC downgraded shares of Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research report on Monday, November 25th. Jefferies Financial Group increased their target price 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. Finally, Scotiabank cut their price target on shares of Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating on the stock in a report on Monday, November 25th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $24.82.

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.