Barrick Gold Corp (NYSE:GOLD) Holdings Cut by Diversify Advisory Services LLC

Diversify Advisory Services LLC reduced its stake in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 6.7% during the 4th quarter, HoldingsChannel reports. The fund owned 12,481 shares of the gold and copper producer’s stock after selling 895 shares during the period. Diversify Advisory Services LLC’s holdings in Barrick Gold were worth $196,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of GOLD. Wellington Management Group LLP increased its position in Barrick Gold by 2.7% in the 3rd quarter. Wellington Management Group LLP now owns 54,712,508 shares of the gold and copper producer’s stock worth $1,088,484,000 after purchasing an additional 1,458,084 shares during the last quarter. EdgePoint Investment Group Inc. increased its holdings in Barrick Gold by 3.7% in the second quarter. EdgePoint Investment Group Inc. now owns 18,837,028 shares of the gold and copper producer’s stock worth $314,254,000 after buying an additional 666,214 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Barrick Gold by 33.3% during the third quarter. The Manufacturers Life Insurance Company now owns 11,431,497 shares of the gold and copper producer’s stock valued at $227,524,000 after acquiring an additional 2,854,055 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Barrick Gold by 221.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,027,811 shares of the gold and copper producer’s stock valued at $199,427,000 after acquiring an additional 6,904,934 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Barrick Gold by 9.5% in the third quarter. Geode Capital Management LLC now owns 8,047,255 shares of the gold and copper producer’s stock worth $162,140,000 after acquiring an additional 696,556 shares in the last quarter. 62.85% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on GOLD. Scotiabank downgraded shares of Barrick Gold from a “sector outperform” rating to a “sector perform” rating and cut their price target for the company from $23.00 to $19.00 in a report on Tuesday. Raymond James decreased their price target on Barrick Gold from $26.00 to $25.00 and set an “outperform” rating for the company in a research note on Monday, November 25th. Citigroup lowered their price target on Barrick Gold from $23.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday, December 20th. CIBC cut shares of Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research note on Monday, November 25th. Finally, UBS Group lowered shares of Barrick Gold from a “buy” rating to a “neutral” rating and lowered their target price for the company from $23.00 to $22.00 in a research note on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Barrick Gold presently has an average rating of “Moderate Buy” and a consensus price target of $24.45.

Barrick Gold Stock Down 0.0 %

GOLD stock opened at $15.77 on Friday. Barrick Gold Corp has a twelve month low of $13.76 and a twelve month high of $21.35. The company has a quick ratio of 2.06, a current ratio of 2.65 and a debt-to-equity ratio of 0.14. The company has a market cap of $27.23 billion, a PE ratio of 16.95, a price-to-earnings-growth ratio of 0.31 and a beta of 0.54. The business’s 50-day simple moving average is $16.45 and its 200 day simple moving average is $18.33.

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 issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend was Friday, November 29th. Barrick Gold’s payout ratio is presently 43.01%.

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.