DAVENPORT & Co LLC Buys 28,507 Shares of Barrick Gold Corp (NYSE:GOLD)

DAVENPORT & Co LLC grew its stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 51.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 84,037 shares of the gold and copper producer’s stock after acquiring an additional 28,507 shares during the period. DAVENPORT & Co LLC’s holdings in Barrick Gold were worth $1,303,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of GOLD. Keudell Morrison Wealth Management bought a new position in Barrick Gold in the 4th quarter worth approximately $156,000. Highland Capital Management LLC raised its position in shares of Barrick Gold by 82.0% during the fourth quarter. Highland Capital Management LLC now owns 75,584 shares of the gold and copper producer’s stock worth $1,172,000 after acquiring an additional 34,055 shares during the last quarter. Baader Bank Aktiengesellschaft acquired a new position in shares of Barrick Gold during the fourth quarter valued at $344,000. Forsta AP Fonden lifted its stake in shares of Barrick Gold by 3.5% during the fourth quarter. Forsta AP Fonden now owns 363,144 shares of the gold and copper producer’s stock valued at $5,628,000 after acquiring an additional 12,200 shares during the period. Finally, Smith Group Asset Management LLC bought a new position in Barrick Gold in the fourth quarter valued at about $1,240,000. 62.85% of the stock is currently owned by institutional investors and hedge funds.

Barrick Gold Trading Up 2.7 %

NYSE GOLD opened at $17.13 on Thursday. Barrick Gold Corp has a one year low of $13.76 and a one 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 firm has a market cap of $29.59 billion, a P/E ratio of 18.42, a P/E/G ratio of 0.36 and a beta of 0.55. The stock’s 50-day moving average is $16.21 and its 200-day moving average is $18.20.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on GOLD. CIBC downgraded shares of Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research report on Monday, November 25th. Bank of America lowered shares of Barrick Gold from a “buy” rating to a “neutral” rating and cut their price objective for the company from $21.00 to $18.00 in a report on Monday, January 27th. Scotiabank lowered shares of Barrick Gold from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $23.00 to $19.00 in a report on Thursday, January 30th. Citigroup cut their price target on Barrick Gold from $23.00 to $17.00 and set a “neutral” rating on the stock in a research note on Friday, December 20th. Finally, UBS Group cut Barrick Gold from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $23.00 to $22.00 in a research note on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Barrick Gold currently has an average rating of “Moderate Buy” and an average price target of $23.92.

Barrick Gold 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.