Spire Wealth Management Sells 1,602 Shares of Barrick Gold Corp (NYSE:GOLD)

Spire Wealth Management lessened its stake in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 38.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 2,591 shares of the gold and copper producer’s stock after selling 1,602 shares during the period. Spire Wealth Management’s holdings in Barrick Gold were worth $40,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Wellington Management Group LLP raised its stake in Barrick Gold by 2.7% in the third quarter. Wellington Management Group LLP now owns 54,712,508 shares of the gold and copper producer’s stock valued at $1,088,484,000 after buying an additional 1,458,084 shares during the period. The Manufacturers Life Insurance Company raised its stake in Barrick Gold by 33.3% in 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 buying an additional 2,854,055 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised 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 buying an additional 6,904,934 shares during the period. Geode Capital Management LLC raised its stake 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 valued at $162,140,000 after buying an additional 696,556 shares during the period. Finally, Toronto Dominion Bank raised its stake in Barrick Gold by 9.8% in the third quarter. Toronto Dominion Bank now owns 6,035,814 shares of the gold and copper producer’s stock valued at $120,052,000 after buying an additional 538,204 shares during the period. Institutional investors own 62.85% of the company’s stock.

Analyst Upgrades and Downgrades

GOLD has been the topic of several research analyst reports. Berenberg Bank upped their price objective on Barrick Gold from $37.00 to $38.00 in a research note on Tuesday, November 26th. Cibc World Mkts lowered Barrick Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 25th. Bank of America lowered Barrick Gold from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $21.00 to $18.00 in a research note on Monday, January 27th. UBS Group lowered Barrick Gold from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $23.00 to $22.00 in a research note on Wednesday, October 30th. Finally, CIBC lowered Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research note on Monday, November 25th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.83.

Barrick Gold Trading Down 0.8 %

Shares of NYSE:GOLD opened at $17.04 on Monday. The company has a market capitalization of $29.42 billion, a P/E ratio of 18.32, a P/E/G ratio of 0.39 and a beta of 0.55. 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 business’s 50 day simple moving average is $16.19 and its 200 day simple moving average is $18.17.

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.