Bridgewater Associates LP Has $28.79 Million Position in Barrick Gold Corp (NYSE:GOLD)

Bridgewater Associates LP raised its stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 114.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,447,251 shares of the gold and copper producer’s stock after acquiring an additional 771,857 shares during the period. Bridgewater Associates LP owned approximately 0.08% of Barrick Gold worth $28,786,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of GOLD. Exchange Traded Concepts LLC boosted its position in Barrick Gold by 198.1% in the third quarter. Exchange Traded Concepts LLC now owns 1,407 shares of the gold and copper producer’s stock valued at $28,000 after buying an additional 935 shares in the last quarter. Clean Yield Group bought a new position in shares of Barrick Gold in the 1st quarter valued at $25,000. Eastern Bank acquired a new stake in shares of Barrick Gold during the 3rd quarter valued at $32,000. Crewe Advisors LLC grew its position in Barrick Gold by 628.8% during the 2nd quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer’s stock worth $30,000 after acquiring an additional 1,572 shares during the last quarter. Finally, JFS Wealth Advisors LLC increased its holdings in Barrick Gold by 451.7% in the 3rd quarter. JFS Wealth Advisors LLC now owns 1,909 shares of the gold and copper producer’s stock worth $38,000 after purchasing an additional 1,563 shares in the last quarter. 62.85% of the stock is currently owned by institutional investors.

Barrick Gold Trading Up 0.1 %

GOLD opened at $17.58 on Thursday. The company has a fifty day moving average price of $19.31 and a two-hundred day moving average price of $18.53. Barrick Gold Corp has a 1-year low of $13.76 and a 1-year high of $21.35. The company has a market cap of $30.73 billion, a P/E ratio of 18.90, a price-to-earnings-growth ratio of 0.42 and a beta of 0.56. The company has a current ratio of 2.65, a quick ratio of 2.06 and a debt-to-equity ratio of 0.14.

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 issued a $0.10 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.40 annualized dividend and a yield of 2.28%. Barrick Gold’s payout ratio is currently 43.01%.

Analysts Set New Price Targets

A number of analysts have recently commented on GOLD shares. Cibc World Mkts lowered Barrick Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday. Scotiabank cut their target price on shares of Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating on the stock in a research report on Monday. CIBC cut shares of Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research report on Monday. Jefferies Financial Group raised their price target on shares of Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, September 13th. Finally, Royal Bank of Canada raised their target price on Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $24.91.

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.