Hedges Asset Management LLC Raises Stock Holdings in Barrick Gold Corp (NYSE:GOLD)

Hedges Asset Management LLC boosted its holdings in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 22.3% during the 4th quarter, Holdings Channel reports. The firm owned 48,300 shares of the gold and copper producer’s stock after acquiring an additional 8,800 shares during the period. Hedges Asset Management LLC’s holdings in Barrick Gold were worth $749,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Exchange Traded Concepts LLC boosted its holdings in shares of Barrick Gold by 198.1% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,407 shares of the gold and copper producer’s stock worth $28,000 after buying an additional 935 shares during the last quarter. Eastern Bank bought a new stake in Barrick Gold in the third quarter worth about $32,000. JFS Wealth Advisors LLC boosted its stake in Barrick Gold by 451.7% in 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 acquiring an additional 1,563 shares during the last quarter. AlphaMark Advisors LLC bought a new position in shares of Barrick Gold during the 3rd quarter valued at approximately $60,000. Finally, BNP Paribas increased its stake in shares of Barrick Gold by 221.7% during the 3rd quarter. BNP Paribas now owns 3,066 shares of the gold and copper producer’s stock worth $62,000 after purchasing an additional 2,113 shares during the last quarter. Institutional investors own 62.85% of the company’s stock.

Barrick Gold Price Performance

GOLD stock opened at $15.77 on Friday. The firm has a market capitalization of $27.23 billion, a P/E ratio of 16.95, a price-to-earnings-growth ratio of 0.31 and a beta of 0.54. 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 fifty day simple moving average of $16.45 and a two-hundred day simple moving average of $18.33. Barrick Gold Corp has a 52 week low of $13.76 and a 52 week high of $21.35.

Barrick Gold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date of this dividend was Friday, November 29th. Barrick Gold’s dividend payout ratio is currently 43.01%.

Analysts Set New Price Targets

GOLD has been the subject of several research reports. Raymond James reduced their price objective on Barrick Gold from $26.00 to $25.00 and set an “outperform” rating for the company in a report on Monday, November 25th. Citigroup reduced their target price on shares of Barrick Gold from $23.00 to $17.00 and set a “neutral” rating for the company in a research note on Friday, December 20th. Scotiabank downgraded Barrick Gold from a “sector outperform” rating to a “sector perform” rating and cut their target price for the stock from $23.00 to $19.00 in a research note on Tuesday. Berenberg Bank boosted their price target on shares of Barrick Gold from $37.00 to $38.00 in a research report on Tuesday, November 26th. Finally, TD Securities decreased their price objective on shares of Barrick Gold from $26.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $24.45.

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.