Peapack Gladstone Financial Corp Has $990,000 Stock Holdings in Barrick Gold Corp (NYSE:GOLD)

Peapack Gladstone Financial Corp cut its stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 1.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,757 shares of the gold and copper producer’s stock after selling 658 shares during the period. Peapack Gladstone Financial Corp’s holdings in Barrick Gold were worth $990,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GOLD. Exchange Traded Concepts LLC raised its holdings in 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 valued at $28,000 after acquiring an additional 935 shares in the last quarter. Crewe Advisors LLC raised its holdings in Barrick Gold by 628.8% in the 2nd quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer’s stock valued at $30,000 after acquiring an additional 1,572 shares in the last quarter. Eastern Bank acquired a new position in Barrick Gold in the 3rd quarter valued at $32,000. JFS Wealth Advisors LLC raised 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 valued at $38,000 after acquiring an additional 1,563 shares in the last quarter. Finally, AlphaMark Advisors LLC acquired a new position in Barrick Gold in the 3rd quarter valued at $60,000. 62.85% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on GOLD shares. TD Securities dropped their price objective on Barrick Gold from $26.00 to $25.00 and set a “buy” rating for the company in a report 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. Scotiabank decreased their price target on Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating on the stock in a research note on Monday, November 25th. Berenberg Bank lifted their price target on Barrick Gold from $37.00 to $38.00 in a research note on Tuesday, November 26th. Finally, CIBC lowered Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research note on Monday, November 25th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Barrick Gold presently has an average rating of “Moderate Buy” and an average target price of $25.60.

Barrick Gold Trading Down 2.3 %

Shares of GOLD stock opened at $16.78 on Monday. The firm has a market capitalization of $29.21 billion, a P/E ratio of 18.04, a P/E/G ratio of 0.47 and a beta of 0.53. Barrick Gold Corp has a twelve month low of $13.76 and a twelve month high of $21.35. The stock’s fifty day simple moving average is $18.58 and its 200 day simple moving average is $18.53. The company has a quick ratio of 2.06, a current ratio of 2.65 and a debt-to-equity ratio of 0.14.

Barrick Gold Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.38%. The ex-dividend date of this dividend is 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.