Tidal Investments LLC Lowers Stake in Barrick Gold Corp (NYSE:GOLD)

Tidal Investments LLC lessened its stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 56.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,948 shares of the gold and copper producer’s stock after selling 49,713 shares during the period. Tidal Investments LLC’s holdings in Barrick Gold were worth $755,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GOLD. DCF Advisers LLC increased its position in shares of Barrick Gold by 48.3% during the second quarter. DCF Advisers LLC now owns 107,500 shares of the gold and copper producer’s stock worth $1,793,000 after acquiring an additional 35,000 shares during the period. Mizuho Markets Americas LLC increased its holdings in Barrick Gold by 21.7% during the 3rd quarter. Mizuho Markets Americas LLC now owns 2,317,580 shares of the gold and copper producer’s stock worth $46,097,000 after purchasing an additional 413,012 shares during the period. Entropy Technologies LP bought a new stake in Barrick Gold during the 3rd quarter valued at $3,711,000. Aigen Investment Management LP lifted its holdings in shares of Barrick Gold by 330.5% in the 3rd quarter. Aigen Investment Management LP now owns 99,240 shares of the gold and copper producer’s stock worth $1,974,000 after buying an additional 76,186 shares during the period. Finally, Evexia Wealth LLC bought a new position in shares of Barrick Gold during the 3rd quarter worth $2,382,000. Institutional investors own 62.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on GOLD shares. TD Securities decreased 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. Citigroup reduced their price target on shares of Barrick Gold from $23.00 to $17.00 and set a “neutral” rating for the company in a report on Friday. Scotiabank dropped their price objective on shares of 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. Cibc World Mkts downgraded shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 25th. Finally, Argus raised Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research report on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $24.82.

Barrick Gold Price Performance

NYSE GOLD opened at $15.46 on Friday. Barrick Gold Corp has a 12-month low of $13.76 and a 12-month high of $21.35. The firm’s fifty day simple moving average is $18.17 and its two-hundred day simple moving average is $18.46. The company has a current ratio of 2.65, a quick ratio of 2.06 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $26.92 billion, a P/E ratio of 16.62, a P/E/G ratio of 0.47 and a beta of 0.53.

Barrick Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.59%. The ex-dividend date was Friday, November 29th. Barrick Gold’s dividend payout ratio is currently 43.01%.

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.