Blue Trust Inc. Sells 5,057 Shares of Barrick Gold Corp (NYSE:GOLD)

Blue Trust Inc. lessened its holdings in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 12.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 34,040 shares of the gold and copper producer’s stock after selling 5,057 shares during the period. Blue Trust Inc.’s holdings in Barrick Gold were worth $528,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Ritholtz Wealth Management increased its holdings in shares of Barrick Gold by 2.8% in the third quarter. Ritholtz Wealth Management now owns 18,163 shares of the gold and copper producer’s stock valued at $361,000 after purchasing an additional 502 shares during the last quarter. Greenleaf Trust boosted its holdings in shares of Barrick Gold by 2.1% during the 3rd quarter. Greenleaf Trust now owns 25,659 shares of the gold and copper producer’s stock worth $510,000 after buying an additional 540 shares during the period. Moors & Cabot Inc. grew its stake in Barrick Gold by 0.9% in the 3rd quarter. Moors & Cabot Inc. now owns 64,085 shares of the gold and copper producer’s stock valued at $1,275,000 after buying an additional 579 shares during the last quarter. Chelsea Counsel Co. raised its holdings in Barrick Gold by 1.4% in the 3rd quarter. Chelsea Counsel Co. now owns 42,973 shares of the gold and copper producer’s stock valued at $855,000 after acquiring an additional 590 shares during the period. Finally, Silverlake Wealth Management LLC lifted its position in Barrick Gold by 1.3% during the third quarter. Silverlake Wealth Management LLC now owns 49,890 shares of the gold and copper producer’s stock worth $992,000 after acquiring an additional 628 shares during the last quarter. Institutional investors and hedge funds own 62.85% of the company’s stock.

Barrick Gold Stock Up 3.8 %

NYSE GOLD opened at $16.56 on Friday. The business has a fifty day moving average price of $16.32 and a two-hundred day moving average price of $18.26. The stock has a market capitalization of $28.60 billion, a PE ratio of 17.81, a PEG ratio of 0.30 and a beta of 0.54. Barrick Gold Corp has a fifty-two week low of $13.76 and a fifty-two week 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.

Barrick Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.42%. The ex-dividend date of this dividend was Friday, November 29th. Barrick Gold’s dividend payout ratio (DPR) is presently 43.01%.

Analysts Set New Price Targets

Several equities analysts have recently commented on GOLD shares. Citigroup decreased their target price on Barrick Gold from $23.00 to $17.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th. CIBC lowered Barrick Gold from a “sector outperform” rating to a “neutral” rating in a report on Monday, November 25th. Bank of America downgraded Barrick Gold from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $21.00 to $18.00 in a report on Monday. Berenberg Bank upped their price target on shares of Barrick Gold from $37.00 to $38.00 in a research note on Tuesday, November 26th. Finally, TD Securities dropped their price objective on shares of Barrick Gold from $26.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $23.92.

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.