Silverlake Wealth Management LLC Reduces Position in Barrick Gold Corp (NYSE:GOLD)

Silverlake Wealth Management LLC cut its position in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 10.0% during the fourth quarter, HoldingsChannel reports. The firm owned 44,902 shares of the gold and copper producer’s stock after selling 4,988 shares during the quarter. Silverlake Wealth Management LLC’s holdings in Barrick Gold were worth $696,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of GOLD. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Barrick Gold by 221.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,027,811 shares of the gold and copper producer’s stock valued at $199,427,000 after buying an additional 6,904,934 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Barrick Gold by 33.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 11,431,497 shares of the gold and copper producer’s stock valued at $227,524,000 after buying an additional 2,854,055 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Barrick Gold by 2.7% in the 3rd quarter. Wellington Management Group LLP now owns 54,712,508 shares of the gold and copper producer’s stock valued at $1,088,484,000 after buying an additional 1,458,084 shares in the last quarter. Systrade AG acquired a new position in shares of Barrick Gold in the 3rd quarter valued at $28,094,000. Finally, Quadrature Capital Ltd acquired a new position in shares of Barrick Gold in the 3rd quarter valued at $20,379,000. 62.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. TD Securities lowered their target price on shares of Barrick Gold from $26.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. Bank of America cut shares of Barrick Gold from a “buy” rating to a “neutral” rating and lowered their target price for the company from $21.00 to $18.00 in a report on Monday, January 27th. Cibc World Mkts cut shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 25th. Scotiabank cut shares of Barrick Gold from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $23.00 to $19.00 in a research note on Thursday, January 30th. Finally, Raymond James decreased their price target on shares of Barrick Gold from $26.00 to $25.00 and set an “outperform” rating for the company in a research note on Monday, November 25th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $23.92.

Barrick Gold Stock Up 0.8 %

Shares of Barrick Gold stock opened at $16.69 on Wednesday. The company has a market cap of $28.82 billion, a P/E ratio of 17.94, a PEG ratio of 0.36 and a beta of 0.55. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.06 and a current ratio of 2.65. Barrick Gold Corp has a one year low of $13.76 and a one year high of $21.35. The firm has a fifty day moving average of $16.23 and a two-hundred day moving average of $18.21.

Barrick Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a yield of 2.40%. Barrick Gold’s payout ratio is currently 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.