Confluence Wealth Services Inc. Sells 1,000 Shares of Barrick Gold Corp (NYSE:GOLD)

Confluence Wealth Services Inc. lessened its position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 3.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,285 shares of the gold and copper producer’s stock after selling 1,000 shares during the quarter. Confluence Wealth Services Inc.’s holdings in Barrick Gold were worth $416,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. increased its stake in Barrick Gold by 19.9% during the 3rd quarter. Principal Financial Group Inc. now owns 483,613 shares of the gold and copper producer’s stock valued at $9,630,000 after purchasing an additional 80,366 shares in the last quarter. Mizuho Markets Americas LLC grew its holdings in shares of Barrick Gold by 21.7% during the third quarter. Mizuho Markets Americas LLC now owns 2,317,580 shares of the gold and copper producer’s stock valued at $46,097,000 after buying an additional 413,012 shares during the last quarter. Entropy Technologies LP acquired a new position in shares of Barrick Gold in the 3rd quarter valued at $3,711,000. Aigen Investment Management LP raised its stake in 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 acquiring an additional 76,186 shares during the last quarter. Finally, Crocodile Capital Partners GmbH lifted its position in Barrick Gold by 97.3% during the 4th quarter. Crocodile Capital Partners GmbH now owns 1,460,000 shares of the gold and copper producer’s stock worth $22,630,000 after acquiring an additional 720,000 shares during the period. Hedge funds and other institutional investors own 62.85% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. TD Securities cut their price objective on Barrick Gold from $26.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. 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. Raymond James cut their price objective on shares of Barrick Gold from $26.00 to $25.00 and set an “outperform” rating on the stock in a research note on Monday, November 25th. Bank of America downgraded shares of Barrick Gold from a “buy” rating to a “neutral” rating and decreased their target price for the company from $21.00 to $18.00 in a research report on Monday, January 27th. Finally, Citigroup cut their price target 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. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Barrick Gold currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.92.

Barrick Gold Stock Performance

Shares of NYSE:GOLD opened at $17.13 on Thursday. Barrick Gold Corp has a 1 year low of $13.76 and a 1 year 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. The business’s 50 day moving average price is $16.21 and its 200-day moving average price is $18.20. The firm has a market capitalization of $29.59 billion, a PE ratio of 18.42, a P/E/G ratio of 0.36 and a beta of 0.55.

Barrick Gold 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.