City State Bank Has $116,000 Stock Position in Barrick Gold Corp (NYSE:GOLD)

City State Bank lifted its stake in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 200.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,500 shares of the gold and copper producer’s stock after purchasing an additional 5,000 shares during the quarter. City State Bank’s holdings in Barrick Gold were worth $116,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of GOLD. Ritholtz Wealth Management boosted its stake in 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 buying an additional 502 shares in the last quarter. Greenleaf Trust boosted its stake in Barrick Gold by 2.1% in the third quarter. Greenleaf Trust now owns 25,659 shares of the gold and copper producer’s stock valued at $510,000 after buying an additional 540 shares in the last quarter. Moors & Cabot Inc. boosted its stake in Barrick Gold by 0.9% in the third 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 in the last quarter. Chelsea Counsel Co. boosted its stake in Barrick Gold by 1.4% in the third quarter. Chelsea Counsel Co. now owns 42,973 shares of the gold and copper producer’s stock valued at $855,000 after buying an additional 590 shares in the last quarter. Finally, Silverlake Wealth Management LLC boosted its stake in Barrick Gold by 1.3% in the third quarter. Silverlake Wealth Management LLC now owns 49,890 shares of the gold and copper producer’s stock valued at $992,000 after buying an additional 628 shares in the last quarter. 62.85% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on GOLD shares. Citigroup reduced their price objective on Barrick Gold from $23.00 to $17.00 and set a “neutral” rating on the stock in a research note on Friday, December 20th. UBS Group lowered Barrick Gold from a “buy” rating to a “neutral” rating and cut their price target for the company from $23.00 to $22.00 in a research note on Wednesday, October 30th. CIBC lowered Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research note on Monday, November 25th. TD Securities cut their price target on Barrick Gold from $26.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. Finally, Raymond James cut their price target on Barrick Gold from $26.00 to $25.00 and set an “outperform” rating on the stock in a research note on Monday, November 25th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Barrick Gold has an average rating of “Moderate Buy” and a consensus target price of $24.82.

Barrick Gold Price Performance

Shares of GOLD opened at $15.46 on Tuesday. 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 company has a market capitalization of $26.92 billion, a price-to-earnings ratio of 16.62, a price-to-earnings-growth ratio of 0.47 and a beta of 0.54. The business has a 50-day moving average of $16.74 and a 200-day moving average of $18.40.

Barrick Gold Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were issued a $0.10 dividend. 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 2.59%. 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.