Crossmark Global Holdings Inc. Trims Position in Barrick Gold Corp (NYSE:GOLD)

Crossmark Global Holdings Inc. decreased its position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 72.6% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 17,882 shares of the gold and copper producer’s stock after selling 47,414 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Barrick Gold were worth $355,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Clean Yield Group purchased a new position in shares of Barrick Gold in the first quarter worth $25,000. Exchange Traded Concepts LLC lifted its stake in Barrick Gold by 198.1% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,407 shares of the gold and copper producer’s stock worth $28,000 after purchasing an additional 935 shares in the last quarter. Crewe Advisors LLC boosted its holdings in shares of Barrick Gold by 628.8% during the 2nd quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer’s stock valued at $30,000 after purchasing an additional 1,572 shares during the last quarter. Jackson Grant Investment Advisers Inc. purchased a new position in shares of Barrick Gold during the second quarter valued at about $32,000. Finally, Eastern Bank purchased a new position in shares of Barrick Gold during the third quarter valued at about $32,000. Institutional investors own 62.85% of the company’s stock.

Wall Street Analysts Forecast Growth

GOLD has been the subject of a number of research reports. TD Securities dropped their price target on Barrick Gold from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Friday, November 8th. UBS Group lowered shares of Barrick Gold from a “buy” rating to a “neutral” rating and cut their target price for the company from $23.00 to $22.00 in a report on Wednesday, October 30th. Jefferies Financial Group upped their price target on shares of Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, September 13th. Argus upgraded shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Thursday, August 29th. Finally, Scotiabank reduced their target price on shares of Barrick Gold from $25.00 to $24.00 and set a “sector outperform” rating on the stock in a report on Friday, November 8th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Barrick Gold has a consensus rating of “Moderate Buy” and an average target price of $23.90.

Barrick Gold Price Performance

Barrick Gold stock opened at $16.65 on Monday. Barrick Gold Corp has a 12-month low of $13.76 and a 12-month high of $21.35. 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 50-day moving average price of $19.69 and a 200-day moving average price of $18.49. The firm has a market capitalization of $29.11 billion, a PE ratio of 17.90, a price-to-earnings-growth ratio of 0.39 and a beta of 0.56.

Barrick Gold Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a dividend of $0.10 per share. The ex-dividend date is Friday, November 29th. This represents a $0.40 annualized dividend and a dividend yield of 2.40%. Barrick Gold’s dividend payout ratio (DPR) is presently 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.