Avior Wealth Management LLC Grows Position in Barrick Gold Corp (NYSE:GOLD)

Avior Wealth Management LLC raised its holdings in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 24.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,399 shares of the gold and copper producer’s stock after acquiring an additional 659 shares during the period. Avior Wealth Management LLC’s holdings in Barrick Gold were worth $68,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. EdgePoint Investment Group Inc. increased its position in shares of Barrick Gold by 3.7% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 18,837,028 shares of the gold and copper producer’s stock valued at $314,254,000 after purchasing an additional 666,214 shares during the last quarter. CIBC Asset Management Inc increased its position in shares of Barrick Gold by 3.3% during the 2nd quarter. CIBC Asset Management Inc now owns 14,546,530 shares of the gold and copper producer’s stock valued at $242,491,000 after purchasing an additional 461,406 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Barrick Gold by 16.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,471,407 shares of the gold and copper producer’s stock valued at $124,635,000 after purchasing an additional 1,057,886 shares during the last quarter. Mondrian Investment Partners LTD increased its position in shares of Barrick Gold by 1.5% during the 2nd quarter. Mondrian Investment Partners LTD now owns 5,975,918 shares of the gold and copper producer’s stock valued at $110,614,000 after purchasing an additional 88,008 shares during the last quarter. Finally, Sound Shore Management Inc. CT increased its position in shares of Barrick Gold by 48.2% during the 2nd quarter. Sound Shore Management Inc. CT now owns 4,455,551 shares of the gold and copper producer’s stock valued at $74,319,000 after purchasing an additional 1,449,862 shares during the last quarter. Hedge funds and other institutional investors own 62.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GOLD. Royal Bank of Canada increased their price objective on Barrick Gold from $21.00 to $22.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. Scotiabank reduced their price target on Barrick Gold from $25.00 to $24.00 and set a “sector outperform” rating on the stock in a research report on Friday, November 8th. TD Securities reduced their price target on Barrick Gold from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. UBS Group lowered Barrick Gold from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $23.00 to $22.00 in a research report on Wednesday, October 30th. Finally, Argus upgraded Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Thursday, August 29th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $23.90.

Barrick Gold Price Performance

Shares of GOLD stock opened at $18.22 on Monday. The firm has a market cap of $31.85 billion, a P/E ratio of 19.59, a P/E/G ratio of 0.43 and a beta of 0.56. Barrick Gold Corp has a fifty-two week low of $13.76 and a fifty-two week high of $21.35. The business’s 50 day moving average price is $19.47 and its 200-day moving average price is $18.53. 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a $0.10 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.20%. Barrick Gold’s dividend payout ratio is currently 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.