Capital Asset Advisory Services LLC Purchases 1,606 Shares of Barrick Gold Corp (NYSE:GOLD)

Capital Asset Advisory Services LLC boosted its position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 1.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 123,156 shares of the gold and copper producer’s stock after acquiring an additional 1,606 shares during the quarter. Capital Asset Advisory Services LLC’s holdings in Barrick Gold were worth $1,951,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its holdings in shares of Barrick Gold by 2.7% in the third quarter. Wellington Management Group LLP now owns 54,712,508 shares of the gold and copper producer’s stock worth $1,088,484,000 after purchasing an additional 1,458,084 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in 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 worth $227,524,000 after acquiring an additional 2,854,055 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Barrick Gold by 221.1% during the third 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 acquiring an additional 6,904,934 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Barrick Gold by 9.5% in the third quarter. Geode Capital Management LLC now owns 8,047,255 shares of the gold and copper producer’s stock valued at $162,140,000 after purchasing an additional 696,556 shares during the period. Finally, Toronto Dominion Bank grew its stake in Barrick Gold by 9.8% in the third quarter. Toronto Dominion Bank now owns 6,035,814 shares of the gold and copper producer’s stock worth $120,052,000 after purchasing an additional 538,204 shares in the last quarter. 62.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on GOLD shares. TD Securities lowered their target price on Barrick Gold from $26.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. Berenberg Bank increased their target price on shares of Barrick Gold from $37.00 to $38.00 in a report on Tuesday, November 26th. Citigroup reduced their price target on shares of Barrick Gold from $23.00 to $17.00 and set a “neutral” rating for the company in a report on Friday, December 20th. CIBC downgraded shares of Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research note on Monday, November 25th. Finally, Cibc World Mkts downgraded shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 25th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Barrick Gold currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.45.

Barrick Gold Stock Performance

Shares of GOLD stock opened at $16.13 on Monday. 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 company has a market cap of $27.85 billion, a PE ratio of 17.34, a PEG ratio of 0.30 and a beta of 0.54. Barrick Gold Corp has a 12-month low of $13.76 and a 12-month high of $21.35. The business’s fifty day simple moving average is $16.42 and its 200-day simple moving average is $18.31.

Barrick Gold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date of this dividend was Friday, November 29th. Barrick Gold’s dividend payout ratio (DPR) is presently 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.