Glass Wealth Management Co LLC Acquires 7,775 Shares of Barrick Gold Corp (NYSE:GOLD)

Glass Wealth Management Co LLC lifted its stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 4.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 184,230 shares of the gold and copper producer’s stock after buying an additional 7,775 shares during the period. Barrick Gold makes up approximately 2.0% of Glass Wealth Management Co LLC’s portfolio, making the stock its 19th biggest holding. Glass Wealth Management Co LLC’s holdings in Barrick Gold were worth $3,664,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of GOLD. Natixis Advisors LLC increased its stake in Barrick Gold by 128.7% in the 3rd quarter. Natixis Advisors LLC now owns 174,304 shares of the gold and copper producer’s stock worth $3,467,000 after purchasing an additional 98,086 shares during the period. Mizuho Markets Americas LLC increased its stake in shares of Barrick Gold by 21.7% in the third quarter. Mizuho Markets Americas LLC now owns 2,317,580 shares of the gold and copper producer’s stock worth $46,097,000 after buying an additional 413,012 shares during the period. Empowered Funds LLC raised its holdings in Barrick Gold by 3.0% during the 3rd quarter. Empowered Funds LLC now owns 178,615 shares of the gold and copper producer’s stock valued at $3,553,000 after buying an additional 5,166 shares during the last quarter. OneDigital Investment Advisors LLC grew its holdings in Barrick Gold by 31.4% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 17,830 shares of the gold and copper producer’s stock worth $355,000 after acquiring an additional 4,258 shares during the last quarter. Finally, Metis Global Partners LLC increased its position in shares of Barrick Gold by 21.9% in the third quarter. Metis Global Partners LLC now owns 138,232 shares of the gold and copper producer’s stock valued at $2,749,000 after acquiring an additional 24,812 shares during the period. Institutional investors own 62.85% of the company’s stock.

Barrick Gold Trading Down 1.2 %

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 market capitalization of $29.11 billion, a price-to-earnings ratio of 17.90, a price-to-earnings-growth ratio of 0.39 and a beta of 0.56. The business’s fifty day simple moving average is $19.69 and its two-hundred day simple moving average is $18.49. The company has a current ratio of 2.65, a quick ratio of 2.06 and a debt-to-equity ratio of 0.14.

Barrick Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.40%. The ex-dividend date is Friday, November 29th. Barrick Gold’s dividend payout ratio (DPR) is 43.01%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on GOLD shares. Raymond James cut their price target on shares of Barrick Gold from $26.50 to $26.00 and set an “outperform” rating on the stock in a report on Thursday, September 26th. TD Securities reduced their price target on shares of Barrick Gold from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Jefferies Financial Group raised their price objective on shares of Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Friday, September 13th. Scotiabank reduced their target price on Barrick Gold from $25.00 to $24.00 and set a “sector outperform” rating on the stock in a report on Friday, November 8th. Finally, Argus upgraded Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research note on Thursday, August 29th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $23.90.

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.