Wahed Invest LLC Buys 2,329 Shares of Barrick Gold Corp (NYSE:GOLD)

Wahed Invest LLC increased its stake in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 11.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,879 shares of the gold and copper producer’s stock after purchasing an additional 2,329 shares during the quarter. Wahed Invest LLC’s holdings in Barrick Gold were worth $455,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Exchange Traded Concepts LLC boosted its position 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 valued at $28,000 after buying an additional 935 shares during the last quarter. Crewe Advisors LLC increased its position in Barrick Gold by 628.8% in the second quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer’s stock worth $30,000 after purchasing an additional 1,572 shares during the period. Jackson Grant Investment Advisers Inc. bought a new stake in Barrick Gold during the 2nd quarter worth about $32,000. Eastern Bank acquired a new position in Barrick Gold during the 3rd quarter valued at about $32,000. Finally, JFS Wealth Advisors LLC boosted its stake in shares of Barrick Gold by 451.7% in the 3rd quarter. JFS Wealth Advisors LLC now owns 1,909 shares of the gold and copper producer’s stock valued at $38,000 after purchasing an additional 1,563 shares during the last quarter. Institutional investors and hedge funds own 62.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Berenberg Bank boosted their price target on shares of Barrick Gold from $37.00 to $38.00 in a research note on Tuesday, November 26th. UBS Group downgraded 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 cut Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research note on Monday, November 25th. Scotiabank reduced their target price on Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating on the stock in a report on Monday, November 25th. Finally, Raymond James decreased their target price on Barrick Gold from $26.00 to $25.00 and set an “outperform” rating for the company in a research report on Monday, November 25th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $25.60.

Barrick Gold Stock Performance

Shares of GOLD opened at $16.77 on Friday. The firm has a market cap of $29.31 billion, a P/E ratio of 18.03, a PEG ratio of 0.48 and a beta of 0.53. Barrick Gold Corp has a twelve month low of $13.76 and a twelve month high of $21.35. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.06 and a current ratio of 2.65. The firm’s 50 day moving average price is $18.94 and its two-hundred day moving average price is $18.52.

Barrick Gold Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend is Friday, November 29th. Barrick Gold’s payout ratio 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.