Brown Brothers Harriman & Co. Buys 9,267 Shares of Barrick Gold Corp (NYSE:GOLD)

Brown Brothers Harriman & Co. boosted its stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 115.8% in the third quarter, Holdings Channel reports. The firm owned 17,267 shares of the gold and copper producer’s stock after purchasing an additional 9,267 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Barrick Gold were worth $343,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. DCF Advisers LLC boosted its position in shares of Barrick Gold by 48.3% during the 2nd quarter. DCF Advisers LLC now owns 107,500 shares of the gold and copper producer’s stock worth $1,793,000 after acquiring an additional 35,000 shares in the last quarter. Mizuho Markets Americas LLC lifted its position in shares of Barrick Gold by 21.7% during the 3rd 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 last quarter. Entropy Technologies LP acquired a new stake in Barrick Gold in the third quarter valued at about $3,711,000. Aigen Investment Management LP raised its stake in Barrick Gold by 330.5% during the third quarter. Aigen Investment Management LP now owns 99,240 shares of the gold and copper producer’s stock worth $1,974,000 after acquiring an additional 76,186 shares in the last quarter. Finally, Evexia Wealth LLC bought a new position in shares of Barrick Gold in the third quarter worth about $2,382,000. 62.85% of the stock is currently owned by institutional investors and hedge funds.

Barrick Gold Stock Performance

NYSE:GOLD opened at $17.58 on Thursday. 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 Corp has a fifty-two week low of $13.76 and a fifty-two week high of $21.35. The company has a 50 day simple moving average of $19.31 and a two-hundred day simple moving average of $18.53. The company has a market capitalization of $30.73 billion, a PE ratio of 18.90, a P/E/G ratio of 0.42 and a beta of 0.56.

Barrick Gold Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a yield of 2.28%. Barrick Gold’s dividend payout ratio (DPR) is currently 43.01%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Royal Bank of Canada upped their price objective on shares of Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. UBS Group cut Barrick Gold from a “buy” rating to a “neutral” rating and dropped their price target for the company from $23.00 to $22.00 in a research note on Wednesday, October 30th. Cibc World Mkts lowered Barrick Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday. Scotiabank dropped their target price on Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating for the company in a research report on Monday. 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 report on Thursday, August 29th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Barrick Gold presently has a consensus rating of “Moderate Buy” and an average price target of $24.91.

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.