Wilmington Savings Fund Society FSB Takes Position in Barrick Gold Corp (NYSE:GOLD)

Wilmington Savings Fund Society FSB purchased a new position in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) in the third quarter, Holdings Channel reports. The fund purchased 26,014 shares of the gold and copper producer’s stock, valued at approximately $517,000.

A number of other hedge funds also recently bought and sold shares of the business. Exchange Traded Concepts LLC increased its position in shares of Barrick Gold by 198.1% in the third 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 in the last quarter. Crewe Advisors LLC increased its holdings in Barrick Gold by 628.8% in the 2nd quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer’s stock worth $30,000 after acquiring an additional 1,572 shares in the last quarter. Eastern Bank purchased a new stake in Barrick Gold in the 3rd quarter worth $32,000. JFS Wealth Advisors LLC raised its position in Barrick Gold by 451.7% during the third quarter. JFS Wealth Advisors LLC now owns 1,909 shares of the gold and copper producer’s stock worth $38,000 after acquiring an additional 1,563 shares during the period. Finally, AlphaMark Advisors LLC purchased a new position in Barrick Gold during the third quarter valued at $60,000. Hedge funds and other institutional investors own 62.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on GOLD shares. Jefferies Financial Group upped their price target on shares of Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Cibc World Mkts cut Barrick Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, November 25th. CIBC lowered Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research note on Monday, November 25th. Argus upgraded Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research report on Thursday, August 29th. Finally, Berenberg Bank raised their price objective on Barrick Gold from $37.00 to $38.00 in a report on Tuesday, November 26th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.60.

Barrick Gold Stock Down 2.6 %

Shares of GOLD opened at $16.34 on Tuesday. Barrick Gold Corp has a 52-week low of $13.76 and a 52-week high of $21.35. The company has a quick ratio of 2.06, a current ratio of 2.65 and a debt-to-equity ratio of 0.14. The stock has a fifty day simple moving average of $18.51 and a two-hundred day simple moving average of $18.53. The company has a market capitalization of $28.45 billion, a PE ratio of 17.57, a price-to-earnings-growth ratio of 0.47 and a beta of 0.53.

Barrick Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.45%. The ex-dividend date of this dividend was Friday, November 29th. Barrick Gold’s 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.