Synovus Financial Corp Takes Position in Barrick Gold Corp (NYSE:GOLD)

Synovus Financial Corp acquired a new position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 10,574 shares of the gold and copper producer’s stock, valued at approximately $210,000.

Several other large investors have also recently bought and sold shares of GOLD. Exchange Traded Concepts LLC grew its stake in shares of Barrick Gold by 198.1% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,407 shares of the gold and copper producer’s stock worth $28,000 after purchasing an additional 935 shares during the period. Crewe Advisors LLC grew its position in Barrick Gold by 628.8% during the second quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer’s stock worth $30,000 after buying an additional 1,572 shares during the period. Eastern Bank purchased a new position in Barrick Gold in the third quarter valued at about $32,000. JFS Wealth Advisors LLC lifted its position in shares of Barrick Gold by 451.7% during 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 acquiring an additional 1,563 shares during the period. Finally, AlphaMark Advisors LLC purchased a new stake in shares of Barrick Gold during the 3rd quarter worth approximately $60,000. Hedge funds and other institutional investors own 62.85% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on GOLD. Jefferies Financial Group raised their price objective on Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, September 13th. UBS Group downgraded Barrick Gold from a “buy” rating to a “neutral” rating and cut their price target for the stock from $23.00 to $22.00 in a research note on Wednesday, October 30th. TD Securities decreased their price objective on shares of Barrick Gold from $26.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. Royal Bank of Canada raised their target price on shares of Barrick Gold from $21.00 to $22.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Finally, Scotiabank lowered their price target on shares of Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating on the stock in a research report on Monday, November 25th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $25.60.

Barrick Gold Stock Performance

NYSE:GOLD opened at $15.23 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.65 and a quick ratio of 2.06. The firm has a market cap of $26.52 billion, a PE ratio of 16.38, a P/E/G ratio of 0.47 and a beta of 0.53. The firm has a 50 day simple moving average of $18.26 and a 200-day simple moving average of $18.48. Barrick Gold Corp has a 1-year low of $13.76 and a 1-year high of $21.35.

Barrick Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were issued a $0.10 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.40 annualized dividend and a yield of 2.63%. Barrick Gold’s dividend payout ratio (DPR) 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.