Highland Capital Management LLC Purchases 34,055 Shares of Barrick Gold Corp (NYSE:GOLD)

Highland Capital Management LLC boosted its position in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 82.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 75,584 shares of the gold and copper producer’s stock after buying an additional 34,055 shares during the quarter. Highland Capital Management LLC’s holdings in Barrick Gold were worth $1,172,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GOLD. Baader Bank Aktiengesellschaft bought a new stake in Barrick Gold during the fourth quarter worth about $344,000. Forsta AP Fonden boosted its position in shares of Barrick Gold by 3.5% in the 4th quarter. Forsta AP Fonden now owns 363,144 shares of the gold and copper producer’s stock worth $5,628,000 after purchasing an additional 12,200 shares in the last quarter. Smith Group Asset Management LLC bought a new position in Barrick Gold during the 4th quarter valued at approximately $1,240,000. Perigon Wealth Management LLC raised its stake in Barrick Gold by 60.4% during the fourth quarter. Perigon Wealth Management LLC now owns 33,841 shares of the gold and copper producer’s stock valued at $533,000 after buying an additional 12,739 shares during the last quarter. Finally, Lebenthal Global Advisors LLC boosted its holdings in Barrick Gold by 31.4% in the fourth quarter. Lebenthal Global Advisors LLC now owns 39,396 shares of the gold and copper producer’s stock worth $611,000 after acquiring an additional 9,414 shares in the last quarter. Hedge funds and other institutional investors own 62.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. TD Securities lowered their price target on Barrick Gold from $26.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th. Citigroup cut their price target on shares of Barrick Gold from $23.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday, December 20th. Scotiabank lowered shares of Barrick Gold from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $23.00 to $19.00 in a report on Thursday. UBS Group downgraded Barrick Gold from a “buy” rating to a “neutral” rating and cut their target price for the company from $23.00 to $22.00 in a research note on Wednesday, October 30th. Finally, Bank of America cut Barrick Gold from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $21.00 to $18.00 in a research note on Monday. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Barrick Gold presently has an average rating of “Moderate Buy” and a consensus price target of $23.92.

Barrick Gold Stock Performance

GOLD opened at $16.56 on Friday. The company’s 50 day moving average is $16.32 and its 200 day moving average is $18.26. The company has a current ratio of 2.65, a quick ratio of 2.06 and a debt-to-equity ratio of 0.14. The company has a market cap of $28.60 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 0.30 and a beta of 0.54. Barrick Gold Corp has a 12-month low of $13.76 and a 12-month high of $21.35.

Barrick Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date was Friday, November 29th. Barrick Gold’s payout ratio is 43.01%.

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.