Valley National Advisers Inc. Invests $101,000 in Barrick Gold Corp (NYSE:GOLD)

Valley National Advisers Inc. bought a new position in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 6,530 shares of the gold and copper producer’s stock, valued at approximately $101,000.

Several other institutional investors have also recently modified their holdings of GOLD. Exchange Traded Concepts LLC grew its holdings 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 valued at $28,000 after purchasing an additional 935 shares during the last quarter. Eastern Bank purchased a new position in Barrick Gold during the 3rd quarter valued at about $32,000. JFS Wealth Advisors LLC raised its holdings in shares of 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 valued at $38,000 after acquiring an additional 1,563 shares in the last quarter. AlphaMark Advisors LLC bought a new position in Barrick Gold in the 3rd quarter worth $60,000. Finally, BNP Paribas lifted its holdings in Barrick Gold by 221.7% in the third quarter. BNP Paribas now owns 3,066 shares of the gold and copper producer’s stock worth $62,000 after buying an additional 2,113 shares during the period. 62.85% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on GOLD shares. Scotiabank lowered Barrick Gold from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $23.00 to $19.00 in a research report on Thursday. CIBC lowered Barrick Gold from a “sector outperform” rating to a “neutral” rating in a report on Monday, November 25th. Citigroup decreased their price objective on shares of Barrick Gold from $23.00 to $17.00 and set a “neutral” rating for the company in a report on Friday, December 20th. Berenberg Bank upped their price objective on Barrick Gold from $37.00 to $38.00 in a research report on Tuesday, November 26th. Finally, UBS Group downgraded shares of Barrick Gold from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $23.00 to $22.00 in a research report on Wednesday, October 30th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Barrick Gold presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.92.

Barrick Gold Trading Down 1.1 %

GOLD stock opened at $16.38 on Monday. The company has a market capitalization of $28.30 billion, a price-to-earnings ratio of 17.62, a PEG ratio of 0.35 and a beta of 0.54. The business has a 50 day simple moving average of $16.25 and a two-hundred day simple moving average of $18.23. Barrick Gold Corp has a 1-year low of $13.76 and a 1-year high of $21.35. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.65 and a quick ratio of 2.06.

Barrick Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.44%. The ex-dividend date was Friday, November 29th. Barrick Gold’s dividend payout ratio is presently 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.