Moran Wealth Management LLC Reduces Stock Holdings in Barrick Gold Corp (NYSE:GOLD)

Moran Wealth Management LLC cut its position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 0.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 210,568 shares of the gold and copper producer’s stock after selling 861 shares during the period. Moran Wealth Management LLC’s holdings in Barrick Gold were worth $4,188,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Clean Yield Group purchased a new stake in Barrick Gold during the first quarter worth $25,000. Exchange Traded Concepts LLC boosted its holdings in Barrick Gold by 198.1% during the third quarter. Exchange Traded Concepts LLC now owns 1,407 shares of the gold and copper producer’s stock worth $28,000 after buying an additional 935 shares in the last quarter. Crewe Advisors LLC boosted its holdings 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 in the last quarter. Jackson Grant Investment Advisers Inc. purchased a new stake in Barrick Gold during the second quarter worth $32,000. Finally, Eastern Bank purchased a new stake in Barrick Gold during the third quarter worth $32,000. 62.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GOLD has been the topic of a number of recent analyst reports. UBS Group downgraded shares of Barrick Gold from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $23.00 to $22.00 in a report on Wednesday, October 30th. Argus upgraded shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Thursday, August 29th. TD Securities reduced their price objective on shares of Barrick Gold from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Scotiabank reduced their price objective on shares of Barrick Gold from $25.00 to $24.00 and set a “sector outperform” rating for the company in a research report on Friday, November 8th. Finally, 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. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $23.90.

Barrick Gold Price Performance

Shares of NYSE GOLD opened at $17.90 on Thursday. The firm has a 50-day simple moving average of $19.58 and a 200-day simple moving average of $18.50. The stock has a market capitalization of $31.29 billion, a price-to-earnings ratio of 19.25, a price-to-earnings-growth ratio of 0.39 and a beta of 0.56. The company has a quick ratio of 2.06, a current ratio of 2.65 and a debt-to-equity ratio of 0.14. Barrick Gold Corp has a 52 week low of $13.76 and a 52 week high of $21.35.

Barrick Gold Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend is Friday, November 29th. Barrick Gold’s dividend payout ratio (DPR) 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.