Dynamic Technology Lab Private Ltd Invests $1.73 Million in Barrick Gold Corp (NYSE:GOLD)

Dynamic Technology Lab Private Ltd acquired a new position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) in the 3rd quarter, HoldingsChannel.com reports. The firm acquired 86,783 shares of the gold and copper producer’s stock, valued at approximately $1,726,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of GOLD. Daiwa Securities Group Inc. purchased a new stake in shares of Barrick Gold during the 3rd quarter valued at $477,000. Cerity Partners LLC increased its position in Barrick Gold by 120.3% during the 3rd quarter. Cerity Partners LLC now owns 93,622 shares of the gold and copper producer’s stock valued at $1,862,000 after buying an additional 51,117 shares in the last quarter. Meridian Wealth Management LLC purchased a new stake in Barrick Gold in the third quarter valued at about $298,000. Raymond James Trust N.A. raised its stake in Barrick Gold by 22.0% in the third quarter. Raymond James Trust N.A. now owns 21,699 shares of the gold and copper producer’s stock valued at $432,000 after buying an additional 3,917 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Barrick Gold by 5.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,945,514 shares of the gold and copper producer’s stock worth $98,469,000 after acquiring an additional 244,057 shares in the last quarter. Hedge funds and other institutional investors own 62.85% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on GOLD. TD Securities cut their price objective on shares of Barrick Gold from $27.00 to $26.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Jefferies Financial Group upped their price target on shares of Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, September 13th. Scotiabank dropped their target price on Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating on the stock in a research report on Monday. UBS Group cut Barrick Gold from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $23.00 to $22.00 in a report on Wednesday, October 30th. Finally, CIBC cut shares of Barrick Gold from a “sector outperform” rating to a “neutral” rating in a report on Monday. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.70.

Barrick Gold Price Performance

NYSE:GOLD opened at $17.69 on Tuesday. The stock has a 50 day moving average price of $19.42 and a 200 day moving average price of $18.53. The stock has a market cap of $30.92 billion, a PE ratio of 19.02, a P/E/G ratio of 0.43 and a beta of 0.56. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.06 and a current ratio of 2.65. Barrick Gold Corp has a one year low of $13.76 and a one year high of $21.35.

Barrick Gold Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.40 annualized dividend and a dividend yield of 2.26%. 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.