Legend Financial Advisors Inc. Purchases Shares of 45,143 Barrick Gold Corp (NYSE:GOLD)

Legend Financial Advisors Inc. acquired a new position in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 45,143 shares of the gold and copper producer’s stock, valued at approximately $700,000. Barrick Gold comprises about 0.5% of Legend Financial Advisors Inc.’s holdings, making the stock its 24th largest holding.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Wellington Management Group LLP raised its position in shares of Barrick Gold by 2.7% in the 3rd quarter. Wellington Management Group LLP now owns 54,712,508 shares of the gold and copper producer’s stock valued at $1,088,484,000 after purchasing an additional 1,458,084 shares during the last quarter. EdgePoint Investment Group Inc. raised its holdings in shares of Barrick Gold by 3.7% in the second quarter. EdgePoint Investment Group Inc. now owns 18,837,028 shares of the gold and copper producer’s stock worth $314,254,000 after buying an additional 666,214 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Barrick Gold by 33.3% during the third quarter. The Manufacturers Life Insurance Company now owns 11,431,497 shares of the gold and copper producer’s stock worth $227,524,000 after buying an additional 2,854,055 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Barrick Gold by 221.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,027,811 shares of the gold and copper producer’s stock valued at $199,427,000 after acquiring an additional 6,904,934 shares during the period. Finally, Geode Capital Management LLC raised its stake in Barrick Gold by 9.5% in the 3rd quarter. Geode Capital Management LLC now owns 8,047,255 shares of the gold and copper producer’s stock worth $162,140,000 after acquiring an additional 696,556 shares during the last quarter. Hedge funds and other institutional investors own 62.85% of the company’s stock.

Barrick Gold Price Performance

Barrick Gold stock traded up $0.06 during trading on Tuesday, reaching $15.56. The company had a trading volume of 18,911,933 shares, compared to its average volume of 13,998,637. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.06 and a current ratio of 2.65. The firm’s 50-day simple moving average is $17.13 and its 200 day simple moving average is $18.43. The firm has a market capitalization of $27.09 billion, a PE ratio of 16.73, a price-to-earnings-growth ratio of 0.47 and a beta of 0.54. Barrick Gold Corp has a 1-year low of $13.76 and a 1-year high of $21.35.

Barrick Gold Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were given a dividend of $0.10 per share. The ex-dividend date was Friday, November 29th. This represents a $0.40 annualized dividend and a dividend yield of 2.57%. Barrick Gold’s dividend payout ratio (DPR) is presently 43.01%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Raymond James cut their price objective on Barrick Gold from $26.00 to $25.00 and set an “outperform” rating on the stock in a report on Monday, November 25th. Scotiabank reduced their price target on shares of Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating for the company in a research report on Monday, November 25th. CIBC lowered shares of Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research note on Monday, November 25th. Berenberg Bank boosted their target price on shares of Barrick Gold from $37.00 to $38.00 in a research report on Tuesday, November 26th. Finally, Jefferies Financial Group increased their price target on Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.82.

Barrick Gold 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.