Oak Asset Management LLC Buys 9,000 Shares of Barrick Gold Corp (NYSE:GOLD)

Oak Asset Management LLC boosted its stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 60.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,850 shares of the gold and copper producer’s stock after purchasing an additional 9,000 shares during the period. Oak Asset Management LLC’s holdings in Barrick Gold were worth $370,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Exchange Traded Concepts LLC increased its stake in shares of Barrick Gold by 198.1% in the third quarter. Exchange Traded Concepts LLC now owns 1,407 shares of the gold and copper producer’s stock valued at $28,000 after buying an additional 935 shares during the period. Eastern Bank acquired a new position in Barrick Gold in the 3rd quarter valued at approximately $32,000. JFS Wealth Advisors LLC raised its stake 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 during the last quarter. AlphaMark Advisors LLC bought a new stake in shares of Barrick Gold in the third quarter worth $60,000. Finally, BNP Paribas increased 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 valued at $62,000 after purchasing an additional 2,113 shares during the period. Institutional investors and hedge funds own 62.85% of the company’s stock.

Barrick Gold Stock Performance

Shares of GOLD opened at $15.46 on Tuesday. The stock has a 50-day moving average of $16.74 and a 200-day moving average of $18.40. Barrick Gold Corp has a one year low of $13.76 and a one 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. The company has a market cap of $26.92 billion, a PE ratio of 16.62, a P/E/G ratio of 0.47 and a beta of 0.54.

Barrick Gold Dividend Announcement

The company also recently announced 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 2.59%. The ex-dividend date was Friday, November 29th. Barrick Gold’s payout ratio is 43.01%.

Wall Street Analyst Weigh In

A number of research firms have commented on GOLD. Berenberg Bank upped their price target on Barrick Gold from $37.00 to $38.00 in a research report on Tuesday, November 26th. Citigroup reduced their target price on 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 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 report on Monday, November 25th. TD Securities reduced their price objective on shares of Barrick Gold from $26.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. Finally, UBS Group downgraded shares of Barrick Gold from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $23.00 to $22.00 in a research note on Wednesday, October 30th. Four investment 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 company currently has an average 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.