Baader Bank Aktiengesellschaft Purchases Shares of 22,643 Barrick Gold Corp (NYSE:GOLD)

Baader Bank Aktiengesellschaft acquired a new position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) during the 4th quarter, Holdings Channel.com reports. The fund acquired 22,643 shares of the gold and copper producer’s stock, valued at approximately $344,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Principal Financial Group Inc. increased its holdings in Barrick Gold by 19.9% in the 3rd quarter. Principal Financial Group Inc. now owns 483,613 shares of the gold and copper producer’s stock valued at $9,630,000 after buying an additional 80,366 shares during the period. Mizuho Markets Americas LLC increased its stake in Barrick Gold by 21.7% in the third quarter. Mizuho Markets Americas LLC now owns 2,317,580 shares of the gold and copper producer’s stock valued at $46,097,000 after acquiring an additional 413,012 shares during the period. Entropy Technologies LP acquired a new position in Barrick Gold in the third quarter worth about $3,711,000. Aigen Investment Management LP lifted its stake in Barrick Gold by 330.5% during the third quarter. Aigen Investment Management LP now owns 99,240 shares of the gold and copper producer’s stock worth $1,974,000 after purchasing an additional 76,186 shares during the period. Finally, Crocodile Capital Partners GmbH boosted its holdings in Barrick Gold by 97.3% during the fourth quarter. Crocodile Capital Partners GmbH now owns 1,460,000 shares of the gold and copper producer’s stock valued at $22,630,000 after purchasing an additional 720,000 shares in the last quarter. 62.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GOLD. Berenberg Bank increased their target price on Barrick Gold from $37.00 to $38.00 in a report on Tuesday, November 26th. CIBC cut Barrick Gold from a “sector outperform” rating to a “neutral” rating in a report on Monday, November 25th. Bank of America lowered shares of Barrick Gold from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $21.00 to $18.00 in a report on Monday. UBS Group downgraded shares of Barrick Gold from a “buy” rating to a “neutral” rating and cut their price target for the company from $23.00 to $22.00 in a report on Wednesday, October 30th. Finally, Scotiabank cut shares of Barrick Gold from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $23.00 to $19.00 in a research note on Thursday. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Barrick Gold currently has an average rating of “Moderate Buy” and a consensus target price of $23.92.

Barrick Gold Stock Up 3.8 %

NYSE:GOLD opened at $16.56 on Friday. The company has a market cap of $28.60 billion, a price-to-earnings ratio of 17.81, a P/E/G ratio of 0.30 and a beta of 0.54. 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 stock’s fifty day moving average price is $16.32 and its two-hundred day moving average price is $18.26. Barrick Gold Corp has a 52-week low of $13.76 and a 52-week high of $21.35.

Barrick Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.42%. The ex-dividend date of this dividend was Friday, November 29th. Barrick Gold’s dividend payout ratio is 43.01%.

Barrick Gold Company 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.