Empowered Funds LLC Has $3.55 Million Stock Position in Barrick Gold Corp (NYSE:GOLD)

Empowered Funds LLC increased its stake in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 3.0% in the third quarter, Holdings Channel reports. The firm owned 178,615 shares of the gold and copper producer’s stock after buying an additional 5,166 shares during the quarter. Empowered Funds LLC’s holdings in Barrick Gold were worth $3,553,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. DCF Advisers LLC grew its position in shares of Barrick Gold by 48.3% during the 2nd quarter. DCF Advisers LLC now owns 107,500 shares of the gold and copper producer’s stock worth $1,793,000 after buying an additional 35,000 shares during the period. Entropy Technologies LP bought a new position in Barrick Gold during the 3rd quarter worth approximately $3,711,000. Aigen Investment Management LP grew its holdings 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 valued at $1,974,000 after purchasing an additional 76,186 shares during the period. Evexia Wealth LLC bought a new stake in Barrick Gold in the third quarter valued at approximately $2,382,000. Finally, 1832 Asset Management L.P. raised its holdings in Barrick Gold by 3.6% in the first quarter. 1832 Asset Management L.P. now owns 1,089,855 shares of the gold and copper producer’s stock worth $18,135,000 after purchasing an additional 38,100 shares during the period. Institutional investors own 62.85% of the company’s stock.

Barrick Gold Trading Up 3.4 %

Shares of NYSE:GOLD opened at $17.21 on Tuesday. The stock has a market capitalization of $30.08 billion, a PE ratio of 18.51, a price-to-earnings-growth ratio of 0.39 and a beta of 0.56. The company’s 50-day moving average price is $19.65 and its two-hundred day moving average price is $18.49. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.65 and a quick ratio of 2.06. Barrick Gold Corp has a one year low of $13.76 and a one year high of $21.35.

Barrick Gold Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a $0.10 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a yield of 2.32%. Barrick Gold’s dividend payout ratio is 43.01%.

Analyst Upgrades and Downgrades

GOLD has been the subject of several research analyst reports. Raymond James lowered their price objective on shares of Barrick Gold from $26.50 to $26.00 and set an “outperform” rating for the company in a research report on Thursday, September 26th. Argus upgraded Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a report on Thursday, August 29th. Jefferies Financial Group lifted their price objective on Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a report on Friday, September 13th. TD Securities lowered their target price on Barrick Gold from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Finally, Scotiabank reduced their price target on shares of Barrick Gold from $25.00 to $24.00 and set a “sector outperform” rating for the company in a report on Friday, November 8th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.90.

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.