Larson Financial Group LLC Lowers Position in Barrick Gold Corp (NYSE:GOLD)

Larson Financial Group LLC cut its stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 17.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,151 shares of the gold and copper producer’s stock after selling 3,065 shares during the period. Larson Financial Group LLC’s holdings in Barrick Gold were worth $281,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Cerity Partners LLC lifted its holdings in shares of Barrick Gold by 120.3% during the third quarter. Cerity Partners LLC now owns 93,622 shares of the gold and copper producer’s stock valued at $1,862,000 after purchasing an additional 51,117 shares during the last quarter. Meridian Wealth Management LLC purchased a new position in shares of Barrick Gold during the third quarter valued at approximately $298,000. Raymond James Trust N.A. lifted its holdings in shares of Barrick Gold by 22.0% during 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 purchasing an additional 3,917 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Barrick Gold by 5.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,945,514 shares of the gold and copper producer’s stock valued at $98,469,000 after purchasing an additional 244,057 shares during the last quarter. Finally, Moors & Cabot Inc. lifted its holdings in shares of Barrick Gold by 0.9% during the third quarter. Moors & Cabot Inc. now owns 64,085 shares of the gold and copper producer’s stock valued at $1,275,000 after purchasing an additional 579 shares during the last quarter. 62.85% of the stock is currently owned by hedge funds and other institutional investors.

Barrick Gold Trading Up 0.1 %

NYSE:GOLD opened at $17.58 on Thursday. The company has a current ratio of 2.65, a quick ratio of 2.06 and a debt-to-equity ratio of 0.14. Barrick Gold Corp has a 12 month low of $13.76 and a 12 month high of $21.35. The company has a market cap of $30.73 billion, a PE ratio of 18.90, a price-to-earnings-growth ratio of 0.42 and a beta of 0.56. The company has a 50 day simple moving average of $19.31 and a two-hundred day simple moving average of $18.53.

Barrick Gold Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date is Friday, November 29th. Barrick Gold’s dividend payout ratio (DPR) is presently 43.01%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Scotiabank lowered their target price 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. CIBC lowered shares of Barrick Gold from a “sector outperform” rating to a “neutral” rating in a report on Monday. Jefferies Financial Group raised their price target on shares of Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, September 13th. TD Securities reduced their price target on shares of Barrick Gold from $26.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, UBS Group downgraded shares of Barrick Gold from a “buy” rating to a “neutral” rating and reduced their price target for the company from $23.00 to $22.00 in a research report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Barrick Gold has a consensus rating of “Moderate Buy” and a consensus price target of $24.91.

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.