Union Bancaire Privee UBP SA Makes New Investment in Barrick Gold Corp (NYSE:GOLD)

Union Bancaire Privee UBP SA acquired a new position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 33,124 shares of the gold and copper producer’s stock, valued at approximately $499,000.

Other large investors also recently modified their holdings of the company. Exchange Traded Concepts LLC boosted its stake in shares of Barrick Gold by 198.1% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,407 shares of the gold and copper producer’s stock worth $28,000 after buying an additional 935 shares during the last quarter. Eastern Bank acquired a new stake in Barrick Gold in the 3rd quarter valued at about $32,000. JFS Wealth Advisors LLC lifted its stake in Barrick Gold by 451.7% in the 3rd quarter. JFS Wealth Advisors LLC now owns 1,909 shares of the gold and copper producer’s stock valued at $38,000 after purchasing an additional 1,563 shares during the last quarter. AlphaMark Advisors LLC acquired a new stake in Barrick Gold in the 3rd quarter valued at about $60,000. Finally, BNP Paribas lifted its stake in Barrick Gold by 221.7% in the 3rd 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 last quarter. 62.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Cibc World Mkts downgraded shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 25th. UBS Group downgraded shares of Barrick Gold from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $23.00 to $22.00 in a research report on Wednesday, October 30th. Bank of America downgraded shares of Barrick Gold from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $21.00 to $18.00 in a research report on Monday. CIBC downgraded shares of Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research report on Monday, November 25th. Finally, Scotiabank downgraded shares of Barrick Gold from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the stock from $23.00 to $19.00 in a research report on Tuesday, January 21st. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $23.92.

Barrick Gold Stock Down 0.7 %

Shares of GOLD opened at $15.95 on Wednesday. Barrick Gold Corp has a 12 month low of $13.76 and a 12 month high of $21.35. The firm’s 50 day moving average is $16.40 and its 200-day moving average is $18.30. The stock has a market capitalization of $27.55 billion, a PE ratio of 17.15, a P/E/G ratio of 0.30 and a beta of 0.54. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were paid a $0.10 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a yield of 2.51%. Barrick Gold’s dividend payout ratio (DPR) is 43.01%.

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.