Zurcher Kantonalbank Zurich Cantonalbank Trims Stake in Barrick Gold Corp (NYSE:GOLD)

Zurcher Kantonalbank Zurich Cantonalbank decreased its position in shares of Barrick Gold Corp (NYSE:GOLD – Get Rating) (TSE:ABX) by 2.5% during the second quarter, according to its most recent filing with the SEC. The firm owned 717,613 shares of the gold and copper producer’s stock after selling 18,390 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Barrick Gold were worth $12,662,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Clarius Group LLC purchased a new stake in shares of Barrick Gold in the 2nd quarter worth approximately $236,000. SeaCrest Wealth Management LLC purchased a new stake in shares of Barrick Gold in the 2nd quarter worth approximately $81,000. Leavell Investment Management Inc. grew its stake in shares of Barrick Gold by 11.2% in the 2nd quarter. Leavell Investment Management Inc. now owns 11,883 shares of the gold and copper producer’s stock worth $210,000 after buying an additional 1,200 shares during the last quarter. Stansberry Asset Management LLC lifted its position in Barrick Gold by 4.5% in the 1st quarter. Stansberry Asset Management LLC now owns 717,982 shares of the gold and copper producer’s stock valued at $17,612,000 after acquiring an additional 30,751 shares in the last quarter. Finally, Oppenheimer & Co. Inc. lifted its position in Barrick Gold by 25.2% in the 1st quarter. Oppenheimer & Co. Inc. now owns 182,142 shares of the gold and copper producer’s stock valued at $4,468,000 after acquiring an additional 36,711 shares in the last quarter. Hedge funds and other institutional investors own 58.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on GOLD shares. Royal Bank of Canada lowered their price objective on Barrick Gold from $27.00 to $20.00 and set an “outperform” rating on the stock in a research report on Monday, November 21st. The Goldman Sachs Group started coverage on Barrick Gold in a research report on Monday, September 12th. They issued a “neutral” rating and a $18.00 price objective on the stock. BMO Capital Markets upped their price objective on Barrick Gold from $27.00 to $28.00 and gave the company an “outperform” rating in a research report on Tuesday, August 9th. National Bank Financial upped their price objective on Barrick Gold from C$24.00 to C$25.00 in a research report on Tuesday. Finally, Fundamental Research reaffirmed a “buy” rating and issued a $19.90 price objective (down from $23.42) on shares of Barrick Gold in a research report on Tuesday, November 15th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $23.49.

Barrick Gold Price Performance

NYSE GOLD opened at $16.32 on Thursday. The business’s fifty day moving average price is $15.26 and its 200-day moving average price is $16.68. The stock has a market capitalization of $28.75 billion, a price-to-earnings ratio of 15.25, a PEG ratio of 9.77 and a beta of 0.27. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.76 and a quick ratio of 2.98. Barrick Gold Corp has a 1-year low of $13.01 and a 1-year high of $26.07.

Barrick Gold Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Wednesday, November 30th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $0.44 dividend on an annualized basis and a yield of 2.70%. Barrick Gold’s dividend payout ratio is currently 37.38%.

Barrick Gold Company Profile

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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.