Barrick Gold Corp (NYSE:GOLD) Shares Sold by Stifel Financial Corp

Stifel Financial Corp reduced its stake in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 4.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 421,764 shares of the gold and copper producer’s stock after selling 19,673 shares during the quarter. Stifel Financial Corp’s holdings in Barrick Gold were worth $8,389,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in GOLD. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Barrick Gold by 221.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,027,811 shares of the gold and copper producer’s stock worth $199,427,000 after acquiring an additional 6,904,934 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Barrick Gold by 4,713.3% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,144,456 shares of the gold and copper producer’s stock worth $69,141,000 after buying an additional 4,058,351 shares during the last quarter. Letko Brosseau & Associates Inc. purchased a new stake in shares of Barrick Gold in the 2nd quarter worth about $66,820,000. The Manufacturers Life Insurance Company grew its stake in Barrick Gold by 33.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 11,431,497 shares of the gold and copper producer’s stock valued at $227,524,000 after acquiring an additional 2,854,055 shares during the last quarter. Finally, Mizuho Markets Americas LLC acquired a new position in Barrick Gold during the second quarter worth about $31,768,000. 62.85% of the stock is owned by hedge funds and other institutional investors.

Barrick Gold Price Performance

Shares of Barrick Gold stock opened at $17.17 on Friday. The stock has a market capitalization of $30.01 billion, a P/E ratio of 18.46, a PEG ratio of 0.46 and a beta of 0.53. The company has a current ratio of 2.65, a quick ratio of 2.06 and a debt-to-equity ratio of 0.14. The business’s fifty day moving average price is $18.70 and its 200 day moving average price is $18.53. Barrick Gold Corp has a twelve month low of $13.76 and a twelve month high of $21.35.

Barrick Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a $0.10 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.40 annualized dividend and a yield of 2.33%. Barrick Gold’s payout ratio is 43.01%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on GOLD. Royal Bank of Canada raised their price objective on shares of Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. TD Securities dropped their price target on Barrick Gold from $26.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th. Scotiabank reduced their price objective on Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating on the stock in a research report on Monday, November 25th. Cibc World Mkts cut Barrick Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 25th. Finally, Argus upgraded shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a report on Thursday, August 29th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $25.60.

Barrick Gold 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.