Bard Financial Services Inc. Lowers Stock Position in Barrick Gold Corp (NYSE:GOLD)

Bard Financial Services Inc. decreased its holdings in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 6.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,125 shares of the gold and copper producer’s stock after selling 3,750 shares during the quarter. Bard Financial Services Inc.’s holdings in Barrick Gold were worth $808,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. grew its position in 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 valued at $199,427,000 after buying an additional 6,904,934 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of Barrick Gold by 4,713.3% in 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 acquiring an additional 4,058,351 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Barrick Gold by 33.3% during the third quarter. The Manufacturers Life Insurance Company now owns 11,431,497 shares of the gold and copper producer’s stock worth $227,524,000 after acquiring an additional 2,854,055 shares during the period. Wellington Management Group LLP raised its holdings in Barrick Gold by 2.7% during the third quarter. Wellington Management Group LLP now owns 54,712,508 shares of the gold and copper producer’s stock worth $1,088,484,000 after purchasing an additional 1,458,084 shares in the last quarter. Finally, Sound Shore Management Inc. CT lifted its position in Barrick Gold by 48.2% in the second quarter. Sound Shore Management Inc. CT now owns 4,455,551 shares of the gold and copper producer’s stock valued at $74,319,000 after purchasing an additional 1,449,862 shares during the period. Institutional investors and hedge funds own 62.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GOLD. CIBC downgraded Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research note on Monday, November 25th. TD Securities cut their price target on shares of Barrick Gold from $26.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. Jefferies Financial Group upped their target price on shares of Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Scotiabank reduced their price objective on Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating for the company in a report on Monday, November 25th. Finally, UBS Group lowered shares of Barrick Gold from a “buy” rating to a “neutral” rating and decreased their price objective for the stock 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 company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $24.82.

Barrick Gold Trading Down 1.5 %

NYSE:GOLD traded down $0.23 during trading hours on Monday, reaching $15.61. 7,655,468 shares of the company were exchanged, compared to its average volume of 10,415,716. Barrick Gold Corp has a 52-week low of $13.76 and a 52-week high of $21.35. The stock has a 50 day simple moving average of $17.22 and a 200 day simple moving average of $18.44. The firm has a market cap of $27.18 billion, a price-to-earnings ratio of 16.78, a PEG ratio of 0.47 and a beta of 0.54. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date of this dividend was Friday, November 29th. Barrick Gold’s dividend payout ratio (DPR) is presently 43.01%.

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.