Blue Trust Inc. Has $528,000 Stock Holdings in Barrick Gold Corp (NYSE:GOLD)

Blue Trust Inc. decreased its position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 12.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,040 shares of the gold and copper producer’s stock after selling 5,057 shares during the quarter. Blue Trust Inc.’s holdings in Barrick Gold were worth $528,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Barrick Gold by 221.1% during the third 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 purchasing an additional 6,904,934 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Barrick Gold by 33.3% during the 3rd 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 buying an additional 2,854,055 shares during the period. Wellington Management Group LLP lifted 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 acquiring an additional 1,458,084 shares in the last quarter. Systrade AG acquired a new position in Barrick Gold in the third quarter valued at about $28,094,000. Finally, Quadrature Capital Ltd bought a new stake in shares of Barrick Gold in the third quarter worth about $20,379,000. Institutional investors and hedge funds own 62.85% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on GOLD. Cibc World Mkts lowered Barrick Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 25th. Bank of America downgraded shares of Barrick Gold from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $21.00 to $18.00 in a research report on Monday. TD Securities cut their price objective on shares of Barrick Gold from $26.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. Citigroup lowered their target price on Barrick Gold from $23.00 to $17.00 and set a “neutral” rating for the company in a report on Friday, December 20th. Finally, CIBC downgraded Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research note on Monday, November 25th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $23.92.

Barrick Gold Stock Up 3.8 %

NYSE:GOLD opened at $16.56 on Friday. Barrick Gold Corp has a twelve month low of $13.76 and a twelve month high of $21.35. The firm has a market capitalization of $28.60 billion, a price-to-earnings ratio of 17.81, a price-to-earnings-growth ratio of 0.30 and a beta of 0.54. The company has a quick ratio of 2.06, a current ratio of 2.65 and a debt-to-equity ratio of 0.14. The stock’s 50 day moving average price is $16.32 and its two-hundred day moving average price is $18.26.

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 paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend was Friday, November 29th. Barrick Gold’s dividend payout ratio is currently 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.