Barrick Gold Corp (NYSE:GOLD) Position Reduced by ING Groep NV

ING Groep NV lessened its stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 2.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 257,290 shares of the gold and copper producer’s stock after selling 5,487 shares during the quarter. ING Groep NV’s holdings in Barrick Gold were worth $5,117,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Sei Investments Co. lifted its holdings in Barrick Gold by 9.5% during the 1st quarter. Sei Investments Co. now owns 685,876 shares of the gold and copper producer’s stock worth $11,413,000 after buying an additional 59,456 shares during the last quarter. Bleakley Financial Group LLC boosted its holdings in Barrick Gold by 10.3% in the first quarter. Bleakley Financial Group LLC now owns 24,121 shares of the gold and copper producer’s stock worth $401,000 after purchasing an additional 2,245 shares during the period. Kingsview Wealth Management LLC bought a new stake in Barrick Gold during the first quarter valued at $190,000. Orion Portfolio Solutions LLC raised its holdings in shares of Barrick Gold by 6.0% during the first quarter. Orion Portfolio Solutions LLC now owns 82,133 shares of the gold and copper producer’s stock worth $1,367,000 after purchasing an additional 4,652 shares during the period. Finally, Banco Santander S.A. bought a new position in shares of Barrick Gold in the 1st quarter worth about $191,000. Institutional investors and hedge funds own 62.85% of the company’s stock.

Barrick Gold Price Performance

Shares of GOLD opened at $16.64 on Friday. Barrick Gold Corp has a one year low of $13.76 and a one year high of $21.35. The stock’s fifty day moving average is $19.74 and its 200-day moving average is $18.46. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.06 and a current ratio of 2.65. The firm has a market capitalization of $29.09 billion, a price-to-earnings ratio of 17.89, a price-to-earnings-growth ratio of 0.40 and a beta of 0.56.

Barrick Gold Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a dividend of $0.10 per share. The ex-dividend date is Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.40%. Barrick Gold’s dividend payout ratio (DPR) is 43.01%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on GOLD shares. UBS Group downgraded shares of Barrick Gold from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $23.00 to $22.00 in a research report on Wednesday, October 30th. Scotiabank lowered their target price on Barrick Gold from $25.00 to $24.00 and set a “sector outperform” rating for the company in a report on Friday, November 8th. Argus raised Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a report on Thursday, August 29th. Raymond James lowered their price objective on Barrick Gold from $26.50 to $26.00 and set an “outperform” rating for the company in a research note on Thursday, September 26th. Finally, Royal Bank of Canada raised their target price on Barrick Gold from $21.00 to $22.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $23.90.

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.