Pacifica Partners Inc. Trims Stake in Barrick Gold Corp (NYSE:GOLD)

Pacifica Partners Inc. lessened its holdings in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 0.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 185,034 shares of the gold and copper producer’s stock after selling 1,440 shares during the period. Barrick Gold makes up 1.3% of Pacifica Partners Inc.’s investment portfolio, making the stock its 27th largest position. Pacifica Partners Inc.’s holdings in Barrick Gold were worth $2,944,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. American Century Companies Inc. lifted its stake in Barrick Gold by 3.4% during the second quarter. American Century Companies Inc. now owns 1,939,502 shares of the gold and copper producer’s stock worth $32,351,000 after purchasing an additional 63,144 shares in the last quarter. Rathbones Group PLC lifted its stake in Barrick Gold by 16.6% during the 2nd quarter. Rathbones Group PLC now owns 152,937 shares of the gold and copper producer’s stock worth $2,551,000 after acquiring an additional 21,790 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Barrick Gold by 16.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,471,407 shares of the gold and copper producer’s stock valued at $124,635,000 after acquiring an additional 1,057,886 shares during the period. Moors & Cabot Inc. grew its position in Barrick Gold by 11.6% in the 2nd quarter. Moors & Cabot Inc. now owns 63,506 shares of the gold and copper producer’s stock valued at $1,059,000 after acquiring an additional 6,605 shares in the last quarter. Finally, Plancorp LLC increased its stake in Barrick Gold by 23.8% during the second quarter. Plancorp LLC now owns 273,027 shares of the gold and copper producer’s stock worth $4,554,000 after purchasing an additional 52,434 shares during the period. 62.85% of the stock is currently owned by hedge funds and other institutional investors.

Barrick Gold Stock Up 0.7 %

Shares of NYSE:GOLD opened at $15.56 on Wednesday. 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 firm has a 50 day simple moving average of $16.68 and a 200-day simple moving average of $18.39. The company has a market capitalization of $27.09 billion, a PE ratio of 16.73, a P/E/G ratio of 0.47 and a beta of 0.54. Barrick Gold Corp has a twelve month low of $13.76 and a twelve month high of $21.35.

Barrick Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were paid a $0.10 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.40 annualized dividend and a yield of 2.57%. Barrick Gold’s dividend payout ratio is presently 43.01%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Raymond James lowered their price objective on shares of Barrick Gold from $26.00 to $25.00 and set an “outperform” rating for the company in a research note on Monday, November 25th. Scotiabank decreased their price target on shares of Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating for the company in a research report on Monday, November 25th. UBS Group lowered Barrick Gold from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $23.00 to $22.00 in a research report on Wednesday, October 30th. CIBC lowered Barrick Gold from a “sector outperform” rating to a “neutral” rating in a report on Monday, November 25th. Finally, Berenberg Bank boosted their target price on Barrick Gold from $37.00 to $38.00 in a research note on Tuesday, November 26th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $24.82.

Barrick Gold Company 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.