Mizuho Markets Americas LLC Increases Stock Position in Barrick Gold Corp (NYSE:GOLD)

Mizuho Markets Americas LLC lifted its position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 21.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 2,317,580 shares of the gold and copper producer’s stock after buying an additional 413,012 shares during the period. Barrick Gold accounts for approximately 1.0% of Mizuho Markets Americas LLC’s portfolio, making the stock its 24th largest holding. Mizuho Markets Americas LLC owned approximately 0.13% of Barrick Gold worth $46,097,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Clean Yield Group purchased a new position in shares of Barrick Gold during the first quarter valued at approximately $25,000. Exchange Traded Concepts LLC increased its position in Barrick Gold by 198.1% during the third quarter. Exchange Traded Concepts LLC now owns 1,407 shares of the gold and copper producer’s stock worth $28,000 after purchasing an additional 935 shares during the last quarter. Crewe Advisors LLC increased its position in Barrick Gold by 628.8% during the second quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer’s stock worth $30,000 after purchasing an additional 1,572 shares during the last quarter. Jackson Grant Investment Advisers Inc. acquired a new position in Barrick Gold during the second quarter worth approximately $32,000. Finally, Eastern Bank acquired a new position in Barrick Gold during the third quarter worth approximately $32,000. Hedge funds and other institutional investors own 62.85% of the company’s stock.

Barrick Gold Trading Down 1.2 %

NYSE:GOLD opened at $16.64 on Friday. The stock has a market cap 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 Corp has a one year low of $13.76 and a one year high of $21.35. 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 business’s 50-day simple moving average is $19.69 and its 200 day simple moving average is $18.46.

Barrick Gold Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages recently commented on GOLD. UBS Group lowered shares of Barrick Gold from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $23.00 to $22.00 in a research report on Wednesday, October 30th. TD Securities dropped their price target on shares of Barrick Gold from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Scotiabank dropped their price target on shares of Barrick Gold from $25.00 to $24.00 and set a “sector outperform” rating for the company in a research report on Friday, November 8th. Royal Bank of Canada increased their price objective on shares of Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Finally, Raymond James dropped their price objective on shares of Barrick Gold from $26.50 to $26.00 and set an “outperform” rating for the company in a research report on Thursday, September 26th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $23.90.

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.