SouthState Corp Acquires 10,108 Shares of Barrick Gold Corp (NYSE:GOLD)

SouthState Corp boosted its holdings in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 2.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 468,444 shares of the gold and copper producer’s stock after purchasing an additional 10,108 shares during the quarter. SouthState Corp’s holdings in Barrick Gold were worth $9,317,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in GOLD. Exchange Traded Concepts LLC increased its stake in Barrick Gold by 198.1% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,407 shares of the gold and copper producer’s stock worth $28,000 after acquiring an additional 935 shares during the last quarter. Clean Yield Group bought a new stake in Barrick Gold in the first quarter worth $25,000. Eastern Bank purchased a new stake in Barrick Gold during the third quarter valued at $32,000. Crewe Advisors LLC raised its stake 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 valued at $30,000 after purchasing an additional 1,572 shares in the last quarter. Finally, JFS Wealth Advisors LLC lifted its position in Barrick Gold by 451.7% during the third quarter. JFS Wealth Advisors LLC now owns 1,909 shares of the gold and copper producer’s stock valued at $38,000 after purchasing an additional 1,563 shares during the last quarter. 62.85% of the stock is owned by hedge funds and other institutional investors.

Barrick Gold Trading Up 3.4 %

Shares of GOLD opened at $17.21 on Tuesday. The firm has a market capitalization of $30.08 billion, a price-to-earnings ratio of 18.51, a PEG ratio of 0.39 and a beta of 0.56. 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 Corp has a 1-year low of $13.76 and a 1-year high of $21.35. The company has a 50-day moving average of $19.65 and a 200 day moving average of $18.49.

Barrick Gold Announces Dividend

The company also recently announced 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. This represents a $0.40 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend is Friday, November 29th. Barrick Gold’s dividend payout ratio (DPR) is presently 43.01%.

Analysts Set New Price Targets

GOLD has been the topic of several recent research reports. Jefferies Financial Group upped their target price on shares of Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, September 13th. TD Securities decreased their price objective on Barrick Gold from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Argus upgraded Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a report on Thursday, August 29th. Scotiabank cut their target price on Barrick Gold from $25.00 to $24.00 and set a “sector outperform” rating on the stock in a research report on Friday, November 8th. Finally, Royal Bank of Canada lifted their price objective on shares of Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Barrick Gold has a consensus rating of “Moderate Buy” and an average price target of $23.90.

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.