Gemsstock Ltd. Purchases 518,900 Shares of Barrick Gold Corp (NYSE:GOLD)

Gemsstock Ltd. boosted its position in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 69.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 1,269,600 shares of the gold and copper producer’s stock after purchasing an additional 518,900 shares during the period. Barrick Gold comprises 12.2% of Gemsstock Ltd.’s holdings, making the stock its 3rd largest position. Gemsstock Ltd. owned about 0.07% of Barrick Gold worth $25,252,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of GOLD. Kingsview Wealth Management LLC bought a new position in Barrick Gold during the first quarter worth $190,000. Orion Portfolio Solutions LLC lifted its stake in shares of Barrick Gold by 6.0% during the 1st quarter. Orion Portfolio Solutions LLC now owns 82,133 shares of the gold and copper producer’s stock worth $1,367,000 after buying an additional 4,652 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Barrick Gold by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 64,761,067 shares of the gold and copper producer’s stock worth $1,077,624,000 after buying an additional 1,089,572 shares during the period. Acadian Asset Management LLC grew its stake in Barrick Gold by 262.6% in the 1st quarter. Acadian Asset Management LLC now owns 47,500 shares of the gold and copper producer’s stock valued at $789,000 after buying an additional 34,400 shares during the last quarter. Finally, Seven Eight Capital LP bought a new position in Barrick Gold in the 1st quarter valued at about $652,000. Institutional investors own 62.85% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on GOLD shares. Raymond James decreased their target price on Barrick Gold from $26.50 to $26.00 and set an “outperform” rating on the stock in a research report on Thursday, September 26th. Royal Bank of Canada upped their price objective on Barrick Gold from $21.00 to $22.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. TD Securities dropped their target price on Barrick Gold from $27.00 to $26.00 and set a “buy” rating for the company in a report on Friday, November 8th. Scotiabank reduced their target price 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. Finally, Jefferies Financial Group raised their price target on shares of Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Barrick Gold currently has an average rating of “Moderate Buy” and an average price target of $23.90.

Barrick Gold Stock Up 3.1 %

Shares of NYSE:GOLD opened at $17.73 on Wednesday. Barrick Gold Corp has a 52-week low of $13.76 and a 52-week high of $21.35. The company has a market capitalization of $30.99 billion, a PE ratio of 19.06, a price-to-earnings-growth ratio of 0.39 and a beta of 0.56. 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 company has a fifty day moving average of $19.61 and a 200-day moving average of $18.50.

Barrick Gold Dividend Announcement

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 $0.10 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.40 annualized dividend and a yield of 2.26%. Barrick Gold’s dividend payout ratio is presently 43.01%.

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.