Barrick Gold Corp (NYSE:GOLD) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank trimmed its position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 1.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 500,898 shares of the gold and copper producer’s stock after selling 8,242 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Barrick Gold were worth $9,974,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC grew its holdings in shares of 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 buying an additional 935 shares in the last quarter. Crewe Advisors LLC grew its stake in Barrick Gold by 628.8% during the 2nd quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer’s stock valued at $30,000 after acquiring an additional 1,572 shares in the last quarter. Jackson Grant Investment Advisers Inc. acquired a new stake in Barrick Gold in the 2nd quarter valued at about $32,000. Eastern Bank purchased a new position in Barrick Gold in the 3rd quarter worth approximately $32,000. Finally, JFS Wealth Advisors LLC boosted its holdings in shares of Barrick Gold by 451.7% during the 3rd quarter. JFS Wealth Advisors LLC now owns 1,909 shares of the gold and copper producer’s stock worth $38,000 after purchasing an additional 1,563 shares during the last quarter. 62.85% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. UBS Group downgraded Barrick Gold from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $23.00 to $22.00 in a research report on Wednesday, October 30th. Scotiabank reduced their price target on Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating on the stock in a report on Monday, November 25th. Raymond James dropped their price objective on shares of Barrick Gold from $26.00 to $25.00 and set an “outperform” rating for the company in a report on Monday, November 25th. TD Securities reduced their target price on shares of Barrick Gold from $26.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. Finally, CIBC lowered shares of Barrick Gold from a “sector outperform” rating to a “neutral” rating in a report on Monday, November 25th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $25.60.

Barrick Gold Price Performance

Shares of GOLD opened at $17.49 on Monday. The firm has a 50-day simple moving average of $19.20 and a two-hundred day simple moving average of $18.55. 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 stock has a market cap of $30.57 billion, a PE ratio of 18.81, a P/E/G ratio of 0.48 and a beta of 0.56.

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. This represents a $0.40 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date of this dividend is Friday, November 29th. Barrick Gold’s payout ratio is 43.01%.

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.