Legend Financial Advisors Inc. Makes New Investment in Barrick Gold Corp (NYSE:GOLD)

Legend Financial Advisors Inc. acquired a new stake in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) during the fourth quarter, according to its most recent disclosure with the SEC. The fund acquired 45,143 shares of the gold and copper producer’s stock, valued at approximately $700,000. Barrick Gold makes up about 0.5% of Legend Financial Advisors Inc.’s holdings, making the stock its 24th largest position.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC raised its position 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 valued at $28,000 after buying an additional 935 shares during the last quarter. Eastern Bank purchased a new stake in Barrick Gold in the 3rd quarter worth $32,000. 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 valued at $38,000 after purchasing an additional 1,563 shares during the last quarter. AlphaMark Advisors LLC bought a new stake in shares of Barrick Gold in the third quarter worth about $60,000. Finally, BNP Paribas lifted its position in shares of Barrick Gold by 221.7% in the third quarter. BNP Paribas now owns 3,066 shares of the gold and copper producer’s stock worth $62,000 after buying an additional 2,113 shares in the last quarter. 62.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on GOLD. Royal Bank of Canada increased their target price on Barrick Gold from $21.00 to $22.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. Jefferies Financial Group boosted their target price on shares of Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Friday, September 13th. Citigroup lowered their price target on shares of Barrick Gold from $23.00 to $17.00 and set a “neutral” rating for the company in a report on Friday, December 20th. CIBC cut Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research note on Monday, November 25th. Finally, Raymond James lowered their price objective on Barrick Gold from $26.00 to $25.00 and set an “outperform” rating for the company in a research note on Monday, November 25th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $24.82.

Barrick Gold Trading Up 0.4 %

Shares of Barrick Gold stock traded up $0.06 on Tuesday, hitting $15.56. 18,911,933 shares of the company traded hands, compared to its average volume of 13,998,637. Barrick Gold Corp has a 52 week low of $13.76 and a 52 week high of $21.35. The company has a market cap of $27.09 billion, a PE ratio of 16.73, a PEG ratio of 0.47 and a beta of 0.54. The stock’s 50 day moving average price is $17.13 and its 200-day moving average price is $18.43. The company has a current ratio of 2.65, a quick ratio of 2.06 and a debt-to-equity ratio of 0.14.

Barrick Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date of this dividend was Friday, November 29th. Barrick Gold’s dividend payout ratio (DPR) is 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.