Drive Wealth Management LLC Makes New $410,000 Investment in Barrick Gold Corp (NYSE:GOLD)

Drive Wealth Management LLC bought a new position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 24,456 shares of the gold and copper producer’s stock, valued at approximately $410,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GOLD. Connor Clark & Lunn Investment Management Ltd. increased its position in Barrick Gold by 221.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,027,811 shares of the gold and copper producer’s stock worth $199,427,000 after purchasing an additional 6,904,934 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Barrick Gold by 33.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 11,431,497 shares of the gold and copper producer’s stock worth $227,524,000 after acquiring an additional 2,854,055 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Barrick Gold by 2.7% during the 3rd quarter. Wellington Management Group LLP now owns 54,712,508 shares of the gold and copper producer’s stock worth $1,088,484,000 after acquiring an additional 1,458,084 shares in the last quarter. Systrade AG purchased a new stake in shares of Barrick Gold during the 3rd quarter worth approximately $28,094,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of Barrick Gold during the 3rd quarter worth approximately $20,379,000. Institutional investors and hedge funds own 62.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Cibc World Mkts lowered Barrick Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 25th. TD Securities decreased their price target on Barrick Gold from $26.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. CIBC lowered Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research note on Monday, November 25th. Berenberg Bank upped their target price on Barrick Gold from $37.00 to $38.00 in a research note on Tuesday, November 26th. Finally, Raymond James reduced their target price on Barrick Gold from $26.00 to $25.00 and set an “outperform” rating on the stock in a research note on Monday, November 25th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $23.92.

Barrick Gold Trading Down 0.3 %

Shares of Barrick Gold stock opened at $16.08 on Tuesday. The firm has a market cap of $27.76 billion, a PE ratio of 17.28, a P/E/G ratio of 0.30 and a beta of 0.54. The company has a quick ratio of 2.06, a current ratio of 2.65 and a debt-to-equity ratio of 0.14. The business’s fifty day moving average is $16.42 and its two-hundred day moving average is $18.31. Barrick Gold Corp has a fifty-two week low of $13.76 and a fifty-two week high of $21.35.

Barrick Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were issued a dividend of $0.10 per share. The ex-dividend date was Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.49%. Barrick Gold’s payout ratio is 43.01%.

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.