Fmr LLC Sells 7,273,211 Shares of Barrick Gold Corp (NYSE:GOLD)

Fmr LLC cut its holdings in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 16.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,409,915 shares of the gold and copper producer’s stock after selling 7,273,211 shares during the period. Fmr LLC owned approximately 2.08% of Barrick Gold worth $724,192,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Ritholtz Wealth Management lifted its stake in Barrick Gold by 2.8% in the third quarter. Ritholtz Wealth Management now owns 18,163 shares of the gold and copper producer’s stock worth $361,000 after purchasing an additional 502 shares during the last quarter. Greenleaf Trust raised its stake in shares of Barrick Gold by 2.1% during the third quarter. Greenleaf Trust now owns 25,659 shares of the gold and copper producer’s stock valued at $510,000 after acquiring an additional 540 shares during the last quarter. Moors & Cabot Inc. raised its stake in shares of Barrick Gold by 0.9% during the third quarter. Moors & Cabot Inc. now owns 64,085 shares of the gold and copper producer’s stock valued at $1,275,000 after acquiring an additional 579 shares during the last quarter. Silverlake Wealth Management LLC raised its stake in shares of Barrick Gold by 1.3% during the third quarter. Silverlake Wealth Management LLC now owns 49,890 shares of the gold and copper producer’s stock valued at $992,000 after acquiring an additional 628 shares during the last quarter. Finally, Avior Wealth Management LLC raised its stake in shares of Barrick Gold by 24.1% during the third quarter. Avior Wealth Management LLC now owns 3,399 shares of the gold and copper producer’s stock valued at $68,000 after acquiring an additional 659 shares during the last quarter. 62.85% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on GOLD shares. Raymond James lowered their price objective on shares of Barrick Gold from $26.00 to $25.00 and set an “outperform” rating for the company in a research note on Monday. Argus raised shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research note on Thursday, August 29th. Jefferies Financial Group upped their price objective on shares of Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, September 13th. TD Securities lowered their price objective on shares of Barrick Gold from $26.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, Berenberg Bank increased their price target on shares of Barrick Gold from $37.00 to $38.00 in a research note on Tuesday. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $25.60.

Barrick Gold Price Performance

GOLD stock opened at $17.57 on Friday. The company has a market cap of $30.71 billion, a P/E ratio of 18.89, a PEG ratio of 0.42 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 firm has a 50-day moving average of $19.26 and a 200 day moving average of $18.53.

Barrick Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date is Friday, November 29th. Barrick Gold’s dividend payout ratio (DPR) is presently 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.