Newbridge Financial Services Group Inc. Acquires New Shares in Barrick Gold Corp (NYSE:GOLD)

Newbridge Financial Services Group Inc. acquired a new position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 4,162 shares of the gold and copper producer’s stock, valued at approximately $65,000.

A number of other institutional investors also recently bought and sold shares of GOLD. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Barrick Gold by 221.1% in 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 buying an additional 6,904,934 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Barrick Gold by 33.3% during the third 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 during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Barrick Gold by 2.7% in the third quarter. Wellington Management Group LLP now owns 54,712,508 shares of the gold and copper producer’s stock valued at $1,088,484,000 after purchasing an additional 1,458,084 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Barrick Gold in the third quarter valued at approximately $20,379,000. Finally, Bridgewater Associates LP increased its stake in shares of Barrick Gold by 114.3% during the 3rd quarter. Bridgewater Associates LP now owns 1,447,251 shares of the gold and copper producer’s stock worth $28,786,000 after purchasing an additional 771,857 shares in the last quarter. 62.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on GOLD shares. Bank of America cut Barrick Gold from a “buy” rating to a “neutral” rating and lowered their target price for the company from $21.00 to $18.00 in a report on Monday, January 27th. CIBC lowered Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research note on Monday, November 25th. TD Securities cut their target price 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, November 26th. Raymond James decreased their price target on shares of Barrick Gold from $25.00 to $24.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, UBS Group lowered shares of Barrick Gold from a “buy” rating to a “neutral” rating and cut their price objective for the company from $23.00 to $22.00 in a research report on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Barrick Gold presently has a consensus rating of “Moderate Buy” and an average price target of $23.83.

Barrick Gold Stock Performance

NYSE:GOLD opened at $17.44 on Tuesday. Barrick Gold Corp has a fifty-two week low of $13.76 and a fifty-two week high of $21.35. The firm’s 50 day moving average is $16.19 and its two-hundred day moving average is $18.17. The company has a market cap of $30.11 billion, a P/E ratio of 18.75, a P/E/G ratio of 0.39 and a beta of 0.55. The company has a quick ratio of 2.06, a current ratio of 2.65 and a debt-to-equity ratio of 0.14.

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.