Qsemble Capital Management LP Sells 34,167 Shares of Barrick Gold Corp (NYSE:GOLD)

Qsemble Capital Management LP lowered its holdings in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 32.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 72,491 shares of the gold and copper producer’s stock after selling 34,167 shares during the quarter. Qsemble Capital Management LP’s holdings in Barrick Gold were worth $1,442,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Clean Yield Group purchased a new position in Barrick Gold during the 1st quarter valued at about $25,000. Exchange Traded Concepts LLC lifted 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 valued at $28,000 after purchasing an additional 935 shares in the last quarter. Crewe Advisors LLC increased its holdings in Barrick Gold by 628.8% in the 2nd quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer’s stock worth $30,000 after buying an additional 1,572 shares in the last quarter. Jackson Grant Investment Advisers Inc. purchased a new position in Barrick Gold in the 2nd quarter worth about $32,000. Finally, Eastern Bank bought a new position in Barrick Gold during the 3rd quarter valued at about $32,000. Institutional investors own 62.85% of the company’s stock.

Barrick Gold Trading Down 2.9 %

Shares of NYSE GOLD opened at $17.69 on Tuesday. The business’s 50 day moving average price is $19.42 and its 200-day moving average price is $18.53. The company has a market cap of $30.92 billion, a price-to-earnings ratio of 19.02, a PEG ratio of 0.43 and a beta of 0.56. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.06 and a current ratio of 2.65. Barrick Gold Corp has a fifty-two week low of $13.76 and a fifty-two week high of $21.35.

Barrick Gold Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a $0.10 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a yield of 2.26%. Barrick Gold’s dividend payout ratio is currently 43.01%.

Wall Street Analyst Weigh In

GOLD has been the topic of a number of research analyst reports. TD Securities lowered their price objective on shares of Barrick Gold from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Scotiabank cut their price objective on Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating for the company in a report on Monday. Jefferies Financial Group boosted their price target on Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, September 13th. Royal Bank of Canada lifted their price objective on Barrick Gold from $21.00 to $22.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. Finally, Raymond James reduced 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. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Barrick Gold presently has a consensus rating of “Moderate Buy” and an average target price of $23.70.

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.