Recurrent Investment Advisors LLC Cuts Stock Position in Barrick Gold Corp (NYSE:GOLD)

Recurrent Investment Advisors LLC cut its holdings in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 6.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 68,009 shares of the gold and copper producer’s stock after selling 4,737 shares during the period. Recurrent Investment Advisors LLC’s holdings in Barrick Gold were worth $1,353,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Exchange Traded Concepts LLC increased its stake 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 worth $28,000 after buying an additional 935 shares during the period. Crewe Advisors LLC increased its stake in shares of Barrick Gold by 628.8% during the second 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 during the period. Jackson Grant Investment Advisers Inc. purchased a new stake in shares of Barrick Gold during the second quarter worth approximately $32,000. Eastern Bank purchased a new stake in shares of Barrick Gold during the third quarter worth approximately $32,000. Finally, JFS Wealth Advisors LLC increased its stake in shares of Barrick Gold by 451.7% during the third quarter. JFS Wealth Advisors LLC now owns 1,909 shares of the gold and copper producer’s stock worth $38,000 after buying an additional 1,563 shares during the period. 62.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on GOLD shares. Royal Bank of Canada upped their target price on shares of Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Cibc World Mkts lowered shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 25th. CIBC downgraded Barrick Gold from a “sector outperform” rating to a “neutral” rating in a report on Monday, November 25th. Scotiabank lowered their price target on Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating for the company in a report on Monday, November 25th. Finally, Argus raised Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a report on Thursday, August 29th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Barrick Gold presently has an average rating of “Moderate Buy” and a consensus price target of $25.60.

Barrick Gold Price Performance

GOLD stock opened at $17.38 on Thursday. The company has a market capitalization of $30.38 billion, a P/E ratio of 18.69, a PEG ratio of 0.47 and a beta of 0.53. Barrick Gold Corp has a twelve month low of $13.76 and a twelve month high of $21.35. The business has a 50 day simple moving average of $19.02 and a 200-day simple moving average of $18.53. 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 company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.30%. The ex-dividend date is Friday, November 29th. Barrick Gold’s payout ratio is currently 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.