Erste Asset Management GmbH Invests $517,000 in Barrick Gold Corp (NYSE:GOLD)

Erste Asset Management GmbH acquired a new position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 26,000 shares of the gold and copper producer’s stock, valued at approximately $517,000.

Other institutional investors also recently modified their holdings of the company. Northwest & Ethical Investments L.P. boosted its stake in Barrick Gold by 24.5% in the 3rd quarter. Northwest & Ethical Investments L.P. now owns 70,050 shares of the gold and copper producer’s stock valued at $1,393,000 after buying an additional 13,800 shares in the last quarter. De Lisle Partners LLP boosted its stake in Barrick Gold by 7.0% in the 3rd quarter. De Lisle Partners LLP now owns 153,000 shares of the gold and copper producer’s stock valued at $3,042,000 after buying an additional 10,000 shares in the last quarter. FORA Capital LLC acquired a new stake in Barrick Gold in the 3rd quarter valued at $287,000. BNP Paribas boosted its stake in Barrick Gold by 221.7% in the 3rd quarter. BNP Paribas now owns 3,066 shares of the gold and copper producer’s stock valued at $62,000 after buying an additional 2,113 shares in the last quarter. Finally, Glenmede Trust Co. NA boosted its stake in Barrick Gold by 16.3% in the 3rd quarter. Glenmede Trust Co. NA now owns 18,793 shares of the gold and copper producer’s stock valued at $374,000 after buying an additional 2,638 shares in the last quarter. Institutional investors and hedge funds own 62.85% of the company’s stock.

Barrick Gold Trading Down 1.3 %

GOLD stock opened at $17.38 on Thursday. The company has a market cap 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 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 has a fifty day moving average of $19.02 and a 200-day moving average of $18.53.

Barrick Gold Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a dividend of $0.10 per share. The ex-dividend date is Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.30%. Barrick Gold’s payout ratio is currently 43.01%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on GOLD. Royal Bank of Canada boosted their price target on Barrick Gold from $21.00 to $22.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. UBS Group lowered Barrick Gold from a “buy” rating to a “neutral” rating and decreased their price target for the company from $23.00 to $22.00 in a research note on Wednesday, October 30th. Berenberg Bank lifted their price objective on Barrick Gold from $37.00 to $38.00 in a research report on Tuesday, November 26th. Argus upgraded Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Thursday, August 29th. Finally, CIBC downgraded Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research report on Monday, November 25th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.60.

About Barrick Gold

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.