First City Capital Management Inc. Lowers Stock Holdings in Barrick Gold Corp (NYSE:GOLD)

First City Capital Management Inc. reduced its stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 7.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 26,412 shares of the gold and copper producer’s stock after selling 2,100 shares during the quarter. First City Capital Management Inc.’s holdings in Barrick Gold were worth $409,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Confluence Investment Management LLC lifted its holdings in shares of Barrick Gold by 3.4% in the 4th quarter. Confluence Investment Management LLC now owns 29,751 shares of the gold and copper producer’s stock valued at $461,000 after buying an additional 974 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Barrick Gold by 19.9% in the 3rd quarter. Principal Financial Group Inc. now owns 483,613 shares of the gold and copper producer’s stock valued at $9,630,000 after buying an additional 80,366 shares during the period. Inspire Trust Co. N.A. raised its holdings in Barrick Gold by 25.2% during the third quarter. Inspire Trust Co. N.A. now owns 49,700 shares of the gold and copper producer’s stock worth $989,000 after purchasing an additional 10,000 shares during the last quarter. Synovus Financial Corp acquired a new position in Barrick Gold during the third quarter worth $210,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in Barrick Gold during the third quarter worth $517,000. 62.85% of the stock is currently owned by hedge funds and other institutional investors.

Barrick Gold Stock Performance

Barrick Gold stock traded down $0.07 on Friday, hitting $15.90. The company’s stock had a trading volume of 6,115,424 shares, compared to its average volume of 9,213,117. The firm has a market cap of $27.68 billion, a P/E ratio of 17.10, a price-to-earnings-growth ratio of 0.47 and a beta of 0.53. 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 Corp has a one year low of $13.76 and a one year high of $21.35. The company has a fifty day moving average price of $17.29 and a 200-day moving average price of $18.42.

Barrick Gold Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.52%. The ex-dividend date of this dividend was Friday, November 29th. Barrick Gold’s payout ratio is presently 43.01%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. UBS Group cut Barrick Gold from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $23.00 to $22.00 in a report on Wednesday, October 30th. TD Securities reduced their price objective on Barrick Gold from $26.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. Scotiabank reduced 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, November 25th. Raymond James dropped their price target on Barrick Gold from $26.00 to $25.00 and set an “outperform” rating for the company in a research report on Monday, November 25th. Finally, Berenberg Bank raised their price target on Barrick Gold from $37.00 to $38.00 in a research report on Tuesday, November 26th. Five investment 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 currently has an average rating of “Moderate Buy” and an average price target of $24.82.

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.