Keudell Morrison Wealth Management Buys Shares of 10,054 Barrick Gold Corp (NYSE:GOLD)

Keudell Morrison Wealth Management purchased a new stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 10,054 shares of the gold and copper producer’s stock, valued at approximately $156,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Highland Capital Management LLC grew its position in shares of Barrick Gold by 82.0% in the fourth quarter. Highland Capital Management LLC now owns 75,584 shares of the gold and copper producer’s stock valued at $1,172,000 after purchasing an additional 34,055 shares during the last quarter. Baader Bank Aktiengesellschaft acquired a new stake in shares of Barrick Gold in the fourth quarter valued at about $344,000. Forsta AP Fonden grew its position in shares of Barrick Gold by 3.5% in the fourth quarter. Forsta AP Fonden now owns 363,144 shares of the gold and copper producer’s stock valued at $5,628,000 after purchasing an additional 12,200 shares during the last quarter. Smith Group Asset Management LLC acquired a new stake in shares of Barrick Gold in the fourth quarter valued at about $1,240,000. Finally, Perigon Wealth Management LLC grew its position in shares of Barrick Gold by 60.4% in the fourth quarter. Perigon Wealth Management LLC now owns 33,841 shares of the gold and copper producer’s stock valued at $533,000 after purchasing an additional 12,739 shares during the last quarter. 62.85% of the stock is owned by institutional investors and hedge funds.

Barrick Gold Stock Performance

NYSE:GOLD opened at $16.38 on Friday. Barrick Gold Corp has a 1 year low of $13.76 and a 1 year high of $21.35. The firm has a 50 day moving average of $16.29 and a 200-day moving average of $18.25. The company has a current ratio of 2.65, a quick ratio of 2.06 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $28.30 billion, a P/E ratio of 17.62, a price-to-earnings-growth ratio of 0.35 and a beta of 0.54.

Barrick Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date of this dividend was Friday, November 29th. Barrick Gold’s dividend payout ratio (DPR) is currently 43.01%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on GOLD shares. Citigroup lowered their price target on Barrick Gold from $23.00 to $17.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th. UBS Group downgraded Barrick Gold from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $23.00 to $22.00 in a research report on Wednesday, October 30th. Cibc World Mkts downgraded Barrick Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 25th. Raymond James decreased their target price on Barrick Gold from $26.00 to $25.00 and set an “outperform” rating on the stock in a research report on Monday, November 25th. Finally, CIBC downgraded Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research report on Monday, November 25th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Barrick Gold has a consensus rating of “Moderate Buy” and a consensus target price of $23.92.

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.