Gemsstock Ltd. Has $25.25 Million Stock Holdings in Barrick Gold Corp (NYSE:GOLD)

Gemsstock Ltd. increased its holdings in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 69.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,269,600 shares of the gold and copper producer’s stock after purchasing an additional 518,900 shares during the period. Barrick Gold accounts for approximately 12.2% of Gemsstock Ltd.’s investment portfolio, making the stock its 3rd biggest holding. Gemsstock Ltd.’s holdings in Barrick Gold were worth $25,252,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ritholtz Wealth Management increased its position in shares of Barrick Gold by 2.8% during the third quarter. Ritholtz Wealth Management now owns 18,163 shares of the gold and copper producer’s stock worth $361,000 after buying an additional 502 shares during the period. Greenleaf Trust boosted its position in Barrick Gold by 2.1% during the third quarter. Greenleaf Trust now owns 25,659 shares of the gold and copper producer’s stock valued at $510,000 after acquiring an additional 540 shares during the last quarter. Silverlake Wealth Management LLC grew its holdings in Barrick Gold by 1.3% during the 3rd quarter. Silverlake Wealth Management LLC now owns 49,890 shares of the gold and copper producer’s stock worth $992,000 after acquiring an additional 628 shares during the period. Avior Wealth Management LLC raised its position in shares of Barrick Gold by 24.1% in the 3rd quarter. Avior Wealth Management LLC now owns 3,399 shares of the gold and copper producer’s stock worth $68,000 after acquiring an additional 659 shares in the last quarter. Finally, Whitener Capital Management Inc. raised its position in shares of Barrick Gold by 0.9% in the 3rd quarter. Whitener Capital Management Inc. now owns 73,185 shares of the gold and copper producer’s stock worth $1,456,000 after acquiring an additional 675 shares in the last quarter. 62.85% of the stock is currently owned by institutional investors and hedge funds.

Barrick Gold Trading Up 3.1 %

Shares of Barrick Gold stock opened at $17.73 on Wednesday. The company has a market capitalization of $30.99 billion, a P/E ratio of 19.06, a price-to-earnings-growth ratio of 0.39 and a beta of 0.56. The stock has a fifty day simple moving average of $19.61 and a 200 day simple moving average of $18.50. Barrick Gold Corp has a 12-month low of $13.76 and a 12-month high of $21.35. 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 announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders 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 annualized dividend and a dividend yield of 2.26%. Barrick Gold’s payout ratio is 43.01%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GOLD. Raymond James decreased their target price on Barrick Gold from $26.50 to $26.00 and set an “outperform” rating for the company in a research note on Thursday, September 26th. Jefferies Financial Group raised their price objective on shares of Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Scotiabank dropped their target price on shares of Barrick Gold from $25.00 to $24.00 and set a “sector outperform” rating on the stock in a research report on Friday, November 8th. TD Securities reduced their price target on shares of Barrick Gold from $27.00 to $26.00 and set a “buy” rating for the company in a report on Friday, November 8th. Finally, Argus upgraded shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a report on Thursday, August 29th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $23.90.

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.