Brown Brothers Harriman & Co. Acquires 9,267 Shares of Barrick Gold Corp (NYSE:GOLD)

Brown Brothers Harriman & Co. lifted its holdings in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 115.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,267 shares of the gold and copper producer’s stock after purchasing an additional 9,267 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Barrick Gold were worth $343,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Clean Yield Group bought a new stake in Barrick Gold during the 1st quarter worth about $25,000. Exchange Traded Concepts LLC raised its holdings in 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 acquiring an additional 935 shares in the last quarter. Crewe Advisors LLC boosted its position in 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 valued at $30,000 after purchasing an additional 1,572 shares during the last quarter. Jackson Grant Investment Advisers Inc. bought a new position in Barrick Gold in the second quarter valued at approximately $32,000. Finally, Eastern Bank acquired a new position in shares of Barrick Gold during the 3rd quarter worth approximately $32,000. Institutional investors and hedge funds own 62.85% of the company’s stock.

Barrick Gold Stock Performance

GOLD opened at $17.58 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.65 and a quick ratio of 2.06. The business has a fifty day simple moving average of $19.31 and a 200 day simple moving average of $18.53. Barrick Gold Corp has a 1 year low of $13.76 and a 1 year high of $21.35. The company has a market capitalization of $30.73 billion, a PE ratio of 18.90, a price-to-earnings-growth ratio of 0.42 and a beta of 0.56.

Barrick Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors 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 2.28%. Barrick Gold’s dividend payout ratio (DPR) is presently 43.01%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on GOLD. Berenberg Bank raised their target price on shares of Barrick Gold from $37.00 to $38.00 in a research note on Tuesday. Jefferies Financial Group boosted their price objective on shares of Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Raymond James reduced their price target on Barrick Gold from $26.00 to $25.00 and set an “outperform” rating for the company in a report on Monday. Scotiabank lowered their price target on Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating on the stock in a research report on Monday. Finally, UBS Group cut Barrick Gold from a “buy” rating to a “neutral” rating and cut their price objective for the company from $23.00 to $22.00 in a research report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $24.91.

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.