Highland Capital Management LLC Boosts Stock Holdings in Barrick Gold Corp (NYSE:GOLD)

Highland Capital Management LLC lifted its holdings in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 82.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 75,584 shares of the gold and copper producer’s stock after buying an additional 34,055 shares during the quarter. Highland Capital Management LLC’s holdings in Barrick Gold were worth $1,172,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of GOLD. Ritholtz Wealth Management boosted its position in shares of Barrick Gold by 2.8% in the third quarter. Ritholtz Wealth Management now owns 18,163 shares of the gold and copper producer’s stock valued at $361,000 after acquiring an additional 502 shares during the period. Greenleaf Trust boosted its holdings in Barrick Gold by 2.1% in the 3rd quarter. Greenleaf Trust now owns 25,659 shares of the gold and copper producer’s stock valued at $510,000 after purchasing an additional 540 shares during the period. Moors & Cabot Inc. grew its position in shares of Barrick Gold by 0.9% during the 3rd quarter. Moors & Cabot Inc. now owns 64,085 shares of the gold and copper producer’s stock valued at $1,275,000 after purchasing an additional 579 shares in the last quarter. Chelsea Counsel Co. increased its holdings in shares of Barrick Gold by 1.4% in the third quarter. Chelsea Counsel Co. now owns 42,973 shares of the gold and copper producer’s stock worth $855,000 after purchasing an additional 590 shares during the period. Finally, Silverlake Wealth Management LLC raised its position in shares of Barrick Gold by 1.3% in the third quarter. Silverlake Wealth Management LLC now owns 49,890 shares of the gold and copper producer’s stock worth $992,000 after buying an additional 628 shares in the last quarter. 62.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on GOLD. Raymond James reduced their target price 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. Scotiabank cut shares of Barrick Gold from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $23.00 to $19.00 in a research report on Thursday. Berenberg Bank lifted their target price on shares of Barrick Gold from $37.00 to $38.00 in a research report on Tuesday, November 26th. CIBC lowered shares of Barrick Gold from a “sector outperform” rating to a “neutral” rating in a report on Monday, November 25th. Finally, UBS Group cut shares of Barrick Gold from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $23.00 to $22.00 in a research report on Wednesday, October 30th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Barrick Gold presently has a consensus rating of “Moderate Buy” and an average target price of $23.92.

Barrick Gold Price Performance

GOLD opened at $16.56 on Friday. 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 stock’s 50 day simple moving average is $16.32 and its 200 day simple moving average is $18.26. The firm has a market cap of $28.60 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 0.30 and a beta of 0.54. Barrick Gold Corp has a 1 year low of $13.76 and a 1 year high of $21.35.

Barrick Gold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date was Friday, November 29th. Barrick Gold’s dividend payout ratio (DPR) is presently 43.01%.

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.