SouthState Corp Acquires 10,108 Shares of Barrick Gold Corp (NYSE:GOLD)

SouthState Corp raised its position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 2.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 468,444 shares of the gold and copper producer’s stock after buying an additional 10,108 shares during the period. SouthState Corp’s holdings in Barrick Gold were worth $9,317,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Barrick Gold by 1.7% in the first quarter. Vanguard Group Inc. now owns 64,761,067 shares of the gold and copper producer’s stock worth $1,077,624,000 after buying an additional 1,089,572 shares during the last quarter. EdgePoint Investment Group Inc. boosted its position in Barrick Gold by 3.7% during the second quarter. EdgePoint Investment Group Inc. now owns 18,837,028 shares of the gold and copper producer’s stock worth $314,254,000 after purchasing an additional 666,214 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of Barrick Gold by 3.3% during the 2nd quarter. CIBC Asset Management Inc now owns 14,546,530 shares of the gold and copper producer’s stock valued at $242,491,000 after buying an additional 461,406 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Barrick Gold by 16.5% in the second quarter. Dimensional Fund Advisors LP now owns 7,471,407 shares of the gold and copper producer’s stock valued at $124,635,000 after purchasing an additional 1,057,886 shares during the period. Finally, Mondrian Investment Partners LTD boosted its holdings in Barrick Gold by 1.5% in the 2nd quarter. Mondrian Investment Partners LTD now owns 5,975,918 shares of the gold and copper producer’s stock worth $110,614,000 after buying an additional 88,008 shares during the last quarter. Hedge funds and other institutional investors own 62.85% of the company’s stock.

Barrick Gold Price Performance

Shares of GOLD opened at $17.21 on Tuesday. The firm has a fifty day moving average price of $19.65 and a 200 day moving average price of $18.49. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.65 and a quick ratio of 2.06. Barrick Gold Corp has a 1-year low of $13.76 and a 1-year high of $21.35. The stock has a market cap of $30.08 billion, a PE ratio of 18.51, a price-to-earnings-growth ratio of 0.39 and a beta of 0.56.

Barrick Gold Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.32%. The ex-dividend date is Friday, November 29th. Barrick Gold’s dividend payout ratio (DPR) is 43.01%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GOLD. Argus raised shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research note on Thursday, August 29th. Scotiabank cut their target price on Barrick Gold from $25.00 to $24.00 and set a “sector outperform” rating for the company in a research note on Friday, November 8th. TD Securities decreased their price objective on shares of Barrick Gold from $27.00 to $26.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Jefferies Financial Group raised their target price on Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a report on Friday, September 13th. Finally, Royal Bank of Canada raised their price target on shares of Barrick Gold from $21.00 to $22.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $23.90.

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.