Synovus Financial Corp Makes New $210,000 Investment in Barrick Gold Corp (NYSE:GOLD)

Synovus Financial Corp acquired a new stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 10,574 shares of the gold and copper producer’s stock, valued at approximately $210,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wilmington Savings Fund Society FSB acquired a new position in shares of Barrick Gold during the third quarter worth $517,000. Chelsea Counsel Co. boosted its position in shares of Barrick Gold by 1.4% during the 3rd quarter. Chelsea Counsel Co. now owns 42,973 shares of the gold and copper producer’s stock worth $855,000 after acquiring an additional 590 shares in the last quarter. Bard Financial Services Inc. increased its holdings in shares of Barrick Gold by 3.5% in the 3rd quarter. Bard Financial Services Inc. now owns 55,875 shares of the gold and copper producer’s stock valued at $1,111,000 after acquiring an additional 1,875 shares during the last quarter. Sunbelt Securities Inc. raised its position in shares of Barrick Gold by 43.9% during the 3rd quarter. Sunbelt Securities Inc. now owns 14,241 shares of the gold and copper producer’s stock worth $283,000 after acquiring an additional 4,345 shares in the last quarter. Finally, Toronto Dominion Bank lifted its stake in Barrick Gold by 9.8% during the third quarter. Toronto Dominion Bank now owns 6,035,814 shares of the gold and copper producer’s stock worth $120,052,000 after purchasing an additional 538,204 shares during the last quarter. 62.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GOLD has been the topic of a number of research analyst reports. Royal Bank of Canada raised their price objective on shares of Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Jefferies Financial Group boosted their price target on shares of Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Scotiabank dropped their price objective on Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating on the stock in a report on Monday, November 25th. 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 report on Monday, November 25th. Finally, Berenberg Bank lifted their price target on Barrick Gold from $37.00 to $38.00 in a research report on Tuesday, November 26th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Barrick Gold has an average rating of “Moderate Buy” and an average target price of $25.60.

Barrick Gold Price Performance

Barrick Gold stock opened at $15.23 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 business has a 50 day simple moving average of $18.26 and a 200-day simple moving average of $18.48. Barrick Gold Corp has a 12 month low of $13.76 and a 12 month high of $21.35. The stock has a market capitalization of $26.52 billion, a PE ratio of 16.38, a price-to-earnings-growth ratio of 0.47 and a beta of 0.53.

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 annualized dividend and a dividend yield of 2.63%. The ex-dividend date was Friday, November 29th. Barrick Gold’s dividend payout ratio (DPR) is presently 43.01%.

Barrick Gold Company 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.