Valley National Advisers Inc. Makes New $101,000 Investment in Barrick Gold Corp (NYSE:GOLD)

Valley National Advisers Inc. bought a new position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 6,530 shares of the gold and copper producer’s stock, valued at approximately $101,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Exchange Traded Concepts LLC increased its position in Barrick Gold by 198.1% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,407 shares of the gold and copper producer’s stock worth $28,000 after buying an additional 935 shares during the period. Eastern Bank bought a new position in Barrick Gold in the third quarter valued at about $32,000. JFS Wealth Advisors LLC lifted its stake in Barrick Gold by 451.7% in the 3rd quarter. JFS Wealth Advisors LLC now owns 1,909 shares of the gold and copper producer’s stock valued at $38,000 after purchasing an additional 1,563 shares during the last quarter. AlphaMark Advisors LLC bought a new position in Barrick Gold in the third quarter valued at about $60,000. Finally, BNP Paribas grew its holdings in Barrick Gold by 221.7% during the 3rd quarter. BNP Paribas now owns 3,066 shares of the gold and copper producer’s stock worth $62,000 after acquiring an additional 2,113 shares during the last quarter. 62.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on GOLD shares. Bank of America lowered Barrick Gold from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $21.00 to $18.00 in a research note on Monday, January 27th. Berenberg Bank raised their price objective on Barrick Gold from $37.00 to $38.00 in a research note on Tuesday, November 26th. Cibc World Mkts downgraded shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 25th. TD Securities lowered their price target on Barrick Gold from $26.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th. Finally, Scotiabank lowered shares of Barrick Gold from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from $23.00 to $19.00 in a research note on Thursday. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $23.92.

Barrick Gold Stock Performance

Shares of GOLD stock opened at $16.38 on Monday. Barrick Gold Corp has a 12 month low of $13.76 and a 12 month high of $21.35. The firm’s 50 day moving average is $16.25 and its 200 day moving average is $18.23. The company has a current ratio of 2.65, a quick ratio of 2.06 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $28.30 billion, a P/E ratio of 17.62, a PEG ratio of 0.35 and a beta of 0.54.

Barrick Gold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.40 annualized dividend and a yield of 2.44%. Barrick Gold’s dividend payout ratio is currently 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.