Principal Financial Group Inc. Has $9.63 Million Stock Position in Barrick Gold Corp (NYSE:GOLD)

Principal Financial Group Inc. lifted its holdings in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 19.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 483,613 shares of the gold and copper producer’s stock after purchasing an additional 80,366 shares during the period. Principal Financial Group Inc.’s holdings in Barrick Gold were worth $9,630,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of GOLD. Ritholtz Wealth Management lifted 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 worth $361,000 after buying an additional 502 shares during the last quarter. Greenleaf Trust increased its position 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 worth $510,000 after buying an additional 540 shares during the period. Silverlake Wealth Management LLC lifted its holdings in shares of Barrick Gold by 1.3% during 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 during the last quarter. Whitener Capital Management Inc. boosted its position in shares of Barrick Gold by 0.9% in the third quarter. Whitener Capital Management Inc. now owns 73,185 shares of the gold and copper producer’s stock valued at $1,456,000 after acquiring an additional 675 shares during the period. Finally, apricus wealth LLC grew its stake in shares of Barrick Gold by 0.6% in the third quarter. apricus wealth LLC now owns 112,850 shares of the gold and copper producer’s stock worth $2,245,000 after acquiring an additional 710 shares during the last quarter. 62.85% of the stock is currently owned by institutional investors.

Barrick Gold Trading Up 3.4 %

Shares of GOLD stock opened at $17.21 on Tuesday. The company has a market capitalization of $30.08 billion, a P/E ratio of 18.51, a P/E/G ratio of 0.39 and a beta of 0.56. Barrick Gold Corp has a 12-month low of $13.76 and a 12-month high of $21.35. The company has a quick ratio of 2.06, a current ratio of 2.65 and a debt-to-equity ratio of 0.14. The firm has a 50-day moving average price of $19.65 and a 200 day moving average price of $18.49.

Barrick Gold Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend is Friday, November 29th. Barrick Gold’s payout ratio is currently 43.01%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. UBS Group cut shares of Barrick Gold from a “buy” rating to a “neutral” rating and cut their target price for the company from $23.00 to $22.00 in a research note on Wednesday, October 30th. TD Securities decreased their target price on Barrick Gold from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Raymond James cut their price target on Barrick Gold from $26.50 to $26.00 and set an “outperform” rating for the company in a report on Thursday, September 26th. Scotiabank decreased their price objective on Barrick Gold from $25.00 to $24.00 and set a “sector outperform” rating on the stock in a report on Friday, November 8th. Finally, Argus upgraded Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research note on Thursday, August 29th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Barrick Gold currently has an average rating of “Moderate Buy” and a consensus target price of $23.90.

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.