State Street Corp Sells 33,543 Shares of Barrick Gold Corp (NYSE:GOLD)

State Street Corp reduced its stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 6.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 503,809 shares of the gold and copper producer’s stock after selling 33,543 shares during the quarter. State Street Corp’s holdings in Barrick Gold were worth $10,021,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its stake in shares of Barrick Gold by 1.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 836,059 shares of the gold and copper producer’s stock worth $13,945,000 after acquiring an additional 9,980 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Barrick Gold by 4.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 509,140 shares of the gold and copper producer’s stock worth $8,491,000 after purchasing an additional 23,883 shares during the last quarter. Crewe Advisors LLC increased its holdings in shares of Barrick Gold by 628.8% during the 2nd quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer’s stock worth $30,000 after purchasing an additional 1,572 shares during the period. Boston Financial Mangement LLC raised its position in shares of Barrick Gold by 9.3% during the second quarter. Boston Financial Mangement LLC now owns 106,000 shares of the gold and copper producer’s stock valued at $1,768,000 after buying an additional 9,000 shares during the last quarter. Finally, Maryland State Retirement & Pension System lifted its stake in shares of Barrick Gold by 44.1% in the second quarter. Maryland State Retirement & Pension System now owns 450,875 shares of the gold and copper producer’s stock valued at $7,522,000 after buying an additional 137,983 shares during the period. Institutional investors own 62.85% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on GOLD shares. Jefferies Financial Group upped their price target on Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a report on Friday, September 13th. Citigroup cut their target price on Barrick Gold from $23.00 to $17.00 and set a “neutral” rating for the company in a research note on Friday, December 20th. CIBC downgraded shares of Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research note on Monday, November 25th. Cibc World Mkts cut shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 25th. Finally, Royal Bank of Canada lifted their target price 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. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.82.

Barrick Gold Stock Up 0.2 %

NYSE GOLD opened at $15.74 on Friday. The stock’s 50 day simple moving average is $17.81 and its 200 day simple moving average is $18.44. 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 one year low of $13.76 and a one year high of $21.35. The firm has a market cap of $27.40 billion, a PE ratio of 16.92, a price-to-earnings-growth ratio of 0.47 and a beta of 0.53.

Barrick Gold Dividend Announcement

The firm 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. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.54%. 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.