SeaCrest Wealth Management LLC Purchases New Shares in Barrick Gold Corp (NYSE:GOLD)

SeaCrest Wealth Management LLC purchased a new stake in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 14,039 shares of the gold and copper producer’s stock, valued at approximately $218,000.

Other hedge funds also recently bought and sold shares of the company. Exchange Traded Concepts LLC raised its stake in shares of Barrick Gold by 198.1% in the third quarter. Exchange Traded Concepts LLC now owns 1,407 shares of the gold and copper producer’s stock valued at $28,000 after acquiring an additional 935 shares during the period. Eastern Bank purchased a new stake in shares of Barrick Gold in the third quarter valued at $32,000. JFS Wealth Advisors LLC raised its stake in shares of Barrick Gold by 451.7% in the third quarter. JFS Wealth Advisors LLC now owns 1,909 shares of the gold and copper producer’s stock valued at $38,000 after acquiring an additional 1,563 shares during the period. AlphaMark Advisors LLC purchased a new stake in shares of Barrick Gold in the third quarter valued at $60,000. Finally, BNP Paribas raised its stake in shares of Barrick Gold by 221.7% in the third quarter. BNP Paribas now owns 3,066 shares of the gold and copper producer’s stock valued at $62,000 after acquiring an additional 2,113 shares during the period. Hedge funds and other institutional investors own 62.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on GOLD. Cibc World Mkts downgraded shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 25th. TD Securities cut their price target on shares of Barrick Gold from $26.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. Raymond James cut their price target on shares of Barrick Gold from $26.00 to $25.00 and set an “outperform” rating on the stock in a report on Monday, November 25th. CIBC cut shares of Barrick Gold from a “sector outperform” rating to a “neutral” rating in a report on Monday, November 25th. Finally, UBS Group cut shares of Barrick Gold from a “buy” rating to a “neutral” rating and cut their price target for the stock from $23.00 to $22.00 in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $24.82.

Barrick Gold Stock Up 1.6 %

Shares of Barrick Gold stock opened at $16.00 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. Barrick Gold Corp has a 1 year low of $13.76 and a 1 year high of $21.35. The firm’s 50-day moving average is $16.52 and its two-hundred day moving average is $18.35. The stock has a market cap of $27.85 billion, a price-to-earnings ratio of 17.20, a PEG ratio of 0.28 and a beta of 0.54.

Barrick Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date was Friday, November 29th. 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.