Assenagon Asset Management S.A. Boosts Stock Position in Barrick Gold Corp (NYSE:GOLD)

Assenagon Asset Management S.A. increased its position in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 593.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 749,603 shares of the gold and copper producer’s stock after acquiring an additional 641,455 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Barrick Gold were worth $11,619,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GOLD. Ritholtz Wealth Management raised its holdings in Barrick Gold by 2.8% during the third quarter. Ritholtz Wealth Management now owns 18,163 shares of the gold and copper producer’s stock valued at $361,000 after acquiring an additional 502 shares during the period. Greenleaf Trust grew its position in shares of Barrick Gold by 2.1% during the third quarter. Greenleaf Trust now owns 25,659 shares of the gold and copper producer’s stock worth $510,000 after purchasing an additional 540 shares in the last quarter. Moors & Cabot Inc. raised its stake in Barrick Gold by 0.9% during the 3rd quarter. Moors & Cabot Inc. now owns 64,085 shares of the gold and copper producer’s stock valued at $1,275,000 after purchasing an additional 579 shares during the period. Chelsea Counsel Co. lifted its holdings in Barrick Gold by 1.4% in the 3rd quarter. Chelsea Counsel Co. now owns 42,973 shares of the gold and copper producer’s stock worth $855,000 after purchasing an additional 590 shares in the last quarter. Finally, Silverlake Wealth Management LLC boosted its stake in Barrick Gold by 1.3% in the 3rd quarter. Silverlake Wealth Management LLC now owns 49,890 shares of the gold and copper producer’s stock worth $992,000 after purchasing an additional 628 shares during the period. Institutional investors own 62.85% of the company’s stock.

Barrick Gold Stock Up 1.6 %

Shares of GOLD opened at $16.00 on Friday. 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 business has a fifty day moving average of $16.52 and a 200 day moving average of $18.35. The company has a market cap of $27.85 billion, a PE ratio of 17.20, a P/E/G ratio of 0.28 and a beta of 0.54. Barrick Gold Corp has a 52-week low of $13.76 and a 52-week high of $21.35.

Barrick Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were paid a dividend of $0.10 per share. The ex-dividend date was Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.50%. Barrick Gold’s dividend payout ratio is presently 43.01%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. TD Securities reduced their price objective on shares of Barrick Gold from $26.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. UBS Group cut shares of Barrick Gold from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $23.00 to $22.00 in a research note on Wednesday, October 30th. Cibc World Mkts lowered Barrick Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 25th. Citigroup decreased their target price on Barrick Gold from $23.00 to $17.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th. Finally, Raymond James cut their price target on Barrick Gold from $26.00 to $25.00 and set an “outperform” rating for the company in a report on Monday, November 25th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $24.82.

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.