Perigon Wealth Management LLC Raises Stake in Barrick Gold Corp (NYSE:GOLD)

Perigon Wealth Management LLC grew its holdings in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 60.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 33,841 shares of the gold and copper producer’s stock after acquiring an additional 12,739 shares during the quarter. Perigon Wealth Management LLC’s holdings in Barrick Gold were worth $533,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. AQR Capital Management LLC boosted its position in Barrick Gold by 24.8% during the second quarter. AQR Capital Management LLC now owns 43,901 shares of the gold and copper producer’s stock valued at $732,000 after buying an additional 8,712 shares during the period. Creative Planning lifted its stake in shares of Barrick Gold by 25.6% in the 2nd quarter. Creative Planning now owns 108,493 shares of the gold and copper producer’s stock valued at $1,810,000 after acquiring an additional 22,103 shares during the last quarter. NewEdge Advisors LLC grew its position in Barrick Gold by 61.0% during the 2nd quarter. NewEdge Advisors LLC now owns 164,352 shares of the gold and copper producer’s stock worth $2,741,000 after acquiring an additional 62,271 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Barrick Gold by 1.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 38,999 shares of the gold and copper producer’s stock worth $650,000 after acquiring an additional 731 shares during the last quarter. Finally, Truist Financial Corp increased its stake in Barrick Gold by 27.8% in the 2nd quarter. Truist Financial Corp now owns 95,794 shares of the gold and copper producer’s stock worth $1,598,000 after purchasing an additional 20,842 shares during the period. 62.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GOLD. Scotiabank cut shares of Barrick Gold from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from $23.00 to $19.00 in a report on Thursday. TD Securities decreased 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 lowered shares of Barrick Gold from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $23.00 to $22.00 in a report on Wednesday, October 30th. Bank of America downgraded Barrick Gold from a “buy” rating to a “neutral” rating and reduced their price target for the company from $21.00 to $18.00 in a report on Monday, January 27th. Finally, Berenberg Bank increased their price objective on Barrick Gold from $37.00 to $38.00 in a report on Tuesday, November 26th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $23.92.

Barrick Gold Trading Down 1.1 %

NYSE GOLD opened at $16.38 on Friday. The firm has a market capitalization of $28.30 billion, a PE ratio of 17.62, a P/E/G ratio of 0.35 and a beta of 0.54. The stock’s 50 day moving average is $16.29 and its 200 day moving average is $18.25. Barrick Gold Corp has a twelve month low of $13.76 and a twelve 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.

Barrick Gold Announces Dividend

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