Barrick Gold Corp (NYSE:GOLD) Shares Sold by Cedar Wealth Management LLC

Cedar Wealth Management LLC reduced its stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 9.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 64,850 shares of the gold and copper producer’s stock after selling 6,790 shares during the period. Cedar Wealth Management LLC’s holdings in Barrick Gold were worth $1,290,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of GOLD. Kingsview Wealth Management LLC acquired a new stake in Barrick Gold during the 1st quarter worth $190,000. Orion Portfolio Solutions LLC boosted its stake in Barrick Gold by 6.0% in the first quarter. Orion Portfolio Solutions LLC now owns 82,133 shares of the gold and copper producer’s stock valued at $1,367,000 after acquiring an additional 4,652 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Barrick Gold by 1.7% during the first quarter. Vanguard Group Inc. now owns 64,761,067 shares of the gold and copper producer’s stock worth $1,077,624,000 after purchasing an additional 1,089,572 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of Barrick Gold by 262.6% during the first quarter. Acadian Asset Management LLC now owns 47,500 shares of the gold and copper producer’s stock worth $789,000 after purchasing an additional 34,400 shares in the last quarter. Finally, Seven Eight Capital LP acquired a new stake in shares of Barrick Gold during the first quarter worth about $652,000. Hedge funds and other institutional investors own 62.85% of the company’s stock.

Barrick Gold Trading Up 3.1 %

NYSE GOLD opened at $17.73 on Wednesday. Barrick Gold Corp has a 52-week low of $13.76 and a 52-week high of $21.35. The firm has a 50-day moving average price of $19.61 and a 200 day moving average price of $18.50. The stock has a market capitalization of $30.99 billion, a P/E ratio of 19.06, a P/E/G ratio of 0.39 and a beta of 0.56. 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 Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.40 annualized dividend and a dividend yield of 2.26%. Barrick Gold’s dividend payout ratio is currently 43.01%.

Analysts Set New Price Targets

A number of research firms recently issued reports on GOLD. Raymond James dropped their price target on Barrick Gold from $26.50 to $26.00 and set an “outperform” rating on the stock in a research note on Thursday, September 26th. Argus raised Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a report on Thursday, August 29th. 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 report on Wednesday, October 30th. Royal Bank of Canada increased their price target on shares of Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Finally, TD Securities lowered their price objective on shares of Barrick Gold from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Barrick Gold presently has an average rating of “Moderate Buy” and a consensus target price of $23.90.

About Barrick Gold

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.