First City Capital Management Inc. Sells 2,100 Shares of Barrick Gold Corp (NYSE:GOLD)

First City Capital Management Inc. cut its holdings in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 7.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 26,412 shares of the gold and copper producer’s stock after selling 2,100 shares during the period. First City Capital Management Inc.’s holdings in Barrick Gold were worth $409,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GOLD. Exchange Traded Concepts LLC increased its stake in Barrick Gold by 198.1% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,407 shares of the gold and copper producer’s stock valued at $28,000 after buying an additional 935 shares during the last quarter. Eastern Bank acquired a new stake in Barrick Gold in the 3rd quarter valued at $32,000. JFS Wealth Advisors LLC increased its stake in Barrick Gold by 451.7% in the 3rd quarter. JFS Wealth Advisors LLC now owns 1,909 shares of the gold and copper producer’s stock valued at $38,000 after buying an additional 1,563 shares during the last quarter. AlphaMark Advisors LLC acquired a new stake in Barrick Gold in the 3rd quarter valued at $60,000. Finally, BNP Paribas increased its stake in Barrick Gold by 221.7% in the 3rd quarter. BNP Paribas now owns 3,066 shares of the gold and copper producer’s stock valued at $62,000 after buying an additional 2,113 shares during the last quarter. 62.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on GOLD shares. CIBC lowered shares of Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research note on Monday, November 25th. UBS Group lowered shares of Barrick Gold from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $23.00 to $22.00 in a research note on Wednesday, October 30th. Scotiabank lowered their price objective on shares of Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating on the stock in a research note on Monday, November 25th. TD Securities lowered 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 note on Tuesday, November 26th. Finally, Berenberg Bank boosted their price objective on shares of Barrick Gold from $37.00 to $38.00 in a research note on Tuesday, November 26th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.82.

Barrick Gold Trading Down 0.4 %

Shares of GOLD traded down $0.07 during trading hours on Friday, hitting $15.90. 6,115,424 shares of the stock were exchanged, compared to its average volume of 9,213,117. The firm has a market capitalization of $27.68 billion, a P/E ratio of 17.10, a price-to-earnings-growth ratio of 0.47 and a beta of 0.53. Barrick Gold Corp has a fifty-two week low of $13.76 and a fifty-two week high of $21.35. The business has a 50-day moving average of $17.29 and a 200-day moving average of $18.42. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date was Friday, November 29th. Barrick Gold’s dividend payout ratio (DPR) is 43.01%.

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.