Foundation Resource Management Inc. Cuts Stock Holdings in Barrick Gold Corp (NYSE:GOLD)

Foundation Resource Management Inc. lowered its stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 1.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 681,447 shares of the gold and copper producer’s stock after selling 10,264 shares during the period. Barrick Gold comprises 1.8% of Foundation Resource Management Inc.’s investment portfolio, making the stock its 22nd biggest position. Foundation Resource Management Inc.’s holdings in Barrick Gold were worth $10,562,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in GOLD. Principal Financial Group Inc. raised its holdings in Barrick Gold by 19.9% in the third quarter. Principal Financial Group Inc. now owns 483,613 shares of the gold and copper producer’s stock valued at $9,630,000 after acquiring an additional 80,366 shares in the last quarter. DCF Advisers LLC grew its stake in shares of Barrick Gold by 48.3% during the second quarter. DCF Advisers LLC now owns 107,500 shares of the gold and copper producer’s stock worth $1,793,000 after purchasing an additional 35,000 shares in the last quarter. Mizuho Markets Americas LLC increased its holdings in Barrick Gold by 21.7% in the third quarter. Mizuho Markets Americas LLC now owns 2,317,580 shares of the gold and copper producer’s stock valued at $46,097,000 after buying an additional 413,012 shares during the last quarter. Entropy Technologies LP acquired a new stake in Barrick Gold in the third quarter valued at $3,711,000. Finally, Aigen Investment Management LP lifted its holdings in Barrick Gold by 330.5% during the 3rd quarter. Aigen Investment Management LP now owns 99,240 shares of the gold and copper producer’s stock worth $1,974,000 after buying an additional 76,186 shares during the last quarter. Hedge funds and other institutional investors own 62.85% of the company’s stock.

Barrick Gold Price Performance

Barrick Gold stock opened at $15.56 on Wednesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.06 and a current ratio of 2.65. Barrick Gold Corp has a one year low of $13.76 and a one year high of $21.35. The company has a market cap of $27.09 billion, a P/E ratio of 16.73, a price-to-earnings-growth ratio of 0.47 and a beta of 0.54. The business has a fifty day moving average of $16.68 and a two-hundred day moving average of $18.39.

Barrick Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date of this dividend was Friday, November 29th. Barrick Gold’s dividend payout ratio is currently 43.01%.

Analyst Ratings Changes

Several equities analysts have commented on GOLD shares. Raymond James dropped their price target on shares of Barrick Gold from $26.00 to $25.00 and set an “outperform” rating on the stock in a research note on Monday, November 25th. Citigroup cut their price target on shares of Barrick Gold from $23.00 to $17.00 and set a “neutral” rating on the stock in a research note on Friday, December 20th. Berenberg Bank upped their price objective on shares of Barrick Gold from $37.00 to $38.00 in a research note on Tuesday, November 26th. UBS Group downgraded 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 report on Wednesday, October 30th. Finally, Scotiabank lowered their price target on Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating on the stock in a report on Monday, November 25th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target 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.