Principal Financial Group Inc. Has $9.63 Million Stock Position in Barrick Gold Corp (NYSE:GOLD)

Principal Financial Group Inc. boosted its position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 19.9% in the 3rd quarter, Holdings Channel.com reports. The fund owned 483,613 shares of the gold and copper producer’s stock after purchasing an additional 80,366 shares during the period. Principal Financial Group Inc.’s holdings in Barrick Gold were worth $9,630,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of GOLD. DCF Advisers LLC raised its position in shares of Barrick Gold by 48.3% in the second quarter. DCF Advisers LLC now owns 107,500 shares of the gold and copper producer’s stock worth $1,793,000 after buying an additional 35,000 shares in the last quarter. Mizuho Markets Americas LLC raised its stake 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 purchasing an additional 413,012 shares in the last quarter. Entropy Technologies LP purchased a new stake in shares of Barrick Gold during the 3rd quarter valued at $3,711,000. Aigen Investment Management LP lifted its stake in Barrick Gold by 330.5% during the third quarter. Aigen Investment Management LP now owns 99,240 shares of the gold and copper producer’s stock worth $1,974,000 after purchasing an additional 76,186 shares during the last quarter. Finally, Evexia Wealth LLC purchased a new stake in Barrick Gold in the third quarter worth approximately $2,382,000. 62.85% of the stock is currently owned by hedge funds and other institutional investors.

Barrick Gold Trading Down 1.4 %

Barrick Gold stock opened at $15.46 on Tuesday. Barrick Gold Corp has a one year low of $13.76 and a one year high of $21.35. The business’s fifty day moving average is $17.60 and its 200 day moving average is $18.46. The stock has a market capitalization of $26.92 billion, a PE ratio of 16.62, a price-to-earnings-growth ratio of 0.47 and a beta of 0.53. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were issued a dividend of $0.10 per share. The ex-dividend date was Friday, November 29th. This represents a $0.40 annualized dividend and a dividend yield of 2.59%. Barrick Gold’s payout ratio is 43.01%.

Analyst Upgrades and Downgrades

GOLD has been the subject of several analyst reports. Scotiabank dropped their target price on Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating for the company in a report on Monday, November 25th. UBS Group downgraded 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. TD Securities decreased their price target on shares of Barrick Gold from $26.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Finally, Royal Bank of Canada boosted their price objective 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. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.