Bangor Savings Bank Buys 956 Shares of Barrick Gold Corp (NYSE:GOLD)

Bangor Savings Bank lifted its stake in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 4.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 22,025 shares of the gold and copper producer’s stock after acquiring an additional 956 shares during the quarter. Bangor Savings Bank’s holdings in Barrick Gold were worth $341,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in GOLD. Confluence Investment Management LLC lifted its position in Barrick Gold by 3.4% during the 4th quarter. Confluence Investment Management LLC now owns 29,751 shares of the gold and copper producer’s stock worth $461,000 after acquiring an additional 974 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Barrick Gold by 19.9% during the 3rd quarter. Principal Financial Group Inc. now owns 483,613 shares of the gold and copper producer’s stock worth $9,630,000 after purchasing an additional 80,366 shares during the last quarter. Inspire Trust Co. N.A. boosted its stake in Barrick Gold by 25.2% during the 3rd quarter. Inspire Trust Co. N.A. now owns 49,700 shares of the gold and copper producer’s stock valued at $989,000 after purchasing an additional 10,000 shares during the period. Synovus Financial Corp acquired a new stake in Barrick Gold in the 3rd quarter valued at approximately $210,000. Finally, Wilmington Savings Fund Society FSB bought a new position in Barrick Gold in the 3rd quarter worth approximately $517,000. Institutional investors and hedge funds own 62.85% of the company’s stock.

Barrick Gold Stock Up 0.4 %

Shares of NYSE:GOLD opened at $15.56 on Wednesday. The company’s fifty day moving average is $17.03 and its 200-day moving average is $18.42. 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 52 week low of $13.76 and a 52 week high of $21.35. The company has a market capitalization of $27.09 billion, a PE ratio of 16.73, a P/E/G ratio of 0.47 and a beta of 0.54.

Barrick Gold Dividend Announcement

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

Wall Street Analysts Forecast Growth

GOLD has been the subject of several research reports. TD Securities reduced their price objective on Barrick Gold from $26.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th. Jefferies Financial Group raised their price target on shares of Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Royal Bank of Canada upped their price objective on shares of Barrick Gold from $21.00 to $22.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. CIBC downgraded Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research report on Monday, November 25th. Finally, UBS Group cut Barrick Gold from a “buy” rating to a “neutral” rating and cut their price target for the company from $23.00 to $22.00 in a report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $24.82.

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.