Oppenheimer & Co. Inc. Trims Stake in Barrick Gold Corp (NYSE:GOLD)

Oppenheimer & Co. Inc. lessened its position in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 19.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 23,357 shares of the gold and copper producer’s stock after selling 5,581 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Barrick Gold were worth $465,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Ritholtz Wealth Management increased its holdings in shares of Barrick Gold by 2.8% in the 3rd quarter. Ritholtz Wealth Management now owns 18,163 shares of the gold and copper producer’s stock worth $361,000 after purchasing an additional 502 shares in the last quarter. Greenleaf Trust raised its position in Barrick Gold by 2.1% in the 3rd quarter. Greenleaf Trust now owns 25,659 shares of the gold and copper producer’s stock worth $510,000 after buying an additional 540 shares during the last quarter. Silverlake Wealth Management LLC lifted its stake in Barrick Gold by 1.3% during the 3rd quarter. Silverlake Wealth Management LLC now owns 49,890 shares of the gold and copper producer’s stock valued at $992,000 after acquiring an additional 628 shares during the period. Whitener Capital Management Inc. boosted its holdings in shares of Barrick Gold by 0.9% during the 3rd quarter. Whitener Capital Management Inc. now owns 73,185 shares of the gold and copper producer’s stock valued at $1,456,000 after acquiring an additional 675 shares during the last quarter. Finally, apricus wealth LLC grew its stake in shares of Barrick Gold by 0.6% in the third quarter. apricus wealth LLC now owns 112,850 shares of the gold and copper producer’s stock worth $2,245,000 after acquiring an additional 710 shares during the period. 62.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Scotiabank lowered their price target on Barrick Gold from $25.00 to $24.00 and set a “sector outperform” rating on the stock in a report on Friday, November 8th. Royal Bank of Canada increased their target price on Barrick Gold from $21.00 to $22.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Argus upgraded Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research note on Thursday, August 29th. UBS Group cut 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. Finally, Jefferies Financial Group boosted their target price on shares of Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Barrick Gold has a consensus rating of “Moderate Buy” and a consensus price target of $23.90.

Barrick Gold Stock Performance

NYSE GOLD opened at $17.90 on Thursday. The stock has a market cap of $31.29 billion, a PE ratio of 19.25, a P/E/G ratio of 0.39 and a beta of 0.56. Barrick Gold Corp has a twelve month low of $13.76 and a twelve month high of $21.35. The stock has a fifty day simple moving average of $19.58 and a 200-day simple moving average of $18.50. The company has a current ratio of 2.65, a quick ratio of 2.06 and a debt-to-equity ratio of 0.14.

Barrick Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.23%. The ex-dividend date is Friday, November 29th. Barrick Gold’s payout ratio is currently 43.01%.

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.