Bridgewater Associates LP Has $28.79 Million Holdings in Barrick Gold Corp (NYSE:GOLD)

Bridgewater Associates LP boosted its holdings in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 114.3% during the 3rd quarter, Holdings Channel.com reports. The fund owned 1,447,251 shares of the gold and copper producer’s stock after purchasing an additional 771,857 shares during the quarter. Bridgewater Associates LP’s holdings in Barrick Gold were worth $28,786,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in GOLD. Clean Yield Group bought a new stake in Barrick Gold during the first quarter worth $25,000. Exchange Traded Concepts LLC boosted its holdings in Barrick Gold by 198.1% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,407 shares of the gold and copper producer’s stock worth $28,000 after acquiring an additional 935 shares during the last quarter. Crewe Advisors LLC grew its stake in shares of Barrick Gold by 628.8% in the 2nd quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer’s stock worth $30,000 after acquiring an additional 1,572 shares in the last quarter. Jackson Grant Investment Advisers Inc. purchased a new stake in shares of Barrick Gold in the second quarter valued at about $32,000. Finally, Eastern Bank bought a new position in shares of Barrick Gold during the third quarter valued at about $32,000. Institutional investors and hedge funds own 62.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Raymond James reduced their price objective on shares of Barrick Gold from $26.00 to $25.00 and set an “outperform” rating for the company in a research report on Monday. Jefferies Financial Group boosted their price target on shares of Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Friday, September 13th. Royal Bank of Canada raised their price objective on shares of Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. UBS Group cut shares of Barrick Gold from a “buy” rating to a “neutral” rating and lowered their target price for the company from $23.00 to $22.00 in a report on Wednesday, October 30th. Finally, Berenberg Bank lifted their price target on Barrick Gold from $37.00 to $38.00 in a research report on Tuesday. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.91.

Barrick Gold Price Performance

Shares of Barrick Gold stock opened at $17.58 on Thursday. Barrick Gold Corp has a 12 month low of $13.76 and a 12 month high of $21.35. The company has a current ratio of 2.65, a quick ratio of 2.06 and a debt-to-equity ratio of 0.14. The business’s 50-day moving average price is $19.31 and its 200-day moving average price is $18.53. The firm has a market capitalization of $30.73 billion, a PE ratio of 18.90, a price-to-earnings-growth ratio of 0.42 and a beta of 0.56.

Barrick Gold Announces Dividend

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 issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.28%. The ex-dividend date is Friday, November 29th. Barrick Gold’s dividend payout ratio is currently 43.01%.

Barrick Gold Company 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.