Mitsubishi UFJ Trust & Banking Corp Reduces Stock Position in Barrick Gold Corp (NYSE:GOLD)

Mitsubishi UFJ Trust & Banking Corp lessened its holdings in shares of Barrick Gold Corp (NYSE:GOLDGet Rating) (TSE:ABX) by 84.4% during the 2nd quarter, HoldingsChannel reports. The fund owned 9,135 shares of the gold and copper producer’s stock after selling 49,336 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Barrick Gold were worth $268,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of GOLD. Hazlett Burt & Watson Inc. purchased a new position in shares of Barrick Gold during the 1st quarter worth $26,000. Tompkins Financial Corp purchased a new position in shares of Barrick Gold during the 1st quarter worth $27,000. Janiczek Wealth Management LLC boosted its stake in shares of Barrick Gold by 760.8% during the 2nd quarter. Janiczek Wealth Management LLC now owns 2,066 shares of the gold and copper producer’s stock worth $33,000 after acquiring an additional 1,826 shares during the last quarter. Herold Advisors Inc. purchased a new position in shares of Barrick Gold during the 1st quarter worth $36,000. Finally, Venture Visionary Partners LLC purchased a new position in shares of Barrick Gold during the 2nd quarter worth $38,000. Hedge funds and other institutional investors own 58.03% of the company’s stock.

Barrick Gold Stock Performance

Barrick Gold stock opened at $16.01 on Wednesday. The company’s 50-day moving average price is $15.19 and its 200-day moving average price is $16.85. Barrick Gold Corp has a twelve month low of $13.01 and a twelve month high of $26.07. The company has a quick ratio of 2.98, a current ratio of 3.76 and a debt-to-equity ratio of 0.16. The company has a market cap of $28.20 billion, a PE ratio of 14.96, a price-to-earnings-growth ratio of 9.92 and a beta of 0.27.

Barrick Gold Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Wednesday, November 30th will be issued a $0.11 dividend. The ex-dividend date is Tuesday, November 29th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.75%. Barrick Gold’s dividend payout ratio (DPR) is presently 37.38%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on GOLD shares. Fundamental Research reiterated a “buy” rating and set a $19.90 price target on shares of Barrick Gold in a research note on Tuesday, November 15th. The Goldman Sachs Group began coverage on shares of Barrick Gold in a research note on Monday, September 12th. They set a “neutral” rating and a $18.00 target price on the stock. Royal Bank of Canada lowered their target price on shares of Barrick Gold from $27.00 to $20.00 and set an “outperform” rating on the stock in a research note on Monday. Stifel Nicolaus lowered their target price on shares of Barrick Gold from C$35.25 to C$33.00 in a research note on Wednesday, October 19th. Finally, Barclays lowered their target price on shares of Barrick Gold from $25.00 to $23.00 and set an “overweight” rating on the stock in a research note on Monday. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Barrick Gold currently has a consensus rating of “Moderate Buy” and an average target price of $23.59.

Barrick Gold Company Profile

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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.

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Institutional Ownership by Quarter for Barrick Gold (NYSE:GOLD)

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