Spire Wealth Management lowered its stake in shares of Barrick Gold Corp (NYSE:GOLD – Free Report) (TSE:ABX) by 55.3% in the third quarter, HoldingsChannel reports. The firm owned 4,938 shares of the gold and copper producer’s stock after selling 6,106 shares during the quarter. Spire Wealth Management’s holdings in Barrick Gold were worth $72,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Fairfield Bush & CO. acquired a new position in Barrick Gold during the 2nd quarter valued at approximately $29,000. RFP Financial Group LLC acquired a new position in Barrick Gold during the 2nd quarter worth $30,000. Chilton Capital Management LLC acquired a new position in Barrick Gold during the 1st quarter worth $37,000. Resurgent Financial Advisors LLC acquired a new position in Barrick Gold during the 4th quarter worth $36,000. Finally, FWL Investment Management LLC acquired a new position in Barrick Gold during the 4th quarter worth $36,000. Institutional investors and hedge funds own 58.20% of the company’s stock.
Analyst Ratings Changes
A number of brokerages have issued reports on GOLD. StockNews.com lowered Barrick Gold from a “buy” rating to a “hold” rating in a research report on Tuesday, January 23rd. National Bank Financial reiterated a “sector perform overweight” rating on shares of Barrick Gold in a research report on Wednesday, January 3rd. CIBC reduced their price target on Barrick Gold from $27.00 to $23.00 and set an “outperform” rating for the company in a research report on Wednesday, February 7th. BMO Capital Markets dropped their price objective on Barrick Gold from $28.00 to $27.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 17th. Finally, TD Securities dropped their price objective on Barrick Gold from $25.00 to $22.00 and set a “buy” rating on the stock in a research note on Monday, November 6th. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Barrick Gold has an average rating of “Moderate Buy” and a consensus price target of $21.98.
Barrick Gold Price Performance
Shares of NYSE:GOLD opened at $14.67 on Monday. The business has a 50 day moving average price of $16.79 and a 200 day moving average price of $16.29. Barrick Gold Corp has a twelve month low of $13.82 and a twelve month high of $20.75. The company has a market cap of $25.75 billion, a price-to-earnings ratio of 489.00, a PEG ratio of 0.97 and a beta of 0.58. The company has a quick ratio of 2.28, a current ratio of 3.07 and a debt-to-equity ratio of 0.15.
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.
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