Townsquare Capital LLC Sells 2,342 Shares of Barrick Gold Corp (NYSE:GOLD)

Townsquare Capital LLC trimmed its holdings in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 0.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 284,403 shares of the gold and copper producer’s stock after selling 2,342 shares during the period. Townsquare Capital LLC’s holdings in Barrick Gold were worth $5,657,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. boosted its position in Barrick Gold by 221.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,027,811 shares of the gold and copper producer’s stock valued at $199,427,000 after buying an additional 6,904,934 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of Barrick Gold by 4,713.3% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,144,456 shares of the gold and copper producer’s stock valued at $69,141,000 after purchasing an additional 4,058,351 shares during the period. Letko Brosseau & Associates Inc. purchased a new stake in shares of Barrick Gold in the second quarter valued at approximately $66,820,000. The Manufacturers Life Insurance Company increased its holdings in Barrick Gold by 33.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 11,431,497 shares of the gold and copper producer’s stock worth $227,524,000 after purchasing an additional 2,854,055 shares during the period. Finally, Mizuho Markets Americas LLC bought a new stake in Barrick Gold during the 2nd quarter valued at $31,768,000. 62.85% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

GOLD has been the topic of a number of recent research reports. Argus raised Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Thursday, August 29th. UBS Group lowered shares of Barrick Gold from a “buy” rating to a “neutral” rating and reduced their price target for the company from $23.00 to $22.00 in a report on Wednesday, October 30th. Raymond James dropped their price objective on shares of Barrick Gold from $26.00 to $25.00 and set an “outperform” rating on the stock in a research note on Monday. Cibc World Mkts downgraded shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday. Finally, Jefferies Financial Group increased their target price on Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $25.60.

Barrick Gold Stock Up 0.1 %

Barrick Gold stock opened at $17.57 on Friday. The business has a fifty day moving average price of $19.26 and a 200-day moving average price of $18.53. Barrick Gold Corp has a 1-year low of $13.76 and a 1-year high of $21.35. The stock has a market capitalization of $30.71 billion, a price-to-earnings ratio of 18.89, a PEG ratio of 0.42 and a beta of 0.56. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.65 and a quick ratio of 2.06.

Barrick Gold Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.28%. Barrick Gold’s payout ratio is 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.