Assenagon Asset Management S.A. Has $11.62 Million Position in Barrick Gold Corp (NYSE:GOLD)

Assenagon Asset Management S.A. boosted its position in shares of Barrick Gold Corp (NYSE:GOLD - Free Report) TSE: ABX by 593.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 749,603 shares of the gold and copper producer's stock after purchasing an additional 641,455 shares during the period. Assenagon Asset Management S.A.'s holdings in Barrick Gold were worth $11,619,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. SeaCrest Wealth Management LLC purchased a new stake in Barrick Gold in the 4th quarter worth approximately $218,000. Oak Asset Management LLC boosted its position in Barrick Gold by 60.6% during the fourth quarter. Oak Asset Management LLC now owns 23,850 shares of the gold and copper producer's stock valued at $370,000 after purchasing an additional 9,000 shares during the last quarter. City State Bank increased its position in Barrick Gold by 200.0% in the 4th quarter. City State Bank now owns 7,500 shares of the gold and copper producer's stock worth $116,000 after purchasing an additional 5,000 shares during the last quarter. Legend Financial Advisors Inc. purchased a new stake in shares of Barrick Gold during the 4th quarter worth about $700,000. Finally, Bangor Savings Bank lifted its holdings in shares of Barrick Gold by 4.5% during the 4th quarter. Bangor Savings Bank now owns 22,025 shares of the gold and copper producer's stock valued at $341,000 after buying an additional 956 shares during the last quarter. 62.85% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on GOLD. Scotiabank dropped their price objective on Barrick Gold from $24.00 to $23.00 and set a "sector outperform" rating on the stock in a report on Monday, November 25th. TD Securities cut their price target on shares of Barrick Gold from $26.00 to $25.00 and set a "buy" rating on the stock in a report on Tuesday, November 26th. Cibc World Mkts cut shares of Barrick Gold from a "strong-buy" rating to a "hold" rating in a report on Monday, November 25th. CIBC lowered Barrick Gold from a "sector outperform" rating to a "neutral" rating in a report on Monday, November 25th. Finally, Raymond James lowered their price objective on Barrick Gold from $26.00 to $25.00 and set an "outperform" rating on the stock in a report on Monday, November 25th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $24.82.

Barrick Gold Stock Up 1.6 %

Shares of NYSE:GOLD traded up $0.25 during midday trading on Friday, reaching $16.00. 15,270,538 shares of the company were exchanged, compared to its average volume of 14,353,890. The firm has a market cap of $27.62 billion, a PE ratio of 17.20, a P/E/G ratio of 0.28 and a beta of 0.54. Barrick Gold Corp has a fifty-two week low of $13.76 and a fifty-two week high of $21.35. The stock has a fifty day simple moving average of $16.52 and a two-hundred day simple moving average of $18.36. The company has a quick ratio of 2.06, a current ratio of 2.65 and a debt-to-equity ratio of 0.14.

Barrick Gold Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend was Friday, November 29th. Barrick Gold's dividend payout ratio (DPR) is currently 43.01%.

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.