Drive Wealth Management LLC Invests $410,000 in Barrick Gold Corp (NYSE:GOLD)

Drive Wealth Management LLC bought a new position in shares of Barrick Gold Corp (NYSE:GOLD - Free Report) TSE: ABX during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 24,456 shares of the gold and copper producer's stock, valued at approximately $410,000.

Several other large investors also recently modified their holdings of GOLD. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of 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 acquiring an additional 6,904,934 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in Barrick Gold by 33.3% in 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 in the last quarter. Wellington Management Group LLP boosted its stake in shares of Barrick Gold by 2.7% during the third quarter. Wellington Management Group LLP now owns 54,712,508 shares of the gold and copper producer's stock valued at $1,088,484,000 after purchasing an additional 1,458,084 shares in the last quarter. Systrade AG bought a new stake in shares of Barrick Gold during the third quarter worth about $28,094,000. Finally, Quadrature Capital Ltd acquired a new position in shares of Barrick Gold in the third quarter valued at approximately $20,379,000. 62.85% of the stock is owned by institutional investors and hedge funds.

Barrick Gold Trading Down 0.7 %

Shares of Barrick Gold stock traded down $0.11 on Tuesday, reaching $15.95. The company had a trading volume of 16,973,224 shares, compared to its average volume of 18,147,756. The firm has a market cap of $27.55 billion, a price-to-earnings ratio of 17.15, a P/E/G ratio of 0.30 and a beta of 0.54. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.65 and a quick ratio of 2.06. The firm's 50-day moving average price is $16.40 and its two-hundred day moving average price is $18.30. Barrick Gold Corp has a 1 year low of $13.76 and a 1 year high of $21.35.

Barrick Gold Announces Dividend

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 yield of 2.51%. The ex-dividend date of this dividend was Friday, November 29th. Barrick Gold's dividend payout ratio is presently 43.01%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on GOLD. TD Securities dropped their price target on shares of Barrick Gold from $26.00 to $25.00 and set a "buy" rating for the company in a research note on Tuesday, November 26th. Bank of America downgraded Barrick Gold from a "buy" rating to a "neutral" rating and cut their target price for the stock from $21.00 to $18.00 in a report on Monday. UBS Group lowered 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 research report on Wednesday, October 30th. CIBC downgraded Barrick Gold from a "sector outperform" rating to a "neutral" rating in a research report on Monday, November 25th. Finally, Citigroup reduced their target price on Barrick Gold from $23.00 to $17.00 and set a "neutral" rating on the stock in a report on Friday, December 20th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $23.92.

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.