Equity Investment Corp Sells 60,319 Shares of Barrick Gold Corp (NYSE:GOLD)

Equity Investment Corp decreased its holdings in shares of Barrick Gold Corp (NYSE:GOLD - Free Report) TSE: ABX by 1.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,168,486 shares of the gold and copper producer's stock after selling 60,319 shares during the period. Barrick Gold accounts for 2.4% of Equity Investment Corp's portfolio, making the stock its 19th largest position. Equity Investment Corp owned approximately 0.30% of Barrick Gold worth $102,801,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Exchange Traded Concepts LLC boosted its position in shares of Barrick Gold by 198.1% during the third quarter. Exchange Traded Concepts LLC now owns 1,407 shares of the gold and copper producer's stock valued at $28,000 after buying an additional 935 shares during the last quarter. Clean Yield Group bought a new stake in shares of Barrick Gold in the first quarter worth approximately $25,000. Eastern Bank purchased a new position in shares of Barrick Gold during the third quarter valued at approximately $32,000. Crewe Advisors LLC lifted its position in Barrick Gold by 628.8% during the second quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer's stock valued at $30,000 after purchasing an additional 1,572 shares during the period. Finally, JFS Wealth Advisors LLC boosted its holdings in Barrick Gold by 451.7% in the third quarter. JFS Wealth Advisors LLC now owns 1,909 shares of the gold and copper producer's stock worth $38,000 after purchasing an additional 1,563 shares during the last quarter. 62.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on GOLD shares. TD Securities decreased their target price on shares of Barrick Gold from $27.00 to $26.00 and set a "buy" rating for the company in a research note on Friday, November 8th. UBS Group cut shares of Barrick Gold from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $23.00 to $22.00 in a research note on Wednesday, October 30th. Raymond James cut their target price on shares of Barrick Gold from $26.50 to $26.00 and set an "outperform" rating for the company in a research report on Thursday, September 26th. Scotiabank decreased their price target on shares of Barrick Gold from $25.00 to $24.00 and set a "sector outperform" rating on the stock in a research report on Friday, November 8th. Finally, Royal Bank of Canada boosted their price objective on shares of Barrick Gold from $21.00 to $22.00 and gave the company an "outperform" rating in a research report on Tuesday, September 10th. Three investment 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 currently has an average rating of "Moderate Buy" and a consensus target price of $23.90.

Barrick Gold Price Performance

Shares of NYSE:GOLD traded up $0.56 during mid-day trading on Monday, reaching $17.21. The stock had a trading volume of 31,097,264 shares, compared to its average volume of 21,467,057. The company has a market cap of $30.08 billion, a P/E ratio of 18.51, a price-to-earnings-growth ratio of 0.39 and a beta of 0.56. The business's 50 day moving average price is $19.65 and its 200 day moving average price is $18.49. The company has a current ratio of 2.65, a quick ratio of 2.06 and a debt-to-equity ratio of 0.14. Barrick Gold Corp has a 1 year low of $13.76 and a 1 year high of $21.35.

Barrick Gold Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given 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 2.32%. Barrick Gold's dividend payout ratio is currently 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.