Franklin Resources Inc. Has $76.80 Million Stock Position in Barrick Gold Corp (NYSE:GOLD)

Franklin Resources Inc. lessened its position in Barrick Gold Corp (NYSE:GOLD - Free Report) TSE: ABX by 18.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,833,514 shares of the gold and copper producer's stock after selling 854,061 shares during the period. Franklin Resources Inc. owned about 0.22% of Barrick Gold worth $76,800,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Exchange Traded Concepts LLC increased its stake in shares of Barrick Gold by 198.1% in 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 in the last quarter. Crewe Advisors LLC raised its stake in shares of Barrick Gold by 628.8% in the second quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer's stock worth $30,000 after acquiring an additional 1,572 shares during the last quarter. Eastern Bank acquired a new position in shares of Barrick Gold during the third quarter worth approximately $32,000. JFS Wealth Advisors LLC increased its holdings in shares of 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 valued at $38,000 after purchasing an additional 1,563 shares in the last quarter. Finally, AlphaMark Advisors LLC bought a new position in Barrick Gold in the 3rd quarter worth approximately $60,000. Institutional investors and hedge funds own 62.85% of the company's stock.

Barrick Gold Stock Down 0.7 %

GOLD traded down $0.11 during trading on Tuesday, hitting $16.24. The company had a trading volume of 17,018,785 shares, compared to its average volume of 21,386,293. The firm's 50-day moving average price is $18.51 and its 200 day moving average price is $18.53. The company has a market capitalization of $28.27 billion, a PE ratio of 17.57, a PEG ratio of 0.47 and a beta of 0.53. 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 Corp has a one year low of $13.76 and a one year high of $21.35.

Barrick Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were given a dividend of $0.10 per share. The ex-dividend date was Friday, November 29th. This represents a $0.40 annualized dividend and a dividend yield of 2.46%. Barrick Gold's dividend payout ratio is currently 43.01%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on GOLD shares. Jefferies Financial Group increased their price objective on shares of Barrick Gold from $23.00 to $24.00 and gave the company a "buy" rating in a report on Friday, September 13th. Berenberg Bank raised their price target on Barrick Gold from $37.00 to $38.00 in a research report on Tuesday, November 26th. TD Securities decreased their price objective on Barrick Gold from $26.00 to $25.00 and set a "buy" rating for the company in a research note on Tuesday, November 26th. CIBC cut Barrick Gold from a "sector outperform" rating to a "neutral" rating in a report on Monday, November 25th. Finally, Scotiabank lowered their price target on Barrick Gold from $24.00 to $23.00 and set a "sector outperform" rating for the company in a research note on Monday, November 25th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $25.60.

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.