Gemsstock Ltd. Has $25.25 Million Stake in Barrick Gold Corp (NYSE:GOLD)

Gemsstock Ltd. grew its stake in shares of Barrick Gold Corp (NYSE:GOLD - Free Report) TSE: ABX by 69.1% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 1,269,600 shares of the gold and copper producer's stock after buying an additional 518,900 shares during the period. Barrick Gold makes up 12.2% of Gemsstock Ltd.'s investment portfolio, making the stock its 3rd biggest holding. Gemsstock Ltd. owned about 0.07% of Barrick Gold worth $25,252,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of GOLD. Exchange Traded Concepts LLC lifted its stake in 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 worth $28,000 after purchasing an additional 935 shares during the period. Clean Yield Group bought a new position in shares of Barrick Gold during the 1st quarter worth approximately $25,000. Eastern Bank acquired a new stake in Barrick Gold in the 3rd quarter valued at $32,000. Crewe Advisors LLC grew its position in 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 valued at $30,000 after acquiring an additional 1,572 shares during the period. Finally, JFS Wealth Advisors LLC raised its stake in Barrick Gold by 451.7% during the third quarter. JFS Wealth Advisors LLC now owns 1,909 shares of the gold and copper producer's stock worth $38,000 after acquiring an additional 1,563 shares in the last quarter. Institutional investors own 62.85% of the company's stock.

Barrick Gold Stock Up 1.4 %

Shares of NYSE GOLD traded up $0.25 during mid-day trading on Wednesday, hitting $17.97. The company had a trading volume of 14,416,086 shares, compared to its average volume of 21,473,213. The company has a current ratio of 2.65, a quick ratio of 2.06 and a debt-to-equity ratio of 0.14. The firm has a 50-day simple moving average of $19.61 and a two-hundred day simple moving average of $18.50. The company has a market capitalization of $31.41 billion, a PE ratio of 19.14, a price-to-earnings-growth ratio of 0.39 and a beta of 0.56. Barrick Gold Corp has a one year low of $13.76 and a one year high of $21.35.

Barrick Gold Dividend Announcement

The business also recently disclosed 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. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend is Friday, November 29th. Barrick Gold's dividend payout ratio is currently 43.01%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Jefferies Financial Group upped their target price on shares of Barrick Gold from $23.00 to $24.00 and gave the stock a "buy" rating in a report on Friday, September 13th. TD Securities lowered their price objective on Barrick Gold from $27.00 to $26.00 and set a "buy" rating for the company in a research report on Friday, November 8th. Scotiabank cut their target price 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. UBS Group cut shares of Barrick Gold from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $23.00 to $22.00 in a research report on Wednesday, October 30th. Finally, Argus upgraded shares of Barrick Gold from a "hold" rating to a "buy" rating and set a $24.00 price objective on the stock in a report on Thursday, August 29th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $23.90.

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.