Highland Capital Management LLC Purchases 34,055 Shares of Barrick Gold Corp (NYSE:GOLD)

Highland Capital Management LLC grew its stake in Barrick Gold Corp (NYSE:GOLD - Free Report) TSE: ABX by 82.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 75,584 shares of the gold and copper producer's stock after purchasing an additional 34,055 shares during the period. Highland Capital Management LLC's holdings in Barrick Gold were worth $1,172,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Ritholtz Wealth Management grew its holdings in shares of Barrick Gold by 2.8% during the third quarter. Ritholtz Wealth Management now owns 18,163 shares of the gold and copper producer's stock worth $361,000 after buying an additional 502 shares in the last quarter. Greenleaf Trust lifted its stake in Barrick Gold by 2.1% in the 3rd quarter. Greenleaf Trust now owns 25,659 shares of the gold and copper producer's stock valued at $510,000 after acquiring an additional 540 shares in the last quarter. Moors & Cabot Inc. boosted its position in Barrick Gold by 0.9% during the 3rd quarter. Moors & Cabot Inc. now owns 64,085 shares of the gold and copper producer's stock worth $1,275,000 after acquiring an additional 579 shares during the last quarter. Chelsea Counsel Co. grew its stake in shares of Barrick Gold by 1.4% during the 3rd quarter. Chelsea Counsel Co. now owns 42,973 shares of the gold and copper producer's stock worth $855,000 after acquiring an additional 590 shares in the last quarter. Finally, Silverlake Wealth Management LLC raised its holdings in shares of Barrick Gold by 1.3% in the third quarter. Silverlake Wealth Management LLC now owns 49,890 shares of the gold and copper producer's stock valued at $992,000 after purchasing an additional 628 shares during the last quarter. Institutional investors and hedge funds own 62.85% of the company's stock.

Barrick Gold Stock Performance

GOLD stock traded down $0.19 during midday trading on Friday, reaching $16.38. 25,834,756 shares of the company were exchanged, compared to its average volume of 19,171,822. Barrick Gold Corp has a one year low of $13.76 and a one year high of $21.35. The firm has a market capitalization of $28.30 billion, a price-to-earnings ratio of 17.62, a price-to-earnings-growth ratio of 0.35 and a beta of 0.54. The business has a 50-day moving average price of $16.29 and a two-hundred day moving average price of $18.25. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.65 and a quick ratio of 2.06.

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. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a yield of 2.44%. Barrick Gold's dividend payout ratio (DPR) is currently 43.01%.

Analysts Set New Price Targets

A number of research firms recently weighed in on GOLD. Berenberg Bank raised their target price on shares of Barrick Gold from $37.00 to $38.00 in a research report on Tuesday, November 26th. Scotiabank cut Barrick Gold from an "outperform" rating to a "sector perform" rating and decreased their price objective for the company from $23.00 to $19.00 in a report on Thursday. Cibc World Mkts downgraded Barrick Gold from a "strong-buy" rating to a "hold" rating in a research report on Monday, November 25th. UBS Group cut 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. Finally, Citigroup lowered their price target on Barrick Gold from $23.00 to $17.00 and set a "neutral" rating on the stock in a research report on Friday, December 20th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $23.92.

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.