Principal Financial Group Inc. Boosts Position in Barrick Gold Corp (NYSE:GOLD)

Principal Financial Group Inc. grew its holdings in shares of Barrick Gold Corp (NYSE:GOLD - Free Report) TSE: ABX by 19.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 483,613 shares of the gold and copper producer's stock after buying an additional 80,366 shares during the period. Principal Financial Group Inc.'s holdings in Barrick Gold were worth $9,630,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Inspire Trust Co. N.A. raised its stake in Barrick Gold by 25.2% in the third quarter. Inspire Trust Co. N.A. now owns 49,700 shares of the gold and copper producer's stock worth $989,000 after buying an additional 10,000 shares in the last quarter. Synovus Financial Corp bought a new stake in Barrick Gold during the 3rd quarter valued at approximately $210,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Barrick Gold during the 3rd quarter worth approximately $517,000. Chelsea Counsel Co. raised its position in shares of Barrick Gold by 1.4% in 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, Bard Financial Services Inc. lifted its stake in shares of Barrick Gold by 3.5% in the 3rd quarter. Bard Financial Services Inc. now owns 55,875 shares of the gold and copper producer's stock valued at $1,111,000 after purchasing an additional 1,875 shares during the period. Institutional investors own 62.85% of the company's stock.

Barrick Gold Stock Up 0.3 %

GOLD stock traded up $0.04 during midday trading on Tuesday, hitting $15.50. The company's stock had a trading volume of 13,714,389 shares, compared to its average volume of 21,247,277. The company has a market cap of $26.99 billion, a PE ratio of 16.67, a P/E/G ratio of 0.47 and a beta of 0.53. The firm's 50-day moving average is $17.49 and its 200-day moving average is $18.45. Barrick Gold Corp has a 12 month low of $13.76 and a 12 month high of $21.35. 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were issued 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 2.58%. Barrick Gold's payout ratio is 43.01%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Royal Bank of Canada upped their price target on Barrick Gold from $21.00 to $22.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 10th. Citigroup reduced their target price on shares of Barrick Gold from $23.00 to $17.00 and set a "neutral" rating on the stock in a research report on Friday, December 20th. Berenberg Bank lifted their price target on shares of Barrick Gold from $37.00 to $38.00 in a research report on Tuesday, November 26th. CIBC cut shares of Barrick Gold from a "sector outperform" rating to a "neutral" rating in a report on Monday, November 25th. Finally, Raymond James decreased their target price on shares of Barrick Gold from $26.00 to $25.00 and set an "outperform" rating for the company in a research note on Monday, November 25th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $24.82.

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.