Lynx Investment Advisory Invests $160,000 in Barrick Gold Corp (NYSE:GOLD)

Lynx Investment Advisory acquired a new position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 9,578 shares of the gold and copper producer’s stock, valued at approximately $160,000.

Several other institutional investors and hedge funds also recently made changes to their positions in GOLD. Global Retirement Partners LLC increased its stake in Barrick Gold by 15.3% in the first quarter. Global Retirement Partners LLC now owns 5,434 shares of the gold and copper producer’s stock valued at $90,000 after acquiring an additional 721 shares during the period. Edge Wealth Management LLC increased its stake in Barrick Gold by 6.3% in the first quarter. Edge Wealth Management LLC now owns 12,255 shares of the gold and copper producer’s stock valued at $204,000 after acquiring an additional 725 shares during the period. Greenleaf Trust increased its stake in Barrick Gold by 3.5% in the first quarter. Greenleaf Trust now owns 25,119 shares of the gold and copper producer’s stock valued at $418,000 after acquiring an additional 838 shares during the period. DORCHESTER WEALTH MANAGEMENT Co increased its stake in Barrick Gold by 2.4% in the first quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 36,519 shares of the gold and copper producer’s stock valued at $608,000 after acquiring an additional 850 shares during the period. Finally, S.A. Mason LLC increased its stake in Barrick Gold by 3.5% in the first quarter. S.A. Mason LLC now owns 28,543 shares of the gold and copper producer’s stock valued at $475,000 after acquiring an additional 973 shares during the period. Institutional investors own 62.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on GOLD. National Bank Financial reissued a “sector perform overweight” rating on shares of Barrick Gold in a research note on Monday, April 8th. CIBC boosted their price target on shares of Barrick Gold from $23.00 to $27.00 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. Jefferies Financial Group boosted their price target on shares of Barrick Gold from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, July 12th. Finally, BMO Capital Markets reduced their price target on shares of Barrick Gold from $27.00 to $26.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.20.

Barrick Gold Price Performance

Shares of GOLD stock traded up $0.22 during trading hours on Tuesday, reaching $17.40. 27,461,677 shares of the company were exchanged, compared to its average volume of 21,788,064. Barrick Gold Corp has a fifty-two week low of $13.76 and a fifty-two week high of $19.45. The stock’s fifty day moving average is $17.33 and its two-hundred day moving average is $16.56. The company has a market cap of $30.50 billion, a price-to-earnings ratio of 21.18, a P/E/G ratio of 0.48 and a beta of 0.51. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.32 and a quick ratio of 2.49.

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.