Confluence Investment Management LLC Purchases 1,975 Shares of Barrick Gold Corp (NYSE:GOLD)

Confluence Investment Management LLC boosted its position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 7.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 27,092 shares of the gold and copper producer’s stock after purchasing an additional 1,975 shares during the period. Confluence Investment Management LLC’s holdings in Barrick Gold were worth $452,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of GOLD. Global Retirement Partners LLC grew its holdings in Barrick Gold by 15.3% during 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 purchasing an additional 721 shares during the period. Edge Wealth Management LLC lifted its position in shares of 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 worth $204,000 after purchasing an additional 725 shares in the last quarter. Greenleaf Trust lifted its position in shares of Barrick Gold by 3.5% in the first quarter. Greenleaf Trust now owns 25,119 shares of the gold and copper producer’s stock worth $418,000 after purchasing an additional 838 shares in the last quarter. DORCHESTER WEALTH MANAGEMENT Co lifted its position in shares of 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 worth $608,000 after purchasing an additional 850 shares in the last quarter. Finally, S.A. Mason LLC lifted its position in shares of 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 worth $475,000 after purchasing an additional 973 shares in the last quarter. 62.85% of the stock is owned by institutional investors.

Barrick Gold Price Performance

NYSE GOLD traded down $0.73 on Monday, hitting $17.18. The stock had a trading volume of 12,560,773 shares, compared to its average volume of 21,665,162. Barrick Gold Corp has a 52-week low of $13.76 and a 52-week high of $19.45. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.49 and a current ratio of 3.32. The company has a market capitalization of $30.11 billion, a price-to-earnings ratio of 21.84, a price-to-earnings-growth ratio of 0.48 and a beta of 0.51. The firm has a 50-day moving average of $17.33 and a 200-day moving average of $16.54.

Wall Street Analyst Weigh In

Several analysts have issued reports on GOLD shares. BMO Capital Markets dropped 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. CIBC upped their price target on shares of Barrick Gold from $23.00 to $27.00 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. National Bank Financial reiterated a “sector perform overweight” rating on shares of Barrick Gold in a research note on Monday, April 8th. Finally, Jefferies Financial Group increased their price objective on shares of Barrick Gold from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. One analyst has rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $22.20.

About Barrick Gold

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.