Raymond James Trust N.A. bought a new position in Barrick Gold Corp (NYSE:GOLD – Get Rating) (TSE:ABX) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 13,514 shares of the gold and copper producer's stock, valued at approximately $239,000.
Other hedge funds also recently bought and sold shares of the company. Stansberry Asset Management LLC boosted its holdings in shares of Barrick Gold by 4.5% during the 1st quarter. Stansberry Asset Management LLC now owns 717,982 shares of the gold and copper producer's stock valued at $17,612,000 after purchasing an additional 30,751 shares during the last quarter. Oppenheimer & Co. Inc. boosted its holdings in shares of Barrick Gold by 25.2% during the 1st quarter. Oppenheimer & Co. Inc. now owns 182,142 shares of the gold and copper producer's stock valued at $4,468,000 after purchasing an additional 36,711 shares during the last quarter. Butensky & Cohen Financial Security Inc. boosted its holdings in shares of Barrick Gold by 1.6% during the 1st quarter. Butensky & Cohen Financial Security Inc. now owns 113,307 shares of the gold and copper producer's stock valued at $2,779,000 after purchasing an additional 1,770 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Barrick Gold by 7.2% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 119,858 shares of the gold and copper producer's stock valued at $2,940,000 after purchasing an additional 8,043 shares during the last quarter. Finally, Annex Advisory Services LLC boosted its holdings in shares of Barrick Gold by 1.4% during the 1st quarter. Annex Advisory Services LLC now owns 154,808 shares of the gold and copper producer's stock valued at $3,797,000 after purchasing an additional 2,145 shares during the last quarter. Institutional investors own 58.03% of the company's stock.
Get Barrick Gold alerts:Analysts Set New Price Targets
A number of brokerages recently commented on GOLD. BMO Capital Markets increased their price target on shares of Barrick Gold from $27.00 to $28.00 and gave the company an "outperform" rating in a report on Tuesday, August 9th. National Bank Financial lowered their price target on shares of Barrick Gold from C$34.00 to C$26.00 in a report on Thursday, July 21st. TheStreet downgraded shares of Barrick Gold from a "b-" rating to a "c+" rating in a report on Friday, July 29th. The Goldman Sachs Group assumed coverage on shares of Barrick Gold in a report on Monday, September 12th. They issued a "neutral" rating and a $18.00 price target for the company. Finally, Stifel Nicolaus reduced their price objective on shares of Barrick Gold from C$41.00 to C$35.25 in a research report on Wednesday, July 20th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $27.17.
Barrick Gold Stock Performance
Shares of NYSE:GOLD opened at $14.95 on Thursday. The firm has a market cap of $26.42 billion, a PE ratio of 13.23, a price-to-earnings-growth ratio of 6.92 and a beta of 0.33. The firm's 50 day simple moving average is $15.57 and its 200-day simple moving average is $19.35. Barrick Gold Corp has a one year low of $13.97 and a one year high of $26.07. The company has a debt-to-equity ratio of 0.16, a quick ratio of 3.19 and a current ratio of 3.95.Barrick Gold (NYSE:GOLD – Get Rating) (TSE:ABX) last issued its earnings results on Monday, August 8th. The gold and copper producer reported $0.24 EPS for the quarter, topping analysts' consensus estimates of $0.22 by $0.02. The business had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.85 billion. Barrick Gold had a net margin of 16.87% and a return on equity of 5.95%. The company's quarterly revenue was down 1.2% compared to the same quarter last year. During the same period last year, the company posted $0.29 earnings per share. As a group, equities analysts predict that Barrick Gold Corp will post 1.02 EPS for the current year.
Barrick Gold Cuts Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were issued a dividend of $0.156 per share. This represents a $0.62 annualized dividend and a yield of 4.17%. The ex-dividend date was Tuesday, August 30th. Barrick Gold's payout ratio is 35.40%.
About Barrick Gold
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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.
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