Barrick Gold Corp (NYSE:GOLD) Shares Purchased by River Global Investors LLP

River Global Investors LLP increased its stake in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 8.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 250,729 shares of the gold and copper producer’s stock after purchasing an additional 18,994 shares during the quarter. Barrick Gold accounts for approximately 1.1% of River Global Investors LLP’s holdings, making the stock its 19th biggest position. River Global Investors LLP’s holdings in Barrick Gold were worth $4,982,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. First Eagle Investment Management LLC lifted its holdings in Barrick Gold by 31.6% in the first quarter. First Eagle Investment Management LLC now owns 58,820,050 shares of the gold and copper producer’s stock valued at $978,766,000 after acquiring an additional 14,138,639 shares during the period. EdgePoint Investment Group Inc. lifted its holdings in Barrick Gold by 38.8% in the first quarter. EdgePoint Investment Group Inc. now owns 18,170,814 shares of the gold and copper producer’s stock valued at $302,366,000 after acquiring an additional 5,080,510 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Barrick Gold by 4,713.3% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,144,456 shares of the gold and copper producer’s stock valued at $69,141,000 after acquiring an additional 4,058,351 shares during the period. Letko Brosseau & Associates Inc. acquired a new stake in Barrick Gold in the second quarter valued at $66,820,000. Finally, Mizuho Markets Americas LLC acquired a new stake in Barrick Gold in the second quarter valued at $31,768,000. 62.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Argus upgraded Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research report on Thursday, August 29th. Raymond James dropped their price target on Barrick Gold from $26.50 to $26.00 and set an “outperform” rating for the company in a research report on Thursday, September 26th. UBS Group cut Barrick Gold from a “buy” rating to a “neutral” rating and dropped their price target for the company from $23.00 to $22.00 in a research report on Wednesday, October 30th. TD Securities dropped their price objective on Barrick Gold from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Friday. Finally, Jefferies Financial Group lifted their price objective on Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.90.

Barrick Gold Trading Down 0.4 %

GOLD traded down $0.08 during midday trading on Friday, hitting $18.40. The company’s stock had a trading volume of 27,997,677 shares, compared to its average volume of 20,466,004. The company has a current ratio of 3.01, a quick ratio of 2.31 and a debt-to-equity ratio of 0.15. The firm has a market cap of $32.16 billion, a P/E ratio of 21.40, a PEG ratio of 0.43 and a beta of 0.56. The firm has a 50-day moving average price of $19.95 and a two-hundred day moving average price of $18.46. Barrick Gold Corp has a 52-week low of $13.76 and a 52-week high of $21.35.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its quarterly earnings results on Monday, August 12th. The gold and copper producer reported $0.32 EPS for the quarter, beating the consensus estimate of $0.27 by $0.05. The company had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Barrick Gold had a return on equity of 5.53% and a net margin of 12.78%. The firm’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.19 EPS. On average, research analysts anticipate that Barrick Gold Corp will post 1.29 earnings per share for the current year.

Barrick Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Friday, November 29th. Barrick Gold’s dividend payout ratio is currently 46.51%.

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.