Confluence Investment Management LLC boosted its holdings in shares of Barrick Gold Corp (NYSE:GOLD – Get Rating) (TSE:ABX) by 22.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 19,839 shares of the gold and copper producer’s stock after buying an additional 3,581 shares during the period. Confluence Investment Management LLC’s holdings in Barrick Gold were worth $351,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. MAI Capital Management purchased a new stake in Barrick Gold during the fourth quarter valued at about $268,000. Ensign Peak Advisors Inc increased its holdings in shares of Barrick Gold by 2.6% in the fourth quarter. Ensign Peak Advisors Inc now owns 85,920 shares of the gold and copper producer’s stock worth $1,636,000 after buying an additional 2,200 shares during the period. Level Four Advisory Services LLC increased its holdings in shares of Barrick Gold by 5.4% in the fourth quarter. Level Four Advisory Services LLC now owns 27,584 shares of the gold and copper producer’s stock worth $524,000 after buying an additional 1,419 shares during the period. Geode Capital Management LLC increased its holdings in shares of Barrick Gold by 7.2% in the fourth quarter. Geode Capital Management LLC now owns 4,881,364 shares of the gold and copper producer’s stock worth $92,784,000 after buying an additional 329,820 shares during the period. Finally, Alberta Investment Management Corp increased its holdings in shares of Barrick Gold by 3.8% in the fourth quarter. Alberta Investment Management Corp now owns 2,059,200 shares of the gold and copper producer’s stock worth $39,189,000 after buying an additional 75,200 shares during the period. Institutional investors own 58.03% of the company’s stock.
Analysts Set New Price Targets
GOLD has been the topic of several analyst reports. Barclays decreased their price objective on Barrick Gold from $28.00 to $25.00 and set an “overweight” rating on the stock in a report on Tuesday, July 19th. Stifel Nicolaus reduced their price target on Barrick Gold from C$41.00 to C$35.25 in a research note on Wednesday, July 20th. TheStreet cut Barrick Gold from a “b-” rating to a “c+” rating in a research note on Friday, July 29th. The Goldman Sachs Group initiated coverage on Barrick Gold in a report on Monday, September 12th. They issued a “neutral” rating and a $18.00 price objective for the company. Finally, Fundamental Research reiterated a “buy” rating and issued a $23.42 price objective (down from $26.11) on shares of Barrick Gold in a report on Tuesday, August 16th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.17.
Barrick Gold Stock Up 1.1 %
Barrick Gold (NYSE:GOLD – Get Rating) (TSE:ABX) last released its earnings results on Monday, August 8th. The gold and copper producer reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.02. Barrick Gold had a net margin of 16.87% and a return on equity of 5.95%. The firm had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.85 billion. During the same quarter last year, the business earned $0.29 EPS. The business’s revenue was down 1.2% on a year-over-year basis. Research analysts predict that Barrick Gold Corp will post 1.02 EPS for the current fiscal year.
Barrick Gold Cuts Dividend
The business 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. The ex-dividend date was Tuesday, August 30th. This represents a $0.62 dividend on an annualized basis and a yield of 4.08%. Barrick Gold’s payout ratio is 72.57%.
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.
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