Pacer Advisors Inc. acquired a new position in Barrick Gold Corp (NYSE:GOLD – Get Rating) (TSE:ABX) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,313 shares of the gold and copper producer’s stock, valued at approximately $229,000.
Other institutional investors have also bought and sold shares of the company. Asset Management One Co. Ltd. lifted its holdings in Barrick Gold by 53.2% in the 4th quarter. Asset Management One Co. Ltd. now owns 223,713 shares of the gold and copper producer’s stock valued at $3,859,000 after acquiring an additional 77,669 shares during the last quarter. Tradition Wealth Management LLC lifted its holdings in Barrick Gold by 285.3% in the 4th quarter. Tradition Wealth Management LLC now owns 9,656 shares of the gold and copper producer’s stock valued at $166,000 after acquiring an additional 7,150 shares during the last quarter. D.A. Davidson & CO. acquired a new stake in Barrick Gold in the 4th quarter valued at about $756,000. Mondrian Investment Partners LTD lifted its holdings in Barrick Gold by 4.1% in the 4th quarter. Mondrian Investment Partners LTD now owns 9,530,043 shares of the gold and copper producer’s stock valued at $163,726,000 after acquiring an additional 371,546 shares during the last quarter. Finally, Dfpg Investments LLC acquired a new stake in Barrick Gold in the 4th quarter valued at about $816,000. Institutional investors and hedge funds own 56.82% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on GOLD. National Bank Financial cut their price target on shares of Barrick Gold from C$29.00 to C$28.00 in a report on Thursday, February 23rd. The Goldman Sachs Group boosted their price objective on Barrick Gold from $19.00 to $22.00 and gave the stock a “neutral” rating in a report on Friday, April 21st. BNP Paribas downgraded Barrick Gold from an “outperform” rating to a “neutral” rating and set a $19.00 price objective on the stock. in a report on Monday, February 13th. Raymond James cut their price objective on Barrick Gold from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Thursday, February 16th. Finally, StockNews.com started coverage on Barrick Gold in a report on Thursday, March 16th. They set a “hold” rating on the stock. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $24.20.
Barrick Gold Trading Down 1.1 %
Barrick Gold (NYSE:GOLD – Get Rating) (TSE:ABX) last released its quarterly earnings data on Wednesday, May 3rd. The gold and copper producer reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.03. The firm had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.57 billion. Barrick Gold had a return on equity of 3.46% and a net margin of 1.06%. The firm’s revenue was down 7.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.26 earnings per share. On average, research analysts forecast that Barrick Gold Corp will post 0.94 EPS for the current fiscal year.
Barrick Gold Cuts Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Wednesday, May 31st will be given a dividend of $0.074 per share. The ex-dividend date of this dividend is Tuesday, May 30th. This represents a $0.30 dividend on an annualized basis and a yield of 1.47%. Barrick Gold’s payout ratio is currently 666.67%.
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.
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