Collective Family Office LLC lowered its position in Barrick Gold Corp (NYSE:GOLD – Free Report) (TSE:ABX) by 62.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,500 shares of the gold and copper producer’s stock after selling 37,020 shares during the quarter. Collective Family Office LLC’s holdings in Barrick Gold were worth $381,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. CoreCap Advisors LLC purchased a new position in Barrick Gold in the fourth quarter worth approximately $25,000. Venturi Wealth Management LLC purchased a new position in Barrick Gold in the first quarter worth approximately $32,000. Resurgent Financial Advisors LLC purchased a new position in Barrick Gold in the fourth quarter worth approximately $36,000. FWL Investment Management LLC purchased a new position in Barrick Gold in the fourth quarter worth approximately $36,000. Finally, Chilton Capital Management LLC purchased a new position in Barrick Gold in the first quarter worth approximately $37,000. Hedge funds and other institutional investors own 58.20% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on the stock. CSFB reduced their price objective on shares of Barrick Gold from $22.00 to $20.00 and set an “outperform” rating for the company in a research report on Thursday, August 17th. Cormark upgraded shares of Barrick Gold from a “market perform” rating to a “buy” rating in a research report on Wednesday, August 9th. Finally, BMO Capital Markets boosted their price objective on shares of Barrick Gold from $29.00 to $30.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 13th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $22.48.
Barrick Gold Price Performance
NYSE GOLD traded up $0.09 during trading hours on Monday, reaching $16.73. The company’s stock had a trading volume of 5,224,418 shares, compared to its average volume of 15,704,793. The stock has a market cap of $29.37 billion, a PE ratio of -416.00, a PEG ratio of 9.80 and a beta of 0.38. Barrick Gold Corp has a fifty-two week low of $13.01 and a fifty-two week high of $20.75. The company’s 50-day moving average is $16.54 and its two-hundred day moving average is $14.05. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.14 and a current ratio of 2.71.
Barrick Gold (NYSE:GOLD – Get Free Report) (TSE:ABX) last released its earnings results on Tuesday, August 8th. The gold and copper producer reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.02. The company had revenue of $2.83 billion for the quarter, compared to analyst estimates of $3.40 billion. Barrick Gold had a net margin of 1.06% and a return on equity of 3.46%. During the same period in the prior year, the firm earned $0.24 EPS. Analysts forecast that Barrick Gold Corp will post 0.98 EPS for the current year.
Barrick Gold Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Thursday, August 31st were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.39%. This is a positive change from Barrick Gold’s previous quarterly dividend of $0.07. The ex-dividend date was Wednesday, August 30th. Barrick Gold’s dividend payout ratio is -1,000.00%.
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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