Foundation Resource Management Inc. increased its position in shares of Barrick Gold Corp (NYSE:GOLD – Free Report) (TSE:ABX) by 1.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 708,066 shares of the gold and copper producer’s stock after acquiring an additional 8,949 shares during the quarter. Barrick Gold accounts for about 2.0% of Foundation Resource Management Inc.’s holdings, making the stock its 20th largest position. Foundation Resource Management Inc.’s holdings in Barrick Gold were worth $11,988,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the company. Vanguard Personalized Indexing Management LLC grew its stake in Barrick Gold by 2.4% during the 1st quarter. Vanguard Personalized Indexing Management LLC now owns 22,190 shares of the gold and copper producer’s stock valued at $412,000 after acquiring an additional 514 shares in the last quarter. MGO One Seven LLC grew its position in Barrick Gold by 4.7% during the first quarter. MGO One Seven LLC now owns 12,849 shares of the gold and copper producer’s stock valued at $239,000 after purchasing an additional 582 shares in the last quarter. Allworth Financial LP increased its stake in Barrick Gold by 41.7% in the 1st quarter. Allworth Financial LP now owns 2,088 shares of the gold and copper producer’s stock valued at $39,000 after buying an additional 614 shares during the period. ClariVest Asset Management LLC lifted its position in Barrick Gold by 0.3% in the 1st quarter. ClariVest Asset Management LLC now owns 205,860 shares of the gold and copper producer’s stock worth $3,817,000 after buying an additional 640 shares in the last quarter. Finally, Cigna Investments Inc. New boosted its stake in shares of Barrick Gold by 2.6% during the 1st quarter. Cigna Investments Inc. New now owns 25,896 shares of the gold and copper producer’s stock valued at $480,000 after buying an additional 648 shares during the period. Hedge funds and other institutional investors own 58.20% of the company’s stock.
Barrick Gold Stock Performance
Barrick Gold stock traded down $0.46 during trading hours on Tuesday, reaching $16.22. 5,623,205 shares of the company were exchanged, compared to its average volume of 15,665,108. Barrick Gold Corp has a 12 month low of $13.01 and a 12 month high of $20.75. The firm has a market cap of $28.47 billion, a price-to-earnings ratio of -417.00, a PEG ratio of 9.80 and a beta of 0.38. The company has a current ratio of 2.71, a quick ratio of 2.14 and a debt-to-equity ratio of 0.15. The stock has a 50-day moving average of $16.54 and a 200 day moving average of $14.05.
Barrick Gold Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 31st were paid a $0.10 dividend. The ex-dividend date of this dividend was Wednesday, August 30th. This is a positive change from Barrick Gold’s previous quarterly dividend of $0.07. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.47%. Barrick Gold’s payout ratio is presently -1,000.00%.
Analysts Set New Price Targets
A number of equities analysts have recently weighed in on GOLD shares. BMO Capital Markets upped their price target on shares of Barrick Gold from $29.00 to $30.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 13th. CSFB cut their price target on Barrick Gold from $22.00 to $20.00 and set an “outperform” rating for the company in a research note on Thursday, August 17th. Finally, Cormark upgraded Barrick Gold from a “market perform” rating to a “buy” rating in a report on Wednesday, August 9th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $22.48.
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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