Russell Investments Group Ltd. lifted its position in shares of Barrick Gold Corp (NYSE:GOLD – Free Report) (TSE:ABX) by 42.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,379,622 shares of the gold and copper producer’s stock after buying an additional 705,718 shares during the period. Russell Investments Group Ltd. owned approximately 0.14% of Barrick Gold worth $40,285,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Venturi Wealth Management LLC purchased a new position in Barrick Gold in the 1st quarter valued at about $32,000. Fairfield Bush & CO. bought a new position in shares of Barrick Gold during the first quarter worth about $42,000. HM Payson & Co. lifted its position in shares of Barrick Gold by 58.2% during the second quarter. HM Payson & Co. now owns 1,740 shares of the gold and copper producer’s stock worth $29,000 after purchasing an additional 640 shares during the last quarter. RFP Financial Group LLC bought a new position in shares of Barrick Gold during the second quarter worth about $30,000. Finally, Graham Capital Wealth Management LLC bought a new position in shares of Barrick Gold during the first quarter worth about $340,574,000. 58.20% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several brokerages have recently commented on GOLD. BMO Capital Markets reduced their price target on shares of Barrick Gold from $31.00 to $30.00 and set an “outperform” rating on the stock in a research report on Friday, October 13th. TD Securities reduced their price target on shares of Barrick Gold from $25.00 to $22.00 and set a “buy” rating on the stock in a research report on Monday, November 6th. Cormark raised shares of Barrick Gold from a “market perform” rating to a “buy” rating in a research report on Wednesday, August 9th. CSFB dropped their price objective on shares of Barrick Gold from $22.00 to $20.00 and set an “outperform” rating on the stock in a research note on Thursday, August 17th. Finally, Raymond James dropped their price objective on shares of Barrick Gold from $26.00 to $25.00 and set an “outperform” rating on the stock in a research note on Friday, October 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.31.
Barrick Gold Price Performance
Shares of NYSE:GOLD opened at $15.71 on Friday. The firm’s 50 day moving average is $15.71 and its two-hundred day moving average is $15.53. The company has a current ratio of 3.07, a quick ratio of 2.28 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $27.58 billion, a P/E ratio of 523.67, a PEG ratio of 1.51 and a beta of 0.46. Barrick Gold Corp has a 52 week low of $13.82 and a 52 week high of $20.75.
Barrick Gold (NYSE:GOLD – Get Free Report) (TSE:ABX) last posted its quarterly earnings data on Thursday, November 2nd. The gold and copper producer reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. Barrick Gold had a return on equity of 3.88% and a net margin of 0.52%. The company had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.93 billion. During the same quarter in the previous year, the business earned $0.13 EPS. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. Analysts anticipate that Barrick Gold Corp will post 0.82 earnings per share for the current year.
Barrick Gold Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $0.40 annualized dividend and a dividend yield of 2.55%. Barrick Gold’s dividend payout ratio (DPR) is 1,333.33%.
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.
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