Bleakley Financial Group LLC Acquires 2,551 Shares of Barrick Gold Corp (NYSE:GOLD)

Bleakley Financial Group LLC boosted its stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 13.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,876 shares of the gold and copper producer’s stock after purchasing an additional 2,551 shares during the quarter. Bleakley Financial Group LLC’s holdings in Barrick Gold were worth $396,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of GOLD. Wellington Management Group LLP raised its stake in Barrick Gold by 35.0% in the third quarter. Wellington Management Group LLP now owns 63,551,991 shares of the gold and copper producer’s stock valued at $925,121,000 after purchasing an additional 16,485,756 shares in the last quarter. Snider Financial Group acquired a new position in Barrick Gold in the first quarter valued at about $185,000. BlackRock Inc. raised its stake in Barrick Gold by 13.9% in the first quarter. BlackRock Inc. now owns 42,464,736 shares of the gold and copper producer’s stock valued at $788,570,000 after purchasing an additional 5,188,456 shares in the last quarter. FMR LLC raised its stake in Barrick Gold by 12.2% in the third quarter. FMR LLC now owns 43,399,480 shares of the gold and copper producer’s stock valued at $631,228,000 after purchasing an additional 4,731,559 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD acquired a new position in Barrick Gold during the first quarter worth about $53,227,000. Institutional investors and hedge funds own 62.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on GOLD shares. National Bank Financial reissued a “sector perform overweight” rating on shares of Barrick Gold in a research note on Monday, April 8th. TD Securities lowered their target price on Barrick Gold from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Friday, February 16th. Sanford C. Bernstein downgraded Barrick Gold from an “outperform” rating to a “market perform” rating in a research note on Monday, January 8th. CIBC lowered their target price on Barrick Gold from $27.00 to $23.00 and set an “outperform” rating for the company in a research note on Wednesday, February 7th. Finally, Scotiabank lowered their price objective on Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating for the company in a research note on Tuesday, February 20th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.05.

Barrick Gold Stock Performance

Shares of GOLD stock opened at $17.86 on Monday. The business’s 50 day simple moving average is $15.71 and its 200 day simple moving average is $16.16. Barrick Gold Corp has a one year low of $13.76 and a one year high of $20.75. The stock has a market capitalization of $31.36 billion, a PE ratio of 24.81, a PEG ratio of 1.63 and a beta of 0.58. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.16 and a quick ratio of 2.40.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its earnings results on Wednesday, February 14th. The gold and copper producer reported $0.27 EPS for the quarter, beating the consensus estimate of $0.21 by $0.06. The business had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.13 billion. Barrick Gold had a return on equity of 4.64% and a net margin of 11.16%. During the same period in the prior year, the business posted $0.13 earnings per share. As a group, research analysts forecast that Barrick Gold Corp will post 0.91 earnings per share for the current year.

Barrick Gold Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were issued a dividend of $0.074 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend was Wednesday, February 28th. Barrick Gold’s payout ratio is 55.56%.

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.