Mondrian Investment Partners LTD Boosts Stake in Barrick Gold Corp (NYSE:GOLD)

Mondrian Investment Partners LTD increased its stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 1.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,975,918 shares of the gold and copper producer’s stock after purchasing an additional 88,008 shares during the quarter. Mondrian Investment Partners LTD’s holdings in Barrick Gold were worth $110,614,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Edge Wealth Management LLC raised its stake in shares of Barrick Gold by 6.3% in the first quarter. Edge Wealth Management LLC now owns 12,255 shares of the gold and copper producer’s stock worth $204,000 after buying an additional 725 shares during the period. Greenleaf Trust lifted its holdings in Barrick Gold by 3.5% during the first quarter. Greenleaf Trust now owns 25,119 shares of the gold and copper producer’s stock valued at $418,000 after purchasing an additional 838 shares in the last quarter. DORCHESTER WEALTH MANAGEMENT Co boosted its position in shares of Barrick Gold by 2.4% in the first quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 36,519 shares of the gold and copper producer’s stock worth $608,000 after purchasing an additional 850 shares during the period. Bangor Savings Bank increased its stake in shares of Barrick Gold by 4.4% in the second quarter. Bangor Savings Bank now owns 21,445 shares of the gold and copper producer’s stock worth $358,000 after purchasing an additional 904 shares in the last quarter. Finally, S.A. Mason LLC lifted its stake in shares of Barrick Gold by 3.5% during the 1st quarter. S.A. Mason LLC now owns 28,543 shares of the gold and copper producer’s stock valued at $475,000 after buying an additional 973 shares in the last quarter. 62.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on GOLD shares. Jefferies Financial Group increased their price target on Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. CIBC lifted their target price on Barrick Gold from $23.00 to $27.00 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. Argus raised Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a report on Thursday, August 29th. Royal Bank of Canada increased their price objective on shares of Barrick Gold from $21.00 to $22.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Finally, Scotiabank raised their target price on shares of Barrick Gold from $23.00 to $25.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $23.30.

Barrick Gold Stock Performance

Shares of Barrick Gold stock opened at $20.47 on Wednesday. Barrick Gold Corp has a 52 week low of $13.76 and a 52 week high of $21.13. The company has a market capitalization of $35.88 billion, a PE ratio of 24.96, a price-to-earnings-growth ratio of 0.49 and a beta of 0.55. The stock’s fifty day moving average is $19.07 and its two-hundred day moving average is $17.55. The company has a quick ratio of 2.49, a current ratio of 3.01 and a debt-to-equity ratio of 0.15.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its quarterly earnings results on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.05. The firm had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Barrick Gold had a net margin of 12.78% and a return on equity of 5.53%. The company’s revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.19 EPS. As a group, analysts expect that Barrick Gold Corp will post 1.22 earnings per share for the current year.

Barrick Gold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were issued a $0.10 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.95%. Barrick Gold’s dividend payout ratio is presently 48.78%.

Barrick Gold 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.