River Global Investors LLP Grows Stock Position in Barrick Gold Corp (NYSE:GOLD)

River Global Investors LLP boosted its stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 8.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 250,729 shares of the gold and copper producer’s stock after acquiring an additional 18,994 shares during the quarter. Barrick Gold comprises about 1.1% of River Global Investors LLP’s holdings, making the stock its 19th largest holding. River Global Investors LLP’s holdings in Barrick Gold were worth $4,982,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GOLD. Clean Yield Group purchased a new position in Barrick Gold in the 1st quarter worth approximately $25,000. Exchange Traded Concepts LLC boosted its stake in shares of Barrick Gold by 198.1% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,407 shares of the gold and copper producer’s stock valued at $28,000 after buying an additional 935 shares during the last quarter. Crewe Advisors LLC boosted its stake in shares of Barrick Gold by 628.8% during the 2nd quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer’s stock valued at $30,000 after buying an additional 1,572 shares during the last quarter. Jackson Grant Investment Advisers Inc. purchased a new position in shares of Barrick Gold during the 2nd quarter valued at approximately $32,000. Finally, Eastern Bank purchased a new position in shares of Barrick Gold during the 3rd quarter valued at approximately $32,000. Hedge funds and other institutional investors own 62.85% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on GOLD. Scotiabank reduced their target price on Barrick Gold from $25.00 to $24.00 and set a “sector outperform” rating for the company in a research note on Friday. Royal Bank of Canada increased their target price on Barrick Gold from $21.00 to $22.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. Raymond James reduced their target price on Barrick Gold from $26.50 to $26.00 and set an “outperform” rating for the company in a research note on Thursday, September 26th. Argus raised Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Thursday, August 29th. Finally, TD Securities dropped their price target on Barrick Gold from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $23.90.

Barrick Gold Stock Performance

NYSE GOLD traded down $0.08 during trading hours on Friday, hitting $18.40. The company had a trading volume of 27,997,677 shares, compared to its average volume of 20,466,004. Barrick Gold Corp has a fifty-two week low of $13.76 and a fifty-two week high of $21.35. The company has a quick ratio of 2.31, a current ratio of 3.01 and a debt-to-equity ratio of 0.15. The business has a fifty day simple moving average of $19.95 and a 200-day simple moving average of $18.46. The firm has a market cap of $32.16 billion, a P/E ratio of 21.40, a price-to-earnings-growth ratio of 0.43 and a beta of 0.56.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its 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 for the quarter, compared to analyst estimates of $3.13 billion. Barrick Gold had a return on equity of 5.53% and a net margin of 12.78%. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period last year, the company earned $0.19 earnings per share. Equities analysts predict that Barrick Gold Corp will post 1.29 EPS for the current year.

Barrick Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date is Friday, November 29th. Barrick Gold’s dividend payout ratio (DPR) is 46.51%.

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.