Oppenheimer Asset Management Inc. Reduces Stock Position in Barrick Gold Corp (NYSE:GOLD)

Oppenheimer Asset Management Inc. cut its stake in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 0.9% in the third quarter, Holdings Channel.com reports. The institutional investor owned 340,996 shares of the gold and copper producer’s stock after selling 2,926 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Barrick Gold were worth $6,782,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sei Investments Co. grew its stake in shares of Barrick Gold by 9.5% during the 1st quarter. Sei Investments Co. now owns 685,876 shares of the gold and copper producer’s stock valued at $11,413,000 after purchasing an additional 59,456 shares during the period. Bleakley Financial Group LLC increased its holdings in Barrick Gold by 10.3% during the first quarter. Bleakley Financial Group LLC now owns 24,121 shares of the gold and copper producer’s stock valued at $401,000 after buying an additional 2,245 shares during the last quarter. Kingsview Wealth Management LLC bought a new position in Barrick Gold in the first quarter worth approximately $190,000. Orion Portfolio Solutions LLC boosted its stake in shares of Barrick Gold by 6.0% during the 1st quarter. Orion Portfolio Solutions LLC now owns 82,133 shares of the gold and copper producer’s stock worth $1,367,000 after acquiring an additional 4,652 shares during the last quarter. Finally, Tocqueville Asset Management L.P. boosted its stake in shares of Barrick Gold by 30.0% during the 1st quarter. Tocqueville Asset Management L.P. now owns 324,634 shares of the gold and copper producer’s stock worth $5,402,000 after acquiring an additional 74,995 shares during the last quarter. 62.85% of the stock is owned by institutional investors.

Barrick Gold Trading Up 0.4 %

Shares of Barrick Gold stock opened at $16.85 on Friday. Barrick Gold Corp has a twelve month low of $13.76 and a twelve month high of $21.35. The company has a quick ratio of 2.06, a current ratio of 2.65 and a debt-to-equity ratio of 0.14. The business has a 50-day moving average price of $19.79 and a 200-day moving average price of $18.48. The firm has a market cap of $29.45 billion, a price-to-earnings ratio of 18.12, a PEG ratio of 0.40 and a beta of 0.56.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its quarterly earnings results on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.05. The business had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Barrick Gold had a return on equity of 5.82% and a net margin of 13.19%. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.19 EPS. Equities research analysts anticipate that Barrick Gold Corp will post 1.29 EPS for the current fiscal year.

Barrick Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend is Friday, November 29th. Barrick Gold’s dividend payout ratio is presently 43.01%.

Analyst Ratings Changes

GOLD has been the topic of a number of recent research reports. Raymond James decreased their target price on Barrick Gold from $26.50 to $26.00 and set an “outperform” rating on the stock in a report on Thursday, September 26th. Jefferies Financial Group lifted their price objective on Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, September 13th. TD Securities cut their price objective on Barrick Gold from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Scotiabank decreased their target price on shares of Barrick Gold from $25.00 to $24.00 and set a “sector outperform” rating on the stock in a research note on Friday, November 8th. Finally, UBS Group lowered shares of Barrick Gold from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $23.00 to $22.00 in a research report on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $23.90.

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.