Rathbones Group PLC Acquires 21,790 Shares of Barrick Gold Corp (NYSE:GOLD)

Rathbones Group PLC raised its stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 16.6% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 152,937 shares of the gold and copper producer’s stock after acquiring an additional 21,790 shares during the period. Rathbones Group PLC’s holdings in Barrick Gold were worth $2,551,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP lifted its position in Barrick Gold by 58.4% in the 4th quarter. Wellington Management Group LLP now owns 100,680,644 shares of the gold and copper producer’s stock valued at $1,821,963,000 after acquiring an additional 37,128,653 shares in the last quarter. First Eagle Investment Management LLC raised its stake in shares of Barrick Gold by 31.6% in the 1st quarter. First Eagle Investment Management LLC now owns 58,820,050 shares of the gold and copper producer’s stock valued at $978,766,000 after purchasing an additional 14,138,639 shares during the period. Capital World Investors lifted its holdings in shares of Barrick Gold by 16.4% in the fourth quarter. Capital World Investors now owns 45,479,229 shares of the gold and copper producer’s stock valued at $821,790,000 after purchasing an additional 6,417,244 shares in the last quarter. Ruffer LLP boosted its position in shares of Barrick Gold by 198.3% during the fourth quarter. Ruffer LLP now owns 9,606,218 shares of the gold and copper producer’s stock worth $173,727,000 after buying an additional 6,385,566 shares during the period. Finally, EdgePoint Investment Group Inc. grew its holdings in shares of Barrick Gold by 38.8% during the first quarter. EdgePoint Investment Group Inc. now owns 18,170,814 shares of the gold and copper producer’s stock worth $302,366,000 after buying an additional 5,080,510 shares in the last quarter. Institutional investors and hedge funds own 62.85% of the company’s stock.

Barrick Gold Stock Performance

GOLD opened at $20.52 on Tuesday. The stock has a market cap of $35.97 billion, a price-to-earnings ratio of 25.02, a PEG ratio of 0.49 and a beta of 0.55. 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 Corp has a 12-month low of $13.76 and a 12-month high of $21.13. The business has a 50 day moving average of $19.01 and a 200-day moving average of $17.51.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its quarterly earnings data 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 analysts’ expectations of $3.13 billion. Barrick Gold had a return on equity of 5.53% and a net margin of 12.78%. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.19 EPS. On average, equities research analysts expect that Barrick Gold Corp will post 1.22 earnings per share for the current year.

Barrick Gold Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GOLD. Jefferies Financial Group upped their price target on Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday. Argus upgraded shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a report on Thursday, August 29th. Scotiabank lifted their price target 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. CIBC increased their price objective on shares of Barrick Gold from $23.00 to $27.00 and gave the stock an “outperformer” rating in a research note on Wednesday, July 10th. Finally, Royal Bank of Canada lifted their target price on Barrick Gold from $21.00 to $22.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Barrick Gold presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.30.

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.