Atomi Financial Group Inc. Buys New Position in Barrick Gold Corp (NYSE:GOLD)

Atomi Financial Group Inc. bought a new stake in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 18,262 shares of the gold and copper producer’s stock, valued at approximately $363,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Wellington Management Group LLP boosted its stake in Barrick Gold by 58.4% during 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 purchasing an additional 37,128,653 shares during the period. Vanguard Group Inc. boosted its stake in Barrick Gold by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 64,761,067 shares of the gold and copper producer’s stock valued at $1,077,624,000 after purchasing an additional 1,089,572 shares during the period. First Eagle Investment Management LLC boosted its stake in Barrick Gold by 31.6% during 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. EdgePoint Investment Group Inc. raised its holdings in Barrick Gold by 3.7% in the 2nd quarter. EdgePoint Investment Group Inc. now owns 18,837,028 shares of the gold and copper producer’s stock valued at $314,254,000 after acquiring an additional 666,214 shares in the last quarter. Finally, National Bank of Canada FI raised its holdings in Barrick Gold by 9.0% in the 1st quarter. National Bank of Canada FI now owns 14,887,656 shares of the gold and copper producer’s stock valued at $251,929,000 after acquiring an additional 1,231,184 shares in the last quarter. Institutional investors own 62.85% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the company. Argus raised Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a report on Thursday, August 29th. Scotiabank upped their price target on Barrick Gold from $23.00 to $25.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. CIBC upped their price target on Barrick Gold from $23.00 to $27.00 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. Raymond James cut their price target on Barrick Gold from $26.50 to $26.00 and set an “outperform” rating for the company in a report on Thursday, September 26th. Finally, Royal Bank of Canada upped their price target on Barrick Gold from $21.00 to $22.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Barrick Gold currently has an average rating of “Moderate Buy” and an average price target of $23.67.

Barrick Gold Trading Down 0.4 %

Shares of GOLD opened at $19.98 on Friday. Barrick Gold Corp has a 1 year low of $13.76 and a 1 year high of $21.21. The company has a current ratio of 3.01, a quick ratio of 2.31 and a debt-to-equity ratio of 0.15. The stock has a 50 day simple moving average of $19.70 and a 200-day simple moving average of $18.06. The stock has a market cap of $35.02 billion, a PE ratio of 24.37, a PEG ratio of 0.47 and a beta of 0.55.

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 analysts’ consensus estimates of $0.27 by $0.05. Barrick Gold had a return on equity of 5.53% and a net margin of 12.78%. The firm had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same period last year, the firm posted $0.19 EPS. The business’s revenue was up 11.6% on a year-over-year basis. On average, sell-side analysts predict that Barrick Gold Corp will post 1.27 EPS for the current fiscal year.

Barrick Gold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.40 dividend on an annualized basis and a yield of 2.00%. Barrick Gold’s dividend payout ratio is 48.78%.

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.