Barrick Gold Corp (NYSE:GOLD) Shares Bought by AQR Capital Management LLC

AQR Capital Management LLC boosted its holdings in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 24.8% during the second quarter, Holdings Channel.com reports. The institutional investor owned 43,901 shares of the gold and copper producer’s stock after buying an additional 8,712 shares during the period. AQR Capital Management LLC’s holdings in Barrick Gold were worth $732,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in GOLD. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Barrick Gold by 4,713.3% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,144,456 shares of the gold and copper producer’s stock valued at $69,141,000 after purchasing an additional 4,058,351 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of Barrick Gold by 73.3% in the 2nd quarter. Marshall Wace LLP now owns 467,220 shares of the gold and copper producer’s stock valued at $7,793,000 after purchasing an additional 197,613 shares in the last quarter. Cheviot Value Management LLC acquired a new stake in shares of Barrick Gold in the 2nd quarter valued at $15,199,000. 1832 Asset Management L.P. raised its holdings in shares of Barrick Gold by 35.5% in the 2nd quarter. 1832 Asset Management L.P. now owns 1,476,704 shares of the gold and copper producer’s stock valued at $24,631,000 after purchasing an additional 386,849 shares in the last quarter. Finally, Ensign Peak Advisors Inc raised its holdings in shares of Barrick Gold by 3.1% in the 2nd quarter. Ensign Peak Advisors Inc now owns 130,120 shares of the gold and copper producer’s stock valued at $2,250,000 after purchasing an additional 3,900 shares in the last quarter. 62.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GOLD. CIBC raised their price objective on shares of Barrick Gold from $23.00 to $27.00 and gave the stock an “outperformer” rating in a research report on Wednesday, July 10th. Royal Bank of Canada boosted their price objective on shares of Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Jefferies Financial Group upped their price target on shares of Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a report on Friday, September 13th. Raymond James reduced their price target on shares of Barrick Gold from $26.50 to $26.00 and set an “outperform” rating on the stock in a report on Thursday, September 26th. Finally, Argus raised shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Thursday, August 29th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Barrick Gold currently has a consensus rating of “Moderate Buy” and an average target price of $23.67.

Barrick Gold Price Performance

Shares of GOLD stock opened at $19.99 on Monday. Barrick Gold Corp has a 12-month low of $13.76 and a 12-month high of $21.21. The firm has a market capitalization of $35.04 billion, a price-to-earnings ratio of 24.38, a price-to-earnings-growth ratio of 0.47 and a beta of 0.55. 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 firm has a fifty day moving average of $19.74 and a 200-day moving average of $18.12.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its quarterly earnings data on Monday, August 12th. The gold and copper producer reported $0.32 EPS for the quarter, beating the consensus estimate of $0.27 by $0.05. Barrick Gold had a net margin of 12.78% and a return on equity of 5.53%. The business had revenue of $3.16 billion for the quarter, compared to analysts’ expectations of $3.13 billion. During the same period in the previous year, the firm posted $0.19 EPS. The firm’s revenue was up 11.6% compared to the same quarter last year. On average, equities research analysts forecast that Barrick Gold Corp will post 1.27 earnings per share for the current year.

Barrick Gold Announces Dividend

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