Norden Group LLC Purchases 398,805 Shares of Barrick Gold Corp (NYSE:GOLD)

Norden Group LLC lifted its stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 2,383.6% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 415,536 shares of the gold and copper producer’s stock after buying an additional 398,805 shares during the quarter. Norden Group LLC’s holdings in Barrick Gold were worth $6,915,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Addenda Capital Inc. lifted its holdings in shares of Barrick Gold by 88.1% in the fourth quarter. Addenda Capital Inc. now owns 3,105,335 shares of the gold and copper producer’s stock worth $56,176,000 after buying an additional 1,454,220 shares in the last quarter. 1832 Asset Management L.P. lifted its holdings in shares of Barrick Gold by 19.2% in the fourth quarter. 1832 Asset Management L.P. now owns 1,051,755 shares of the gold and copper producer’s stock worth $19,026,000 after buying an additional 169,350 shares in the last quarter. Klein Pavlis & Peasley Financial Inc. purchased a new position in shares of Barrick Gold in the fourth quarter worth $1,331,000. Corient Private Wealth LLC lifted its holdings in shares of Barrick Gold by 0.9% in the fourth quarter. Corient Private Wealth LLC now owns 123,651 shares of the gold and copper producer’s stock worth $2,237,000 after buying an additional 1,066 shares in the last quarter. Finally, DAVENPORT & Co LLC lifted its holdings in shares of Barrick Gold by 17.9% in the fourth quarter. DAVENPORT & Co LLC now owns 73,627 shares of the gold and copper producer’s stock worth $1,332,000 after buying an additional 11,166 shares in the last quarter. Hedge funds and other institutional investors own 62.85% of the company’s stock.

Barrick Gold Stock Performance

Shares of Barrick Gold stock opened at $17.30 on Friday. The firm has a market capitalization of $30.37 billion, a P/E ratio of 21.10, a PEG ratio of 0.47 and a beta of 0.51. The company has a quick ratio of 2.49, a current ratio of 3.32 and a debt-to-equity ratio of 0.15. The company has a 50 day moving average price of $16.86 and a 200 day moving average price of $16.47. Barrick Gold Corp has a 52 week low of $13.76 and a 52 week high of $18.95.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its quarterly earnings data on Wednesday, May 1st. The gold and copper producer reported $0.19 EPS for the quarter, beating the consensus estimate of $0.15 by $0.04. Barrick Gold had a net margin of 12.58% and a return on equity of 4.88%. The firm had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.74 billion. During the same period last year, the firm posted $0.14 EPS. Barrick Gold’s revenue was up 3.9% on a year-over-year basis. Sell-side analysts expect that Barrick Gold Corp will post 1.08 EPS for the current year.

Barrick Gold Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Friday, May 31st were given a dividend of $0.10 per share. The ex-dividend date was Friday, May 31st. This is a positive change from Barrick Gold’s previous quarterly dividend of $0.07. This represents a $0.40 dividend on an annualized basis and a yield of 2.31%. Barrick Gold’s dividend payout ratio (DPR) is currently 48.78%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on GOLD. BMO Capital Markets lowered their target price on shares of Barrick Gold from $27.00 to $26.00 and set an “outperform” rating on the stock in a report on Wednesday, April 17th. National Bank Financial reaffirmed a “sector perform overweight” rating on shares of Barrick Gold in a research note on Monday, April 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.60.

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.