Sienna Gestion Purchases New Holdings in Barrick Gold Corp (NYSE:GOLD)

Sienna Gestion acquired a new position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) in the second quarter, Holdings Channel reports. The fund acquired 13,300 shares of the gold and copper producer’s stock, valued at approximately $222,000.

Several other hedge funds and other institutional investors also recently modified their holdings of GOLD. Edge Wealth Management LLC raised its holdings in Barrick Gold by 6.3% during the first quarter. Edge Wealth Management LLC now owns 12,255 shares of the gold and copper producer’s stock worth $204,000 after purchasing an additional 725 shares in the last quarter. Greenleaf Trust lifted its holdings in shares of Barrick Gold by 3.5% in the 1st quarter. Greenleaf Trust now owns 25,119 shares of the gold and copper producer’s stock valued at $418,000 after buying an additional 838 shares during the period. DORCHESTER WEALTH MANAGEMENT Co boosted its stake in shares of Barrick Gold by 2.4% in the first quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 36,519 shares of the gold and copper producer’s stock valued at $608,000 after buying an additional 850 shares in the last quarter. Bangor Savings Bank grew its holdings in Barrick Gold by 4.4% during the second quarter. Bangor Savings Bank now owns 21,445 shares of the gold and copper producer’s stock worth $358,000 after acquiring an additional 904 shares during the period. Finally, S.A. Mason LLC grew its holdings in Barrick Gold by 3.5% during the first quarter. S.A. Mason LLC now owns 28,543 shares of the gold and copper producer’s stock worth $475,000 after acquiring an additional 973 shares during the period. 62.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Jefferies Financial Group boosted their target price on shares of Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Argus upgraded shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research report on Thursday, August 29th. Royal Bank of Canada lifted their price target on shares of Barrick Gold from $21.00 to $22.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. Scotiabank upped their price target on Barrick Gold from $23.00 to $25.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. Finally, CIBC lifted their price objective on Barrick Gold from $23.00 to $27.00 and gave the stock an “outperformer” rating in a report on Wednesday, July 10th. One investment 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, the company presently has an average rating of “Moderate Buy” and an average target price of $23.30.

Barrick Gold Price Performance

Shares of NYSE:GOLD opened at $20.24 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.49 and a current ratio of 3.01. The business’s fifty day moving average price is $19.16 and its two-hundred day moving average price is $17.59. The stock has a market cap of $35.48 billion, a PE ratio of 24.68, a price-to-earnings-growth ratio of 0.49 and a beta of 0.55. Barrick Gold Corp has a one year low of $13.76 and a one year high of $21.13.

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, topping analysts’ consensus estimates of $0.27 by $0.05. The firm 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 5.53% and a net margin of 12.78%. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.19 EPS. On average, analysts forecast that Barrick Gold Corp will post 1.22 EPS for the current fiscal year.

Barrick Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend was Friday, August 30th. Barrick Gold’s payout ratio is 48.78%.

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.