Barrick Gold Corp (NYSE:GOLD) Shares Sold by Seven Eight Capital LP

Seven Eight Capital LP reduced its position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 47.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 20,527 shares of the gold and copper producer’s stock after selling 18,634 shares during the quarter. Seven Eight Capital LP’s holdings in Barrick Gold were worth $342,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Edge Wealth Management LLC raised its position in shares of Barrick Gold by 6.3% during the 1st quarter. Edge Wealth Management LLC now owns 12,255 shares of the gold and copper producer’s stock valued at $204,000 after buying an additional 725 shares during the period. Greenleaf Trust raised its position in Barrick Gold by 3.5% in the first quarter. Greenleaf Trust now owns 25,119 shares of the gold and copper producer’s stock valued at $418,000 after purchasing an additional 838 shares during the period. DORCHESTER WEALTH MANAGEMENT Co lifted its stake in shares of Barrick Gold by 2.4% in the 1st quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 36,519 shares of the gold and copper producer’s stock valued at $608,000 after purchasing an additional 850 shares during the last quarter. Bangor Savings Bank grew its holdings in shares of Barrick Gold by 4.4% during the 2nd quarter. Bangor Savings Bank now owns 21,445 shares of the gold and copper producer’s stock worth $358,000 after purchasing an additional 904 shares during the period. Finally, S.A. Mason LLC grew its holdings in shares of Barrick Gold by 3.5% during the 1st quarter. S.A. Mason LLC now owns 28,543 shares of the gold and copper producer’s stock worth $475,000 after purchasing an additional 973 shares during the period. 62.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on GOLD. Royal Bank of Canada upped their target price 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. 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. 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 note on Friday, September 13th. CIBC lifted their price objective on Barrick Gold from $23.00 to $27.00 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. Finally, Scotiabank increased their target price on Barrick Gold from $23.00 to $25.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, Barrick Gold currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.30.

Barrick Gold Price Performance

Barrick Gold stock opened at $20.38 on Monday. The stock has a market cap of $35.72 billion, a P/E ratio of 24.85, a price-to-earnings-growth ratio of 0.49 and a beta of 0.55. The company has a fifty day simple moving average of $19.20 and a 200-day simple moving average of $17.65. The company has a current ratio of 3.01, a quick ratio of 2.49 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.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its quarterly earnings results on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share (EPS) for the quarter, topping 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 company had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same period in the previous year, the business earned $0.19 EPS. Barrick Gold’s revenue for the quarter was up 11.6% on a year-over-year basis. Equities analysts expect that Barrick Gold Corp will post 1.22 EPS for the current fiscal year.

Barrick Gold Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were paid a $0.10 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.40 annualized dividend and a yield of 1.96%. Barrick Gold’s dividend payout ratio is currently 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.