Profund Advisors LLC Reduces Stock Holdings in Barrick Gold Corp (NYSE:GOLD)

Profund Advisors LLC lowered its position in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 12.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 132,698 shares of the gold and copper producer’s stock after selling 19,448 shares during the quarter. Profund Advisors LLC’s holdings in Barrick Gold were worth $2,213,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in GOLD. Clean Yield Group acquired a new stake in shares of Barrick Gold during the first quarter valued at $25,000. Principal Securities Inc. acquired a new stake in shares of Barrick Gold during the fourth quarter valued at $26,000. Crewe Advisors LLC boosted its stake in shares of Barrick Gold by 628.8% during the second quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer’s stock valued at $30,000 after acquiring an additional 1,572 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Barrick Gold by 175.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,794 shares of the gold and copper producer’s stock valued at $32,000 after acquiring an additional 1,143 shares during the last quarter. Finally, Jackson Grant Investment Advisers Inc. acquired a new stake in Barrick Gold in the 2nd quarter worth about $32,000. Hedge funds and other institutional investors own 62.85% of the company’s stock.

Barrick Gold Stock Performance

Shares of NYSE:GOLD opened at $20.38 on Monday. The company has a market cap of $35.72 billion, a P/E ratio of 24.85, a PEG ratio of 0.49 and a beta of 0.55. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.49 and a current ratio of 3.01. Barrick Gold Corp has a one year low of $13.76 and a one year high of $21.13. The business’s 50-day simple moving average is $19.20 and its 200 day simple moving average is $17.65.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its earnings results 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. The business had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.13 billion. Barrick Gold had a return on equity of 5.53% and a net margin of 12.78%. The company’s revenue was up 11.6% on a year-over-year basis. During the same period last year, the business posted $0.19 EPS. On average, sell-side analysts forecast that Barrick Gold Corp will post 1.22 earnings per share for the current fiscal year.

Barrick Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders 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 annualized dividend and a yield of 1.96%. Barrick Gold’s dividend payout ratio is presently 48.78%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on GOLD shares. Argus raised Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research note on Thursday, August 29th. CIBC raised their price target on Barrick Gold from $23.00 to $27.00 and gave the stock an “outperformer” rating in a research note on Wednesday, July 10th. Royal Bank of Canada raised their price objective on 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 raised their price objective on Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Friday, September 13th. Finally, Scotiabank raised their price objective on Barrick Gold from $23.00 to $25.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $23.30.

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.