1832 Asset Management L.P. Buys 386,849 Shares of Barrick Gold Corp (NYSE:GOLD)

1832 Asset Management L.P. increased its position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 35.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,476,704 shares of the gold and copper producer’s stock after purchasing an additional 386,849 shares during the quarter. 1832 Asset Management L.P. owned 0.08% of Barrick Gold worth $24,631,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. DCF Advisers LLC lifted its holdings in shares of Barrick Gold by 48.3% during the 2nd quarter. DCF Advisers LLC now owns 107,500 shares of the gold and copper producer’s stock worth $1,793,000 after acquiring an additional 35,000 shares during the period. Corient Private Wealth LLC lifted its stake in Barrick Gold by 0.9% during 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 purchasing an additional 1,066 shares during the last quarter. First Hawaiian Bank acquired a new stake in shares of Barrick Gold in the 1st quarter valued at $235,000. RFG Advisory LLC increased its stake in shares of Barrick Gold by 87.0% in the 1st quarter. RFG Advisory LLC now owns 41,002 shares of the gold and copper producer’s stock valued at $682,000 after purchasing an additional 19,077 shares during the last quarter. Finally, Financial Sense Advisors Inc. raised its holdings in shares of Barrick Gold by 142.1% during the 1st quarter. Financial Sense Advisors Inc. now owns 826,507 shares of the gold and copper producer’s stock worth $13,753,000 after buying an additional 485,077 shares in the last quarter. 62.85% of the stock is currently owned by institutional investors and hedge funds.

Barrick Gold Stock Performance

NYSE GOLD opened at $20.21 on Tuesday. The company has a market capitalization of $35.42 billion, a price-to-earnings ratio of 24.65, a PEG ratio of 0.49 and a beta of 0.55. The company has a quick ratio of 2.49, a current ratio of 3.01 and a debt-to-equity ratio of 0.15. Barrick Gold Corp has a twelve month low of $13.76 and a twelve month high of $21.13. The stock has a fifty day simple moving average of $19.24 and a 200 day simple moving average of $17.68.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its quarterly earnings results on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.05. The company 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 business’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.19 earnings per share. Sell-side analysts expect that Barrick Gold Corp will post 1.22 EPS for the current year.

Barrick Gold Dividend Announcement

The company also recently declared 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 was Friday, August 30th. This represents a $0.40 annualized dividend and a yield of 1.98%. Barrick Gold’s payout ratio is 48.78%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on GOLD shares. CIBC raised 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. Argus upgraded shares of 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. Jefferies Financial Group upped their price objective 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. Royal Bank of Canada raised 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. Finally, Scotiabank upped their price target on shares of Barrick Gold from $23.00 to $25.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. One 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. According to data from MarketBeat.com, Barrick Gold presently has an average rating of “Moderate Buy” and an average target price of $23.30.

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.