Barrick Gold Corp (NYSE:GOLD) Shares Acquired by Bangor Savings Bank

Bangor Savings Bank lifted its stake in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 12.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,541 shares of the gold and copper producer’s stock after acquiring an additional 2,267 shares during the quarter. Bangor Savings Bank’s holdings in Barrick Gold were worth $342,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in GOLD. Pathstone Family Office LLC acquired a new position in Barrick Gold in the third quarter worth approximately $229,000. DekaBank Deutsche Girozentrale grew its position in Barrick Gold by 1.3% in the third quarter. DekaBank Deutsche Girozentrale now owns 136,837 shares of the gold and copper producer’s stock worth $2,007,000 after buying an additional 1,821 shares during the last quarter. Kestra Advisory Services LLC grew its position in Barrick Gold by 20.9% in the third quarter. Kestra Advisory Services LLC now owns 88,920 shares of the gold and copper producer’s stock worth $1,294,000 after buying an additional 15,351 shares during the last quarter. Pearl River Capital LLC acquired a new position in Barrick Gold in the third quarter worth approximately $248,000. Finally, Mariner LLC grew its position in Barrick Gold by 3.0% in the third quarter. Mariner LLC now owns 135,955 shares of the gold and copper producer’s stock worth $1,978,000 after buying an additional 3,901 shares during the last quarter. Institutional investors and hedge funds own 62.85% of the company’s stock.

Barrick Gold Stock Down 2.4 %

GOLD stock opened at $16.56 on Monday. Barrick Gold Corp has a twelve month low of $13.76 and a twelve month high of $18.95. The company has a market cap of $29.07 billion, a PE ratio of 20.20, a price-to-earnings-growth ratio of 0.48 and a beta of 0.59. The business’s 50-day simple moving average is $16.86 and its 200 day simple moving average is $16.48. The company has a quick ratio of 2.49, a current ratio of 3.32 and a debt-to-equity ratio of 0.15.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its earnings results on Wednesday, May 1st. The gold and copper producer reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.04. The business had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.74 billion. Barrick Gold had a return on equity of 4.88% and a net margin of 12.58%. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period last year, the business earned $0.14 earnings per share. On average, research analysts anticipate that Barrick Gold Corp will post 1.06 earnings per share for the current year.

Barrick Gold Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Friday, May 31st were paid a $0.10 dividend. The ex-dividend date was Friday, May 31st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.42%. This is a boost from Barrick Gold’s previous quarterly dividend of $0.07. Barrick Gold’s payout ratio is 48.78%.

Wall Street Analyst Weigh In

GOLD has been the subject of a number of recent analyst reports. National Bank Financial reaffirmed a “sector perform overweight” rating on shares of Barrick Gold in a research note on Monday, April 8th. BMO Capital Markets decreased their price objective on shares of Barrick Gold from $27.00 to $26.00 and set an “outperform” rating for the company in a research note on Wednesday, April 17th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $18.00 price objective on shares of Barrick Gold in a research note on Monday, March 4th. Jefferies Financial Group initiated coverage on shares of Barrick Gold in a research note on Thursday, February 29th. They issued a “buy” rating and a $21.00 price objective for the company. Finally, Argus reissued a “hold” rating on shares of Barrick Gold in a research note on Monday, February 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $21.60.

About Barrick Gold

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.