Oak Asset Management LLC Grows Stake in Barrick Gold Corp (NYSE:GOLD)

Oak Asset Management LLC grew its position in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 23.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 39,400 shares of the gold and copper producer’s stock after purchasing an additional 7,550 shares during the quarter. Oak Asset Management LLC’s holdings in Barrick Gold were worth $656,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. SteelPeak Wealth LLC acquired a new stake in shares of Barrick Gold during the first quarter worth $169,000. Edge Wealth Management LLC lifted its stake in shares of 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 buying an additional 725 shares during the period. S.A. Mason LLC lifted its stake in shares of 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 buying an additional 973 shares during the period. Sunbelt Securities Inc. lifted its stake in shares of Barrick Gold by 46.8% during the first quarter. Sunbelt Securities Inc. now owns 10,040 shares of the gold and copper producer’s stock worth $167,000 after buying an additional 3,200 shares during the period. Finally, Gateway Investment Advisers LLC lifted its stake in shares of Barrick Gold by 1.5% during the first quarter. Gateway Investment Advisers LLC now owns 252,672 shares of the gold and copper producer’s stock worth $4,204,000 after buying an additional 3,655 shares during the period. 62.85% of the stock is currently owned by institutional investors and hedge funds.

Barrick Gold Stock Down 1.0 %

Shares of NYSE GOLD opened at $16.68 on Monday. Barrick Gold Corp has a 12-month low of $13.76 and a 12-month high of $18.95. The stock has a market cap of $29.28 billion, a PE ratio of 20.34, a P/E/G ratio of 0.47 and a beta of 0.51. The company has a current ratio of 3.32, a quick ratio of 2.49 and a debt-to-equity ratio of 0.15. The company has a 50-day moving average of $16.84 and a 200 day moving average of $16.48.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its quarterly earnings data on Wednesday, May 1st. The gold and copper producer reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.04. Barrick Gold had a net margin of 12.58% and a return on equity of 4.88%. The company had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.74 billion. During the same quarter in the prior year, the company earned $0.14 EPS. Barrick Gold’s revenue was up 3.9% compared to the same quarter last year. As a group, sell-side analysts predict that Barrick Gold Corp will post 1.08 EPS for the current fiscal year.

Barrick Gold Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Friday, May 31st were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.40%. This is a positive change from Barrick Gold’s previous quarterly dividend of $0.07. The ex-dividend date was Friday, May 31st. Barrick Gold’s payout ratio is presently 48.78%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. National Bank Financial restated a “sector perform overweight” rating on shares of Barrick Gold in a research report on Monday, April 8th. BMO Capital Markets decreased their target price on shares of Barrick Gold from $27.00 to $26.00 and set an “outperform” rating for the company in a research report on Wednesday, April 17th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $18.00 target price on shares of Barrick Gold in a research report on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target 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.