Moors & Cabot Inc. Grows Position in Barrick Gold Corp (NYSE:GOLD)

Moors & Cabot Inc. raised its position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 11.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,506 shares of the gold and copper producer’s stock after buying an additional 6,605 shares during the quarter. Moors & Cabot Inc.’s holdings in Barrick Gold were worth $1,059,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in GOLD. Principal Securities Inc. purchased a new position in Barrick Gold during the 4th quarter valued at approximately $26,000. Vanguard Personalized Indexing Management LLC grew its holdings in Barrick Gold by 31.4% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 34,633 shares of the gold and copper producer’s stock valued at $627,000 after buying an additional 8,276 shares in the last quarter. Beacon Pointe Advisors LLC grew its holdings in Barrick Gold by 10.8% during the 4th quarter. Beacon Pointe Advisors LLC now owns 36,505 shares of the gold and copper producer’s stock valued at $660,000 after buying an additional 3,570 shares in the last quarter. D.A. Davidson & CO. boosted its holdings in shares of Barrick Gold by 7.7% in the 4th quarter. D.A. Davidson & CO. now owns 61,777 shares of the gold and copper producer’s stock worth $1,118,000 after purchasing an additional 4,427 shares during the period. Finally, Corient Private Wealth LLC increased its position in shares of Barrick Gold by 0.9% during the 4th quarter. Corient Private Wealth LLC now owns 123,651 shares of the gold and copper producer’s stock valued at $2,237,000 after purchasing an additional 1,066 shares during the last quarter. Hedge funds and other institutional investors own 62.85% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on GOLD. Argus raised Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research report on Thursday, August 29th. Scotiabank boosted their target price on Barrick Gold from $23.00 to $25.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. Jefferies Financial Group boosted their target price on Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, September 13th. CIBC boosted their target price on Barrick Gold from $23.00 to $27.00 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. Finally, Royal Bank of Canada boosted their target price on Barrick Gold from $21.00 to $22.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Barrick Gold has an average rating of “Moderate Buy” and a consensus target price of $23.30.

Barrick Gold Price Performance

GOLD opened at $20.06 on Thursday. The business has a fifty day moving average of $19.12 and a 200 day moving average of $17.57. Barrick Gold Corp has a 52-week low of $13.76 and a 52-week high of $21.13. The company has a quick ratio of 2.49, a current ratio of 3.01 and a debt-to-equity ratio of 0.15. The stock has a market cap of $35.16 billion, a P/E ratio of 24.46, a PEG ratio of 0.49 and a beta of 0.55.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its earnings results on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.05. Barrick Gold had a return on equity of 5.53% and a net margin of 12.78%. The business had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same period in the prior year, the business earned $0.19 EPS. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Barrick Gold Corp will post 1.22 EPS for the current year.

Barrick Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend was Friday, August 30th. Barrick Gold’s dividend payout ratio is 48.78%.

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.