Bradley Foster & Sargent Inc. CT Sells 8,667 Shares of Barrick Gold Corp (NYSE:GOLD)

Bradley Foster & Sargent Inc. CT decreased its holdings in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 17.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40,272 shares of the gold and copper producer’s stock after selling 8,667 shares during the period. Bradley Foster & Sargent Inc. CT’s holdings in Barrick Gold were worth $672,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of GOLD. Principal Securities Inc. purchased a new stake in Barrick Gold in the fourth quarter worth $26,000. Clean Yield Group purchased a new position in shares of Barrick Gold in the 1st quarter valued at approximately $25,000. EverSource Wealth Advisors LLC raised its stake in Barrick Gold by 175.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,794 shares of the gold and copper producer’s stock worth $32,000 after acquiring an additional 1,143 shares during the last quarter. Crewe Advisors LLC boosted its holdings in shares of Barrick Gold by 628.8% in the 2nd 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. Finally, Jackson Grant Investment Advisers Inc. acquired a new stake in Barrick Gold during the 2nd quarter worth about $32,000. Hedge funds and other institutional investors own 62.85% of the company’s stock.

Barrick Gold Stock Up 0.9 %

NYSE:GOLD opened at $20.24 on Friday. Barrick Gold Corp has a 52 week low of $13.76 and a 52 week high of $21.13. The stock’s fifty day moving average is $19.16 and its two-hundred day moving average is $17.59. The stock has a market capitalization of $35.48 billion, a price-to-earnings ratio of 24.68, a price-to-earnings-growth 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 (NYSE:GOLD) (TSE:ABX) last released its 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 the consensus estimate of $3.13 billion. Barrick Gold had a return on equity of 5.53% and a net margin of 12.78%. Barrick Gold’s revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.19 EPS. Research analysts anticipate that Barrick Gold Corp will post 1.22 EPS for the current year.

Barrick Gold Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a yield of 1.98%. Barrick Gold’s dividend payout ratio (DPR) is presently 48.78%.

Analysts Set New Price Targets

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

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.