Barrick Gold Corp (NYSE:GOLD) Shares Sold by Profund Advisors LLC

Profund Advisors LLC trimmed its holdings in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 12.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 132,698 shares of the gold and copper producer’s stock after selling 19,448 shares during the quarter. Profund Advisors LLC’s holdings in Barrick Gold were worth $2,213,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Ensign Peak Advisors Inc boosted its holdings in Barrick Gold by 3.1% in the second quarter. Ensign Peak Advisors Inc now owns 130,120 shares of the gold and copper producer’s stock valued at $2,250,000 after purchasing an additional 3,900 shares in the last quarter. Sound Shore Management Inc. CT boosted its holdings in shares of Barrick Gold by 48.2% in the second quarter. Sound Shore Management Inc. CT now owns 4,455,551 shares of the gold and copper producer’s stock valued at $74,319,000 after acquiring an additional 1,449,862 shares during the period. Sei Investments Co. boosted its holdings in shares of Barrick Gold by 23.4% in the second quarter. Sei Investments Co. now owns 846,374 shares of the gold and copper producer’s stock valued at $14,117,000 after acquiring an additional 160,498 shares during the period. Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of Barrick Gold by 8.4% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 236,619 shares of the gold and copper producer’s stock valued at $3,947,000 after acquiring an additional 18,400 shares during the period. Finally, DCF Advisers LLC boosted its holdings in shares of Barrick Gold by 48.3% in the second quarter. DCF Advisers LLC now owns 107,500 shares of the gold and copper producer’s stock valued at $1,793,000 after acquiring an additional 35,000 shares during the period. 62.85% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Barrick Gold Trading Up 0.7 %

NYSE:GOLD opened at $20.38 on Monday. The stock has a fifty day moving average price of $19.20 and a two-hundred day moving average price of $17.65. The stock has a market capitalization of $35.72 billion, a price-to-earnings ratio of 24.85, a PEG ratio of 0.49 and a beta of 0.55. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.49 and a current ratio of 3.01. Barrick Gold Corp has a 1 year low of $13.76 and a 1 year high of $21.13.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its quarterly earnings data on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.05. The firm 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%. Barrick Gold’s revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.19 earnings per share. As a group, sell-side analysts anticipate that Barrick Gold Corp will post 1.22 earnings per share for the current fiscal year.

Barrick Gold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend was Friday, August 30th. Barrick Gold’s dividend payout ratio is currently 48.78%.

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.