Seven Eight Capital LP Trims Holdings in Barrick Gold Corp (NYSE:GOLD)

Seven Eight Capital LP lowered its position in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 47.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,527 shares of the gold and copper producer’s stock after selling 18,634 shares during the period. Seven Eight Capital LP’s holdings in Barrick Gold were worth $342,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Edge Wealth Management LLC increased its stake in shares of Barrick Gold by 6.3% in the first quarter. Edge Wealth Management LLC now owns 12,255 shares of the gold and copper producer’s stock worth $204,000 after acquiring an additional 725 shares during the period. Greenleaf Trust raised its stake in shares of Barrick Gold by 3.5% during the 1st quarter. Greenleaf Trust now owns 25,119 shares of the gold and copper producer’s stock valued at $418,000 after buying an additional 838 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co lifted its holdings in shares of Barrick Gold by 2.4% in the 1st quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 36,519 shares of the gold and copper producer’s stock valued at $608,000 after buying an additional 850 shares during the period. Bangor Savings Bank boosted its stake in shares of Barrick Gold by 4.4% in the second quarter. Bangor Savings Bank now owns 21,445 shares of the gold and copper producer’s stock worth $358,000 after buying an additional 904 shares during the last quarter. Finally, S.A. Mason LLC grew its holdings in 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 acquiring an additional 973 shares during the period. Institutional investors and hedge funds own 62.85% of the company’s stock.

Barrick Gold Stock Up 0.7 %

Shares of GOLD opened at $20.38 on Monday. The stock has a 50 day moving average price of $19.20 and a 200 day moving average price of $17.65. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.49 and a current ratio of 3.01. 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. Barrick Gold Corp has a one year low of $13.76 and a one year high of $21.13.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its earnings results on Monday, August 12th. The gold and copper producer reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. The business had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Barrick Gold had a net margin of 12.78% and a return on equity of 5.53%. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.19 earnings per share. Equities research analysts forecast that Barrick Gold Corp will post 1.22 earnings per share for the current fiscal 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 paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date was Friday, August 30th. Barrick Gold’s dividend payout ratio (DPR) is 48.78%.

Analysts Set New Price Targets

Several research firms have commented on GOLD. Scotiabank upped their price objective on Barrick Gold from $23.00 to $25.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. Argus raised shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a report on Thursday, August 29th. CIBC lifted their price objective on shares of Barrick Gold from $23.00 to $27.00 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. Jefferies Financial Group increased their target price on shares of Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Finally, Royal Bank of Canada lifted their price target on Barrick Gold from $21.00 to $22.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Barrick Gold presently has an average rating of “Moderate Buy” and an average price target of $23.30.

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.