Raymond James & Associates Sells 49,736 Shares of Barrick Gold Corp (NYSE:GOLD)

Raymond James & Associates reduced its holdings in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 2.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,787,491 shares of the gold and copper producer’s stock after selling 49,736 shares during the quarter. Raymond James & Associates owned 0.10% of Barrick Gold worth $35,553,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Barrick Gold by 1.7% in the first quarter. Vanguard Group Inc. now owns 64,761,067 shares of the gold and copper producer’s stock valued at $1,077,624,000 after purchasing an additional 1,089,572 shares during the last quarter. First Eagle Investment Management LLC raised its position in Barrick Gold by 31.6% in the first quarter. First Eagle Investment Management LLC now owns 58,820,050 shares of the gold and copper producer’s stock valued at $978,766,000 after purchasing an additional 14,138,639 shares during the last quarter. EdgePoint Investment Group Inc. raised its position in Barrick Gold by 3.7% in the second quarter. EdgePoint Investment Group Inc. now owns 18,837,028 shares of the gold and copper producer’s stock valued at $314,254,000 after purchasing an additional 666,214 shares during the last quarter. National Bank of Canada FI raised its position in Barrick Gold by 9.0% in the first quarter. National Bank of Canada FI now owns 14,887,656 shares of the gold and copper producer’s stock valued at $251,929,000 after purchasing an additional 1,231,184 shares during the last quarter. Finally, CIBC Asset Management Inc raised its position in shares of Barrick Gold by 3.3% during the second quarter. CIBC Asset Management Inc now owns 14,546,530 shares of the gold and copper producer’s stock worth $242,491,000 after acquiring an additional 461,406 shares during the last quarter. 62.85% of the stock is currently owned by institutional investors.

Barrick Gold Trading Down 1.9 %

Shares of Barrick Gold stock opened at $20.80 on Thursday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.31 and a current ratio of 3.01. Barrick Gold Corp has a 52 week low of $13.76 and a 52 week high of $21.35. The stock has a 50 day moving average price of $20.16 and a two-hundred day moving average price of $18.30. The stock has a market capitalization of $36.45 billion, a PE ratio of 25.36, a price-to-earnings-growth ratio of 0.47 and a beta of 0.55.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its quarterly earnings data 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. Barrick Gold had a return on equity of 5.53% and a net margin of 12.78%. The firm had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same quarter last year, the firm posted $0.19 earnings per share. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, equities analysts anticipate that Barrick Gold Corp will post 1.27 earnings per share for the current fiscal year.

Barrick Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were paid a $0.10 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.40 dividend on an annualized basis and a yield of 1.92%. Barrick Gold’s dividend payout ratio (DPR) is presently 48.78%.

Analyst Upgrades and Downgrades

GOLD has been the subject of a number of analyst reports. UBS Group raised their price objective on Barrick Gold from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Royal Bank of Canada raised their price objective on Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Jefferies Financial Group raised their price objective on Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Raymond James lowered their price objective on Barrick Gold from $26.50 to $26.00 and set an “outperform” rating for the company in a research report on Thursday, September 26th. Finally, Scotiabank raised 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. Two research analysts have rated the stock with a hold rating and nine 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 target price of $23.60.

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.