Barrick Gold Corp (NYSE:GOLD) Shares Purchased by Sound Shore Management Inc. CT

Sound Shore Management Inc. CT raised its stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 48.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,455,551 shares of the gold and copper producer’s stock after acquiring an additional 1,449,862 shares during the quarter. Barrick Gold makes up 2.5% of Sound Shore Management Inc. CT’s portfolio, making the stock its 25th biggest holding. Sound Shore Management Inc. CT owned approximately 0.25% of Barrick Gold worth $74,319,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in GOLD. Sei Investments Co. raised its stake in Barrick Gold by 23.4% in the 2nd quarter. Sei Investments Co. now owns 846,374 shares of the gold and copper producer’s stock valued at $14,117,000 after purchasing an additional 160,498 shares during the last quarter. Skandinaviska Enskilda Banken AB publ grew its holdings in shares of Barrick Gold by 8.4% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 236,619 shares of the gold and copper producer’s stock worth $3,947,000 after buying an additional 18,400 shares in the last quarter. DCF Advisers LLC grew its holdings in shares of Barrick Gold by 48.3% during the second quarter. DCF Advisers LLC now owns 107,500 shares of the gold and copper producer’s stock worth $1,793,000 after buying an additional 35,000 shares in the last quarter. Cedar Wealth Management LLC raised its position in shares of Barrick Gold by 88.5% in the second quarter. Cedar Wealth Management LLC now owns 71,640 shares of the gold and copper producer’s stock valued at $1,195,000 after buying an additional 33,637 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in Barrick Gold during the second quarter worth approximately $383,000. 62.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on GOLD shares. Scotiabank lifted 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. CIBC upped their target price on Barrick Gold from $23.00 to $27.00 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. Jefferies Financial Group raised their price target on Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. 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 report on Tuesday, September 10th. Finally, Argus upgraded shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Barrick Gold has an average rating of “Moderate Buy” and an average target price of $23.30.

Barrick Gold Trading Up 0.8 %

NYSE GOLD opened at $20.39 on Friday. The firm has a market capitalization of $35.74 billion, a price-to-earnings ratio of 24.87, 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 one year low of $13.76 and a one year high of $21.13. The company’s 50 day moving average price is $19.20 and its 200 day moving average price is $17.62.

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. Barrick Gold had a net margin of 12.78% and a return on equity of 5.53%. The business had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter last year, the firm posted $0.19 EPS. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. On average, sell-side analysts predict that Barrick Gold Corp will post 1.22 EPS for the current year.

Barrick Gold Announces Dividend

The business also recently announced 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 annualized dividend and a dividend yield of 1.96%. The ex-dividend date was Friday, August 30th. Barrick Gold’s payout ratio is 48.78%.

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.