AQR Capital Management LLC Buys 8,712 Shares of Barrick Gold Corp (NYSE:GOLD)

AQR Capital Management LLC lifted its holdings in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 24.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,901 shares of the gold and copper producer’s stock after purchasing an additional 8,712 shares during the period. AQR Capital Management LLC’s holdings in Barrick Gold were worth $732,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Clean Yield Group bought a new position in shares of Barrick Gold in the first quarter valued at approximately $25,000. Crewe Advisors LLC lifted its stake 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. Jackson Grant Investment Advisers Inc. purchased a new position in Barrick Gold during the 2nd quarter valued at about $32,000. LRI Investments LLC purchased a new position in Barrick Gold during the 1st quarter valued at about $37,000. Finally, City State Bank grew its holdings in shares of Barrick Gold by 338.6% during the 2nd quarter. City State Bank now owns 2,500 shares of the gold and copper producer’s stock worth $42,000 after acquiring an additional 1,930 shares during the period. Institutional investors own 62.85% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. CIBC upped their price target on Barrick Gold from $23.00 to $27.00 and gave the stock an “outperformer” rating in a research note on Wednesday, July 10th. Argus raised Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a report on Thursday, August 29th. Scotiabank increased their price target on Barrick Gold from $23.00 to $25.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. Raymond James cut 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, Jefferies Financial Group raised their price objective on Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $23.67.

Barrick Gold Stock Down 0.4 %

Shares of NYSE GOLD opened at $19.99 on Monday. The firm has a 50-day simple moving average of $19.74 and a two-hundred day simple moving average of $18.12. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.01 and a quick ratio of 2.31. Barrick Gold Corp has a 1 year low of $13.76 and a 1 year high of $21.21. The company has a market cap of $35.04 billion, a P/E ratio of 24.38, a PEG ratio of 0.47 and a beta of 0.55.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its quarterly earnings data on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.05. The company had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.13 billion. Barrick Gold had a net margin of 12.78% and a return on equity of 5.53%. Barrick Gold’s revenue was up 11.6% compared to the same quarter last year. During the same period last year, the company posted $0.19 earnings per share. Research analysts anticipate that Barrick Gold Corp will post 1.27 earnings per share for the current year.

Barrick Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.00%. The ex-dividend date was Friday, August 30th. Barrick Gold’s payout ratio is 48.78%.

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.