Barrick Gold Corp (NYSE:GOLD) Shares Bought by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC boosted its stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 198.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,407 shares of the gold and copper producer’s stock after buying an additional 935 shares during the period. Exchange Traded Concepts LLC’s holdings in Barrick Gold were worth $28,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Clean Yield Group acquired a new stake in shares of Barrick Gold in the first quarter valued at $25,000. Crewe Advisors LLC boosted its position in shares of Barrick Gold by 628.8% during the 2nd quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer’s stock valued at $30,000 after purchasing an additional 1,572 shares in the last quarter. Jackson Grant Investment Advisers Inc. acquired a new position in shares of Barrick Gold in the 2nd quarter worth approximately $32,000. LRI Investments LLC acquired a new position in shares of Barrick Gold in the 1st quarter worth approximately $37,000. Finally, City State Bank raised its holdings in shares of Barrick Gold by 338.6% in the 2nd quarter. City State Bank now owns 2,500 shares of the gold and copper producer’s stock worth $42,000 after purchasing an additional 1,930 shares in the last quarter. Institutional investors own 62.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Scotiabank upped their price target on Barrick Gold from $23.00 to $25.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. Argus raised Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a report on Thursday, August 29th. Jefferies Financial Group lifted 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. CIBC upped their price objective on shares of Barrick Gold from $23.00 to $27.00 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. Finally, Royal Bank of Canada lifted their target price on shares of Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $23.60.

Barrick Gold Stock Down 1.9 %

Barrick Gold stock opened at $20.80 on Thursday. Barrick Gold Corp has a twelve month low of $13.76 and a twelve month high of $21.35. The firm’s 50 day moving average price is $20.16 and its two-hundred day moving average price is $18.30. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.31 and a current ratio of 3.01. The firm has a market cap of $36.45 billion, a PE ratio of 25.36, a P/E/G ratio of 0.47 and a beta of 0.55.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its quarterly earnings results on Monday, August 12th. The gold and copper producer reported $0.32 EPS for the quarter, beating the consensus estimate 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 return on equity of 5.53% and a net margin of 12.78%. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.19 EPS. On average, research analysts predict that Barrick Gold Corp will post 1.27 EPS for the current fiscal year.

Barrick Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors 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 payout ratio is presently 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.