GSA Capital Partners LLP Raises Holdings in Barrick Gold Corp (NYSE:GOLD)

GSA Capital Partners LLP boosted its stake in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 744.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 103,222 shares of the gold and copper producer’s stock after purchasing an additional 90,998 shares during the quarter. GSA Capital Partners LLP’s holdings in Barrick Gold were worth $1,718,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in GOLD. Addenda Capital Inc. boosted its position in shares of Barrick Gold by 88.1% in the 4th quarter. Addenda Capital Inc. now owns 3,105,335 shares of the gold and copper producer’s stock valued at $56,176,000 after purchasing an additional 1,454,220 shares during the period. 1832 Asset Management L.P. grew its stake in shares of Barrick Gold by 19.2% in the 4th quarter. 1832 Asset Management L.P. now owns 1,051,755 shares of the gold and copper producer’s stock valued at $19,026,000 after purchasing an additional 169,350 shares during the last quarter. Klein Pavlis & Peasley Financial Inc. purchased a new stake in shares of Barrick Gold in the fourth quarter valued at approximately $1,331,000. Corient Private Wealth LLC boosted its stake in shares of Barrick Gold by 0.9% in the fourth quarter. Corient Private Wealth LLC now owns 123,651 shares of the gold and copper producer’s stock valued at $2,237,000 after buying an additional 1,066 shares in the last quarter. Finally, DAVENPORT & Co LLC boosted its stake in shares of Barrick Gold by 17.9% in the fourth quarter. DAVENPORT & Co LLC now owns 73,627 shares of the gold and copper producer’s stock valued at $1,332,000 after buying an additional 11,166 shares in the last quarter. Hedge funds and other institutional investors own 62.85% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on GOLD. BMO Capital Markets decreased their price target on Barrick Gold from $27.00 to $26.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 17th. National Bank Financial restated a “sector perform overweight” rating on shares of Barrick Gold in a research note on Monday, April 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Barrick Gold currently has an average rating of “Moderate Buy” and a consensus price target of $21.60.

Barrick Gold Price Performance

GOLD stock traded up $0.38 during midday trading on Wednesday, hitting $17.82. 9,160,545 shares of the stock were exchanged, compared to its average volume of 21,564,857. Barrick Gold Corp has a fifty-two week low of $13.76 and a fifty-two week high of $18.95. The stock has a market cap of $31.29 billion, a price-to-earnings ratio of 21.78, a PEG ratio of 0.49 and a beta of 0.51. The stock’s 50-day moving average price is $16.89 and its 200-day moving average price is $16.45. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.49 and a current ratio of 3.32.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its quarterly earnings results on Wednesday, May 1st. The gold and copper producer reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.04. Barrick Gold had a return on equity of 4.88% and a net margin of 12.58%. The company had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.74 billion. During the same period in the previous year, the firm posted $0.14 earnings per share. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. Research analysts predict that Barrick Gold Corp will post 1.07 earnings per share for the current year.

Barrick Gold Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Friday, May 31st were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.24%. This is a boost from Barrick Gold’s previous quarterly dividend of $0.07. The ex-dividend date was Friday, May 31st. Barrick Gold’s payout ratio is 48.78%.

Barrick Gold 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.