Barrick Gold Corp (NYSE:GOLD) Shares Acquired by Blue Trust Inc.

Blue Trust Inc. lifted its stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 19.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,305 shares of the gold and copper producer’s stock after buying an additional 4,999 shares during the quarter. Blue Trust Inc.’s holdings in Barrick Gold were worth $521,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP raised its position in shares of Barrick Gold by 58.4% in the fourth quarter. Wellington Management Group LLP now owns 100,680,644 shares of the gold and copper producer’s stock worth $1,821,963,000 after acquiring an additional 37,128,653 shares during the period. Van ECK Associates Corp raised its holdings in Barrick Gold by 9.7% in the 4th quarter. Van ECK Associates Corp now owns 80,933,517 shares of the gold and copper producer’s stock worth $1,464,070,000 after purchasing an additional 7,150,142 shares during the period. Vanguard Group Inc. boosted its position in Barrick Gold by 1.7% during the first quarter. Vanguard Group Inc. now owns 64,761,067 shares of the gold and copper producer’s stock worth $1,077,624,000 after purchasing an additional 1,089,572 shares in the last quarter. First Eagle Investment Management LLC grew its holdings 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 period. Finally, Capital World Investors increased its position in shares of Barrick Gold by 16.4% in the fourth quarter. Capital World Investors now owns 45,479,229 shares of the gold and copper producer’s stock valued at $821,790,000 after buying an additional 6,417,244 shares in the last quarter. 62.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on GOLD shares. Jefferies Financial Group lifted their price target on shares of Barrick Gold from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, July 12th. CIBC boosted their target price on shares of Barrick Gold from $23.00 to $27.00 and gave the stock an “outperformer” rating in a research note on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Barrick Gold has a consensus rating of “Moderate Buy” and a consensus price target of $22.20.

Barrick Gold Trading Up 3.5 %

Barrick Gold stock traded up $0.66 during midday trading on Friday, hitting $19.71. 26,384,292 shares of the stock were exchanged, compared to its average volume of 21,862,564. The company has a current ratio of 3.32, a quick ratio of 2.49 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $34.55 billion, a price-to-earnings ratio of 24.04, a PEG ratio of 0.48 and a beta of 0.51. The stock’s 50-day simple moving average is $17.58 and its 200 day simple moving average is $16.71. Barrick Gold Corp has a fifty-two week low of $13.76 and a fifty-two week high of $19.77.

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, topping analysts’ consensus estimates of $0.27 by $0.05. The firm had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.13 billion. Barrick Gold had a return on equity of 4.88% and a net margin of 12.58%. The company’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period last year, the company earned $0.19 EPS. On average, equities analysts anticipate that Barrick Gold Corp will post 1.16 EPS for the current year.

Barrick Gold Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be given a $0.10 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.40 annualized dividend and a yield of 2.03%. Barrick Gold’s dividend payout ratio is presently 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.