Barrick Gold Corp (NYSE:GOLD) Shares Acquired by Whitener Capital Management Inc.

Whitener Capital Management Inc. increased its holdings in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 0.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 73,185 shares of the gold and copper producer’s stock after buying an additional 675 shares during the period. Whitener Capital Management Inc.’s holdings in Barrick Gold were worth $1,456,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Clean Yield Group purchased a new stake in shares of Barrick Gold during the first quarter worth approximately $25,000. Exchange Traded Concepts LLC raised its holdings in shares of Barrick Gold by 198.1% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,407 shares of the gold and copper producer’s stock valued at $28,000 after purchasing an additional 935 shares in the last quarter. Crewe Advisors LLC lifted 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 worth $30,000 after purchasing an additional 1,572 shares during the last quarter. Jackson Grant Investment Advisers Inc. purchased a new position in Barrick Gold in the second quarter valued at $32,000. Finally, Eastern Bank acquired a new stake in Barrick Gold in the third quarter valued at $32,000. Hedge funds and other institutional investors own 62.85% of the company’s stock.

Barrick Gold Price Performance

Shares of GOLD opened at $19.05 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.31 and a current ratio of 3.01. Barrick Gold Corp has a fifty-two week low of $13.76 and a fifty-two week high of $21.35. The firm has a 50-day simple moving average of $20.11 and a 200-day simple moving average of $18.41. The company has a market capitalization of $33.30 billion, a price-to-earnings ratio of 22.15, a price-to-earnings-growth ratio of 0.47 and a beta of 0.55.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its earnings results on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.05. Barrick Gold had a return on equity of 5.53% and a net margin of 12.78%. The company had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same period last year, the business posted $0.19 EPS. The company’s revenue was up 11.6% on a year-over-year basis. On average, equities research analysts anticipate that Barrick Gold Corp will post 1.29 earnings per share for the current year.

Barrick Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were given a dividend of $0.10 per share. The ex-dividend date was Friday, August 30th. This represents a $0.40 dividend on an annualized basis and a yield of 2.10%. Barrick Gold’s payout ratio is currently 46.51%.

Analyst Ratings Changes

GOLD has been the topic of a number of recent analyst reports. UBS Group downgraded Barrick Gold from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $23.00 to $22.00 in a report on Wednesday. Argus raised 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. Royal Bank of Canada boosted their price objective 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. Jefferies Financial Group increased their target price on shares of Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Finally, 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. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $23.50.

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.