Old West Investment Management LLC Sells 56,401 Shares of Barrick Gold Corp (NYSE:GOLD)

Old West Investment Management LLC reduced its stake in shares of Barrick Gold Corp (NYSE:GOLD - Free Report) TSE: ABX by 7.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 653,649 shares of the gold and copper producer's stock after selling 56,401 shares during the quarter. Barrick Gold accounts for approximately 4.7% of Old West Investment Management LLC's portfolio, making the stock its 5th largest holding. Old West Investment Management LLC's holdings in Barrick Gold were worth $13,001,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Fractal Investments LLC increased its position in shares of Barrick Gold by 32.3% in the third quarter. Fractal Investments LLC now owns 16,400 shares of the gold and copper producer's stock valued at $326,000 after buying an additional 4,000 shares in the last quarter. Crescent Grove Advisors LLC purchased a new position in Barrick Gold during the 3rd quarter valued at about $267,000. Whitener Capital Management Inc. lifted its holdings in shares of Barrick Gold by 0.9% in the third quarter. Whitener Capital Management Inc. now owns 73,185 shares of the gold and copper producer's stock valued at $1,456,000 after purchasing an additional 675 shares in the last quarter. Janney Montgomery Scott LLC grew its position in shares of Barrick Gold by 42.4% in the third quarter. Janney Montgomery Scott LLC now owns 184,897 shares of the gold and copper producer's stock valued at $3,678,000 after purchasing an additional 55,051 shares during the last quarter. Finally, Palliser Capital UK Ltd increased its stake in shares of Barrick Gold by 54.1% during the 3rd quarter. Palliser Capital UK Ltd now owns 346,363 shares of the gold and copper producer's stock worth $6,889,000 after purchasing an additional 121,663 shares in the last quarter. 62.85% of the stock is owned by hedge funds and other institutional investors.

Barrick Gold Trading Down 2.4 %

Shares of GOLD stock traded down $0.45 during mid-day trading on Wednesday, reaching $18.43. The company's stock had a trading volume of 27,104,809 shares, compared to its average volume of 21,151,428. The company's 50 day simple moving average is $20.05 and its 200-day simple moving average is $18.45. The company has a quick ratio of 2.31, a current ratio of 3.01 and a debt-to-equity ratio of 0.15. Barrick Gold Corp has a 12-month low of $13.76 and a 12-month high of $21.35. The firm has a market capitalization of $32.22 billion, a PE ratio of 21.31, a price-to-earnings-growth ratio of 0.45 and a beta of 0.56.

Barrick Gold (NYSE:GOLD - Get Free Report) TSE: ABX last issued its earnings results on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.05. The company 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 5.53% and a net margin of 12.78%. The company's revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.19 earnings per share. On average, research analysts predict that Barrick Gold Corp will post 1.29 EPS for the current fiscal year.

Barrick Gold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.17%. The ex-dividend date was Friday, August 30th. Barrick Gold's dividend payout ratio (DPR) is 46.51%.

Analysts Set New Price Targets

A number of equities research analysts have commented on GOLD shares. UBS Group cut Barrick Gold from a "buy" rating to a "neutral" rating and lowered their target price for the company from $23.00 to $22.00 in a report on Wednesday, October 30th. CIBC lifted their price objective on Barrick Gold from $23.00 to $27.00 and gave the stock an "outperformer" rating in a research report on Wednesday, July 10th. Raymond James reduced their target price on shares of Barrick Gold from $26.50 to $26.00 and set an "outperform" rating on the stock in a report on Thursday, September 26th. Royal Bank of Canada lifted their price target on shares of Barrick Gold from $21.00 to $22.00 and gave the stock an "outperform" rating in a report on Tuesday, September 10th. Finally, Argus upgraded Barrick Gold from a "hold" rating to a "buy" rating and set a $24.00 price target for the company in a report on Thursday, August 29th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Barrick Gold presently has an average rating of "Moderate Buy" and an average target price of $23.50.

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.