Jaffetilchin Investment Partners LLC purchased a new position in Barrick Gold Corp (NYSE:GOLD - Free Report) TSE: ABX in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 41,196 shares of the gold and copper producer's stock, valued at approximately $819,000.
Several other large investors have also made changes to their positions in GOLD. First Eagle Investment Management LLC raised its position in Barrick Gold by 31.6% in the 1st quarter. First Eagle Investment Management LLC now owns 58,820,050 shares of the gold and copper producer's stock worth $978,766,000 after purchasing an additional 14,138,639 shares during the period. EdgePoint Investment Group Inc. raised its stake in shares of Barrick Gold by 38.8% in the first quarter. EdgePoint Investment Group Inc. now owns 18,170,814 shares of the gold and copper producer's stock worth $302,366,000 after purchasing an additional 5,080,510 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Barrick Gold by 4,713.3% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,144,456 shares of the gold and copper producer's stock valued at $69,141,000 after buying an additional 4,058,351 shares during the period. Letko Brosseau & Associates Inc. purchased a new position in Barrick Gold in the second quarter valued at $66,820,000. Finally, Mizuho Markets Americas LLC purchased a new position in shares of Barrick Gold during the 2nd quarter valued at approximately $31,768,000. 62.85% of the stock is currently owned by hedge funds and other institutional investors.
Barrick Gold Stock Performance
GOLD traded down $0.38 during trading hours on Tuesday, hitting $17.02. 35,716,551 shares of the stock were exchanged, compared to its average volume of 21,371,287. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.01 and a quick ratio of 2.31. The stock has a 50-day simple moving average of $19.89 and a 200-day simple moving average of $18.49. The stock has a market cap of $29.75 billion, a price-to-earnings ratio of 18.32, a price-to-earnings-growth ratio of 0.43 and a beta of 0.56. Barrick Gold Corp has a 12 month low of $13.76 and a 12 month high of $21.35.
Barrick Gold (NYSE:GOLD - Get Free Report) TSE: ABX last posted its quarterly earnings data 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. Barrick Gold had a net margin of 13.19% and a return on equity of 5.85%. The business had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the prior year, the company posted $0.19 earnings per share. The company's quarterly revenue was up 11.6% compared to the same quarter last year. Analysts anticipate that Barrick Gold Corp will post 1.29 earnings per share for the current year.
Barrick Gold Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a $0.10 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.40 annualized dividend and a yield of 2.35%. Barrick Gold's dividend payout ratio (DPR) is 43.01%.
Analysts Set New Price Targets
A number of research firms have weighed in on GOLD. Jefferies Financial Group boosted their price objective on Barrick Gold from $23.00 to $24.00 and gave the stock a "buy" rating in a research note on Friday, September 13th. TD Securities cut their target price on shares of Barrick Gold from $27.00 to $26.00 and set a "buy" rating on the stock in a report on Friday. Royal Bank of Canada increased their price objective on Barrick Gold from $21.00 to $22.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 10th. UBS Group downgraded Barrick Gold from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $23.00 to $22.00 in a research report on Wednesday, October 30th. Finally, Scotiabank dropped their price target on shares of Barrick Gold from $25.00 to $24.00 and set a "sector outperform" rating for the company in a research report on Friday. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $23.90.
Check Out Our Latest Analysis on Barrick Gold
Barrick Gold Company Profile
(
Free Report)
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.
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