Leuthold Group LLC Invests $3.44 Million in Barrick Gold Corp (NYSE:GOLD)

Leuthold Group LLC purchased a new position in shares of Barrick Gold Corp (NYSE:GOLD - Free Report) TSE: ABX during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 172,921 shares of the gold and copper producer's stock, valued at approximately $3,439,000.

Other large investors have also made changes to their positions in the company. DCF Advisers LLC boosted its position in shares of Barrick Gold by 48.3% during the 2nd quarter. DCF Advisers LLC now owns 107,500 shares of the gold and copper producer's stock worth $1,793,000 after acquiring an additional 35,000 shares in the last quarter. Evexia Wealth LLC acquired a new stake in Barrick Gold in the third quarter valued at approximately $2,382,000. 1832 Asset Management L.P. boosted its position in Barrick Gold by 3.6% in the first quarter. 1832 Asset Management L.P. now owns 1,089,855 shares of the gold and copper producer's stock valued at $18,135,000 after buying an additional 38,100 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in Barrick Gold in the second quarter valued at approximately $934,000. Finally, Diversify Advisory Services LLC acquired a new stake in Barrick Gold in the first quarter valued at approximately $740,000. Institutional investors and hedge funds own 62.85% of the company's stock.

Barrick Gold Stock Performance

GOLD traded up $0.38 during midday trading on Monday, reaching $19.99. The company had a trading volume of 17,386,242 shares, compared to its average volume of 21,127,980. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.31 and a current ratio of 3.01. The stock has a market cap of $35.04 billion, a PE ratio of 24.37, a P/E/G ratio of 0.47 and a beta of 0.55. Barrick Gold Corp has a 12-month low of $13.76 and a 12-month high of $21.35. The business has a 50-day moving average price of $20.18 and a two-hundred day moving average price of $18.33.

Barrick Gold (NYSE:GOLD - Get Free Report) TSE: ABX last posted its quarterly earnings results on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.05. Barrick Gold had a net margin of 12.78% and a return on equity of 5.53%. The company had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same quarter in the previous year, the firm posted $0.19 earnings per share. The company's quarterly revenue was up 11.6% compared to the same quarter last year. On average, sell-side analysts expect that Barrick Gold Corp will post 1.27 earnings per share for the current fiscal year.

Barrick Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend was Friday, August 30th. Barrick Gold's dividend payout ratio (DPR) is presently 48.78%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. 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. Jefferies Financial Group lifted their price target on shares of Barrick Gold from $23.00 to $24.00 and gave the company a "buy" rating in a research note on Friday, September 13th. UBS 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 Tuesday, October 15th. 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 report on Wednesday, July 10th. Finally, Argus raised shares of Barrick Gold from a "hold" rating to a "buy" rating and set a $24.00 target price for the company in a research report on Thursday, August 29th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $23.60.

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.