RWC Asset Management LLP reduced its position in Barrick Gold Corp (NYSE:GOLD – Free Report) TSE: ABX by 2.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,335,694 shares of the gold and copper producer’s stock after selling 99,291 shares during the quarter. Barrick Gold accounts for approximately 4.1% of RWC Asset Management LLP’s holdings, making the stock its 4th biggest holding. RWC Asset Management LLP owned approximately 0.25% of Barrick Gold worth $63,084,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brookstone Capital Management increased its position in shares of Barrick Gold by 6.8% during the second quarter. Brookstone Capital Management now owns 16,508 shares of the gold and copper producer’s stock worth $270,000 after acquiring an additional 1,044 shares during the period. Stratos Wealth Partners LTD. increased its position in shares of Barrick Gold by 8.0% during the second quarter. Stratos Wealth Partners LTD. now owns 13,025 shares of the gold and copper producer’s stock worth $221,000 after acquiring an additional 964 shares during the period. Bard Financial Services Inc. increased its position in shares of Barrick Gold by 4.8% during the second quarter. Bard Financial Services Inc. now owns 32,625 shares of the gold and copper producer’s stock worth $552,000 after acquiring an additional 1,500 shares during the period. Mackenzie Financial Corp increased its position in shares of Barrick Gold by 10.9% during the third quarter. Mackenzie Financial Corp now owns 17,995,217 shares of the gold and copper producer’s stock worth $255,406,000 after acquiring an additional 1,769,110 shares during the period. Finally, Perpetual Ltd increased its position in shares of Barrick Gold by 10.0% during the third quarter. Perpetual Ltd now owns 4,814,733 shares of the gold and copper producer’s stock worth $70,054,000 after acquiring an additional 435,837 shares during the period. 58.20% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities analysts have recently commented on the stock. Jefferies Financial Group reduced their target price on shares of Barrick Gold from $18.00 to $15.00 and set a “hold” rating on the stock in a research report on Wednesday, October 4th. Citigroup dropped their price objective on shares of Barrick Gold from $20.00 to $18.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 28th. TD Securities dropped their price objective on shares of Barrick Gold from $25.00 to $22.00 and set a “buy” rating on the stock in a research note on Monday, November 6th. National Bank Financial reiterated a “sector perform overweight” rating on shares of Barrick Gold in a research note on Wednesday. Finally, Scotiabank dropped their price objective on shares of Barrick Gold from $26.00 to $25.00 and set an “outperform” rating on the stock in a research note on Friday, November 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Barrick Gold currently has a consensus rating of “Moderate Buy” and an average target price of $22.18.
Get Our Latest Research Report on GOLD
Barrick Gold Stock Performance
Shares of NYSE GOLD traded up $0.14 during midday trading on Friday, reaching $17.49. The company had a trading volume of 16,496,865 shares, compared to its average volume of 14,596,515. The business’s 50-day simple moving average is $16.89 and its 200 day simple moving average is $16.47. The stock has a market cap of $30.70 billion, a P/E ratio of 583.00, a P/E/G ratio of 1.10 and a beta of 0.56. Barrick Gold Corp has a 1 year low of $13.82 and a 1 year high of $20.75. The company has a current ratio of 3.07, a quick ratio of 2.28 and a debt-to-equity ratio of 0.15.
Barrick Gold (NYSE:GOLD – Get Free Report) TSE: ABX last posted its quarterly earnings results on Thursday, November 2nd. The gold and copper producer reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.03. The business had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.93 billion. Barrick Gold had a net margin of 0.52% and a return on equity of 3.88%. The business’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter last year, the company posted $0.13 earnings per share. On average, analysts forecast that Barrick Gold Corp will post 0.81 earnings per share for the current fiscal year.
Barrick Gold Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Thursday, November 30th were issued a $0.10 dividend. The ex-dividend date of this dividend was Wednesday, November 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.29%. Barrick Gold’s dividend payout ratio is currently 1,300.00%.
About Barrick Gold
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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Read More:Barrick Gold Corp (NYSE:GOLD) Stake Trimmed by RWC Asset Management LLP
2024-01-07 18:00:00
