Barrick Gold Corp (NYSE:GOLD) Shares Purchased by Foundation Resource Management Inc.

Foundation Resource Management Inc. boosted its holdings in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 0.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 700,320 shares of the gold and copper producer’s stock after acquiring an additional 1,903 shares during the quarter. Barrick Gold comprises 1.8% of Foundation Resource Management Inc.’s holdings, making the stock its 20th largest holding. Foundation Resource Management Inc.’s holdings in Barrick Gold were worth $11,653,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Addenda Capital Inc. boosted its position in shares of Barrick Gold by 88.1% during the 4th quarter. Addenda Capital Inc. now owns 3,105,335 shares of the gold and copper producer’s stock worth $56,176,000 after purchasing an additional 1,454,220 shares during the period. 1832 Asset Management L.P. grew its stake in shares of Barrick Gold by 19.2% in the fourth quarter. 1832 Asset Management L.P. now owns 1,051,755 shares of the gold and copper producer’s stock valued at $19,026,000 after buying an additional 169,350 shares in the last quarter. Klein Pavlis & Peasley Financial Inc. acquired a new position in Barrick Gold during the 4th quarter worth about $1,331,000. Corient Private Wealth LLC boosted its holdings in Barrick Gold by 0.9% during the 4th quarter. Corient Private Wealth LLC now owns 123,651 shares of the gold and copper producer’s stock valued at $2,237,000 after acquiring an additional 1,066 shares during the period. Finally, DAVENPORT & Co LLC grew its position in Barrick Gold by 17.9% in the 4th quarter. DAVENPORT & Co LLC now owns 73,627 shares of the gold and copper producer’s stock valued at $1,332,000 after acquiring an additional 11,166 shares in the last quarter. Hedge funds and other institutional investors own 62.85% of the company’s stock.

Barrick Gold Stock Performance

GOLD traded down $0.40 during trading on Friday, hitting $16.56. The stock had a trading volume of 35,931,251 shares, compared to its average volume of 19,109,250. The firm has a market capitalization of $29.07 billion, a P/E ratio of 20.20, a PEG ratio of 0.48 and a beta of 0.59. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.49 and a current ratio of 3.32. Barrick Gold Corp has a twelve month low of $13.76 and a twelve month high of $18.95. The company’s 50-day moving average price is $16.86 and its 200 day moving average price is $16.50.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its quarterly earnings data on Wednesday, May 1st. The gold and copper producer reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.04. The company had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.74 billion. Barrick Gold had a return on equity of 4.88% and a net margin of 12.58%. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.14 EPS. On average, equities research analysts forecast that Barrick Gold Corp will post 1.06 EPS for the current fiscal year.

Barrick Gold Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Friday, May 31st were given a dividend of $0.10 per share. This is a positive change from Barrick Gold’s previous quarterly dividend of $0.07. This represents a $0.40 annualized dividend and a yield of 2.42%. The ex-dividend date was Friday, May 31st. Barrick Gold’s dividend payout ratio is presently 48.78%.

Analyst Ratings Changes

Several research firms have commented on GOLD. Royal Bank of Canada restated an “outperform” rating and issued a $18.00 price target on shares of Barrick Gold in a research note on Monday, March 4th. BMO Capital Markets cut their price target on Barrick Gold from $27.00 to $26.00 and set an “outperform” rating on the stock in a report on Wednesday, April 17th. Jefferies Financial Group started coverage on Barrick Gold in a research report on Thursday, February 29th. They issued a “buy” rating and a $21.00 price target on the stock. Argus reissued a “hold” rating on shares of Barrick Gold in a research report on Monday, February 26th. Finally, National Bank Financial reaffirmed a “sector perform overweight” rating on shares of Barrick Gold in a report on Monday, April 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.60.

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.