Oxbow Advisors LLC Has $1.29 Million Stock Position in Barrick Gold Corp (NYSE:GOLD)

Oxbow Advisors LLC grew its holdings in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 3.7% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 64,847 shares of the gold and copper producer’s stock after buying an additional 2,308 shares during the period. Oxbow Advisors LLC’s holdings in Barrick Gold were worth $1,290,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of GOLD. Clean Yield Group bought a new position in shares of Barrick Gold during the 1st quarter worth about $25,000. Exchange Traded Concepts LLC grew its stake in Barrick Gold by 198.1% in the third quarter. Exchange Traded Concepts LLC now owns 1,407 shares of the gold and copper producer’s stock valued at $28,000 after acquiring an additional 935 shares during the period. Crewe Advisors LLC grew its stake in Barrick Gold by 628.8% in the second quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer’s stock valued at $30,000 after acquiring an additional 1,572 shares during the period. Jackson Grant Investment Advisers Inc. acquired a new position in shares of Barrick Gold during the second quarter worth approximately $32,000. Finally, Eastern Bank acquired a new position in shares of Barrick Gold during the third quarter worth approximately $32,000. 62.85% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Jefferies Financial Group boosted 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. Raymond James dropped their price target on shares of Barrick Gold from $26.50 to $26.00 and set an “outperform” rating on the stock in a research report on Thursday, September 26th. Scotiabank decreased their price objective on Barrick Gold from $25.00 to $24.00 and set a “sector outperform” rating for the company in a report on Friday. Argus upgraded Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a report on Thursday, August 29th. Finally, UBS Group downgraded Barrick Gold from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $23.00 to $22.00 in a report on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $23.90.

Barrick Gold Stock Performance

Shares of NYSE:GOLD traded down $0.08 during midday trading on Friday, reaching $18.40. The company had a trading volume of 27,997,677 shares, compared to its average volume of 21,239,021. The stock has a market cap of $32.16 billion, a P/E ratio of 19.81, a P/E/G ratio of 0.45 and a beta of 0.56. The company’s 50 day moving average price is $19.95 and its 200 day moving average price is $18.46. The company has a current ratio of 3.01, a quick ratio of 2.31 and a debt-to-equity ratio of 0.15. Barrick Gold Corp has a 52-week low of $13.76 and a 52-week high of $21.35.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its earnings results on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. The firm had revenue of $3.16 billion for the quarter, compared to analysts’ expectations of $3.13 billion. Barrick Gold had a net margin of 12.78% and a return on equity of 5.53%. The company’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.19 earnings per share. As a group, sell-side analysts anticipate that Barrick Gold Corp will post 1.29 EPS for the current fiscal year.

Barrick Gold Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a dividend of $0.10 per share. The ex-dividend date is Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.17%. Barrick Gold’s dividend payout ratio is presently 43.01%.

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.