Jaffetilchin Investment Partners LLC Makes New $819,000 Investment in Barrick Gold Corp (NYSE:GOLD)

Jaffetilchin Investment Partners LLC acquired a new position in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) during the 3rd quarter, HoldingsChannel.com reports. The firm acquired 41,196 shares of the gold and copper producer’s stock, valued at approximately $819,000.

Several other large investors have also recently made changes to their positions in the stock. Clean Yield Group purchased a new stake in Barrick Gold in the first quarter valued at approximately $25,000. Exchange Traded Concepts LLC lifted its stake in Barrick Gold by 198.1% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,407 shares of the gold and copper producer’s stock worth $28,000 after acquiring an additional 935 shares in the last quarter. Crewe Advisors LLC boosted its holdings in Barrick Gold by 628.8% during the 2nd 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 Barrick Gold in the 2nd quarter valued at about $32,000. Finally, Eastern Bank purchased a new stake in Barrick Gold during the third quarter worth about $32,000. 62.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GOLD. Argus upgraded shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a report on Thursday, August 29th. Jefferies Financial Group upped their price objective on Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. TD Securities decreased their target price on Barrick Gold from $27.00 to $26.00 and set a “buy” rating for the company in a report on Friday. Scotiabank cut their price target on Barrick Gold from $25.00 to $24.00 and set a “sector outperform” rating on the stock in a report on Friday. Finally, UBS Group cut Barrick Gold from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $23.00 to $22.00 in a research note on Wednesday, October 30th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $23.90.

Barrick Gold Stock Down 5.4 %

GOLD stock opened at $17.40 on Tuesday. The stock has a market cap of $30.42 billion, a P/E ratio of 18.71, a PEG ratio of 0.43 and a beta of 0.56. 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 twelve month low of $13.76 and a twelve month high of $21.35. The company’s 50 day moving average is $19.95 and its two-hundred day moving average is $18.49.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its quarterly 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. Barrick Gold had a net margin of 13.19% and a return on equity of 5.85%. The firm had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same period in the previous year, the company earned $0.19 earnings per share. Barrick Gold’s quarterly revenue was up 11.6% compared to the same quarter last year. Research analysts expect that Barrick Gold Corp will post 1.29 earnings per share for the current fiscal year.

Barrick Gold Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors 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 dividend on an annualized basis and a dividend yield of 2.30%. Barrick Gold’s dividend payout ratio (DPR) is presently 43.01%.

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.