Silvercrest Asset Management Group LLC Increases Position in Barrick Gold Corp (NYSE:GOLD)

Silvercrest Asset Management Group LLC boosted its holdings in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 27.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,105 shares of the gold and copper producer’s stock after acquiring an additional 12,000 shares during the period. Silvercrest Asset Management Group LLC’s holdings in Barrick Gold were worth $934,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of GOLD. Wellington Management Group LLP grew its stake in shares of Barrick Gold by 58.4% in the 4th quarter. Wellington Management Group LLP now owns 100,680,644 shares of the gold and copper producer’s stock valued at $1,821,963,000 after buying an additional 37,128,653 shares during the period. Van ECK Associates Corp grew its stake in shares of Barrick Gold by 9.7% in the 4th quarter. Van ECK Associates Corp now owns 80,933,517 shares of the gold and copper producer’s stock valued at $1,464,070,000 after buying an additional 7,150,142 shares during the period. Vanguard Group Inc. grew its stake in shares of Barrick Gold by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 64,761,067 shares of the gold and copper producer’s stock valued at $1,077,624,000 after buying an additional 1,089,572 shares during the period. First Eagle Investment Management LLC grew its stake in shares of Barrick Gold by 31.6% in the 1st quarter. First Eagle Investment Management LLC now owns 58,820,050 shares of the gold and copper producer’s stock valued at $978,766,000 after buying an additional 14,138,639 shares during the period. Finally, Capital World Investors grew its stake in shares of Barrick Gold by 16.4% in the 4th quarter. Capital World Investors now owns 45,479,229 shares of the gold and copper producer’s stock valued at $821,790,000 after buying an additional 6,417,244 shares during the period. Hedge funds and other institutional investors own 62.85% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. National Bank Financial reissued a “sector perform overweight” rating on shares of Barrick Gold in a research note on Monday, April 8th. BMO Capital Markets decreased their price objective on shares of Barrick Gold from $27.00 to $26.00 and set an “outperform” rating on the stock in a report on Wednesday, April 17th. CIBC upped their price objective on shares of Barrick Gold from $23.00 to $27.00 and gave the stock an “outperformer” rating in a report on Wednesday, July 10th. Finally, Jefferies Financial Group upped their price objective on shares of Barrick Gold from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, July 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $22.20.

Barrick Gold Price Performance

Barrick Gold stock opened at $18.14 on Wednesday. The firm has a market cap of $31.79 billion, a PE ratio of 22.12, a price-to-earnings-growth ratio of 0.47 and a beta of 0.51. Barrick Gold Corp has a 52-week low of $13.76 and a 52-week high of $19.45. The company has a quick ratio of 2.49, a current ratio of 3.32 and a debt-to-equity ratio of 0.15. The company’s 50 day moving average is $17.26 and its two-hundred day moving average is $16.50.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its earnings results on Wednesday, May 1st. The gold and copper producer reported $0.19 earnings per share (EPS) for the quarter, topping 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 net margin of 12.58% and a return on equity of 4.88%. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.14 EPS. On average, research analysts expect that Barrick Gold Corp will post 1.16 EPS for the current fiscal year.

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.