Barrick Gold Corp (NYSE:GOLD) Shares Purchased by Avalon Capital Management

Avalon Capital Management raised its holdings in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 19.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 21,026 shares of the gold and copper producer’s stock after acquiring an additional 3,426 shares during the period. Avalon Capital Management’s holdings in Barrick Gold were worth $351,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. 1832 Asset Management L.P. raised its stake in Barrick Gold by 19.2% during the fourth quarter. 1832 Asset Management L.P. now owns 1,051,755 shares of the gold and copper producer’s stock worth $19,026,000 after purchasing an additional 169,350 shares during the period. Corient Private Wealth LLC lifted its holdings in Barrick Gold by 0.9% in the fourth 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 last quarter. First Hawaiian Bank purchased a new position in Barrick Gold in the first quarter worth approximately $235,000. RFG Advisory LLC grew its position in Barrick Gold by 87.0% in the first quarter. RFG Advisory LLC now owns 41,002 shares of the gold and copper producer’s stock worth $682,000 after acquiring an additional 19,077 shares during the period. Finally, Financial Sense Advisors Inc. increased its stake in Barrick Gold by 142.1% during the first quarter. Financial Sense Advisors Inc. now owns 826,507 shares of the gold and copper producer’s stock worth $13,753,000 after acquiring an additional 485,077 shares during the last quarter. 62.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on GOLD shares. Jefferies Financial Group lifted their price target on shares of Barrick Gold from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, July 12th. CIBC lifted their target price on shares of Barrick Gold from $23.00 to $27.00 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. Finally, Scotiabank upped their price target on Barrick Gold from $23.00 to $25.00 and gave the stock a “sector outperform” rating in a research note on Monday. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Barrick Gold has an average rating of “Moderate Buy” and a consensus price target of $22.67.

Barrick Gold Stock Up 1.2 %

GOLD traded up $0.25 on Friday, reaching $20.49. The company’s stock had a trading volume of 18,395,544 shares, compared to its average volume of 21,825,795. The company has a market capitalization of $35.91 billion, a price-to-earnings ratio of 25.09, a P/E/G ratio of 0.48 and a beta of 0.51. Barrick Gold Corp has a fifty-two week low of $13.76 and a fifty-two week high of $20.89. 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 stock has a 50 day moving average of $17.91 and a two-hundred day moving average of $16.84.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its quarterly earnings results on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. Barrick Gold had a net margin of 12.58% and a return on equity of 4.88%. The company had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same period last year, the firm earned $0.19 EPS. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. As a group, analysts forecast that Barrick Gold Corp will post 1.16 EPS for the current fiscal year.

Barrick Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be given a $0.10 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.40 annualized dividend and a dividend yield of 1.95%. Barrick Gold’s dividend payout ratio is currently 48.78%.

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.