Jupiter Asset Management Ltd. Has $76.02 Million Position in Barrick Gold Corp (NYSE:GOLD)

Jupiter Asset Management Ltd. decreased its position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 7.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,558,141 shares of the gold and copper producer’s stock after selling 379,269 shares during the period. Barrick Gold comprises 0.7% of Jupiter Asset Management Ltd.’s holdings, making the stock its 29th largest holding. Jupiter Asset Management Ltd. owned approximately 0.26% of Barrick Gold worth $76,022,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in GOLD. Global Retirement Partners LLC increased its stake in shares of Barrick Gold by 15.3% in the 1st quarter. Global Retirement Partners LLC now owns 5,434 shares of the gold and copper producer’s stock valued at $90,000 after purchasing an additional 721 shares during the last quarter. Edge Wealth Management LLC grew its position in Barrick Gold by 6.3% in the first quarter. Edge Wealth Management LLC now owns 12,255 shares of the gold and copper producer’s stock valued at $204,000 after acquiring an additional 725 shares during the last quarter. Greenleaf Trust raised its stake in Barrick Gold by 3.5% during the first quarter. Greenleaf Trust now owns 25,119 shares of the gold and copper producer’s stock worth $418,000 after acquiring an additional 838 shares in the last quarter. DORCHESTER WEALTH MANAGEMENT Co lifted its holdings in shares of Barrick Gold by 2.4% in the first quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 36,519 shares of the gold and copper producer’s stock worth $608,000 after acquiring an additional 850 shares during the last quarter. Finally, Bangor Savings Bank boosted its stake in shares of Barrick Gold by 4.4% in the 2nd quarter. Bangor Savings Bank now owns 21,445 shares of the gold and copper producer’s stock valued at $358,000 after purchasing an additional 904 shares in the last quarter. 62.85% of the stock is owned by institutional investors.

Barrick Gold Stock Up 0.8 %

Barrick Gold stock opened at $19.76 on Thursday. The firm has a 50 day moving average price of $18.82 and a two-hundred day moving average price of $17.36. 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 52-week low of $13.76 and a 52-week high of $20.89. The firm has a market cap of $34.63 billion, a price-to-earnings ratio of 24.10, a PEG ratio of 0.47 and a beta of 0.55.

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 (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.05. Barrick Gold had a net margin of 12.78% and a return on equity of 5.55%. The business had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same quarter in the previous year, the business earned $0.19 earnings per share. Barrick Gold’s revenue for the quarter was up 11.6% on a year-over-year basis. Equities analysts predict that Barrick Gold Corp will post 1.22 EPS for the current year.

Barrick Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be given a dividend of $0.10 per share. The ex-dividend date is Friday, August 30th. This represents a $0.40 annualized dividend and a dividend yield of 2.02%. Barrick Gold’s payout ratio is 48.78%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on GOLD shares. Royal Bank of Canada upped their price objective on shares of Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a research report on Tuesday. CIBC upped their price target 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. Scotiabank raised their price objective on Barrick Gold from $23.00 to $25.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. Jefferies Financial Group upped their target price on Barrick Gold from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, July 12th. Finally, Argus raised Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research note on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $23.20.

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.