Hara Capital LLC Invests $1.69 Million in Barrick Gold Corp (NYSE:GOLD)

Hara Capital LLC purchased a new position in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) during the third quarter, Holdings Channel.com reports. The fund purchased 84,953 shares of the gold and copper producer’s stock, valued at approximately $1,690,000. Barrick Gold accounts for 1.0% of Hara Capital LLC’s portfolio, making the stock its 22nd largest position.

Other institutional investors have also bought and sold shares of the company. Principal Financial Group Inc. raised its stake in shares of Barrick Gold by 19.9% in the third quarter. Principal Financial Group Inc. now owns 483,613 shares of the gold and copper producer’s stock valued at $9,630,000 after buying an additional 80,366 shares during the period. Concurrent Investment Advisors LLC purchased a new stake in Barrick Gold in the 3rd quarter worth about $337,000. Fractal Investments LLC increased its holdings in Barrick Gold by 32.3% in the 3rd quarter. Fractal Investments LLC now owns 16,400 shares of the gold and copper producer’s stock worth $326,000 after acquiring an additional 4,000 shares during the last quarter. Crescent Grove Advisors LLC bought a new stake in Barrick Gold in the 3rd quarter valued at about $267,000. Finally, Whitener Capital Management Inc. lifted its holdings in Barrick Gold by 0.9% during the third quarter. Whitener Capital Management Inc. now owns 73,185 shares of the gold and copper producer’s stock valued at $1,456,000 after purchasing an additional 675 shares during the last quarter. Hedge funds and other institutional investors own 62.85% of the company’s stock.

Barrick Gold Price Performance

Shares of GOLD traded down $0.08 during trading hours on Thursday, reaching $18.35. 8,358,747 shares of the company’s stock traded hands, compared to its average volume of 21,084,504. Barrick Gold Corp has a 12 month low of $13.76 and a 12 month high of $21.35. The company has a current ratio of 3.01, a quick ratio of 2.31 and a debt-to-equity ratio of 0.15. The stock has a market cap of $32.08 billion, a PE ratio of 21.43, a price-to-earnings-growth ratio of 0.45 and a beta of 0.56. The firm’s 50 day simple moving average is $20.02 and its 200-day simple moving average is $18.44.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced 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. The business had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.13 billion. Barrick Gold had a net margin of 12.78% and a return on equity of 5.53%. Barrick Gold’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.19 earnings per share. Equities analysts expect that Barrick Gold Corp will post 1.29 EPS for the current year.

Barrick Gold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.40 dividend on an annualized basis and a yield of 2.18%. Barrick Gold’s payout ratio is 46.51%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on GOLD shares. Argus raised shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Thursday, August 29th. Jefferies Financial Group boosted their target price on shares of Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a report on Friday, September 13th. Raymond James cut their price target on Barrick Gold from $26.50 to $26.00 and set an “outperform” rating for the company in a report on Thursday, September 26th. UBS Group cut Barrick Gold from a “buy” rating to a “neutral” rating and reduced their price target for the company from $23.00 to $22.00 in a research report on Wednesday, October 30th. Finally, Royal Bank of Canada increased their price objective on Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $23.50.

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.