Wahed Invest LLC Boosts Holdings in Barrick Gold Corp (NYSE:GOLD)

Wahed Invest LLC increased its holdings in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 10.4% during the fourth quarter, Holdings Channel reports. The firm owned 13,790 shares of the gold and copper producer’s stock after acquiring an additional 1,300 shares during the quarter. Wahed Invest LLC’s holdings in Barrick Gold were worth $250,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Addenda Capital Inc. raised its holdings in shares of Barrick Gold by 88.1% during the 4th quarter. Addenda Capital Inc. now owns 3,105,335 shares of the gold and copper producer’s stock worth $56,176,000 after acquiring an additional 1,454,220 shares in the last quarter. 1832 Asset Management L.P. raised its holdings in shares of Barrick Gold by 19.2% during the 4th 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 acquiring an additional 169,350 shares in the last quarter. Klein Pavlis & Peasley Financial Inc. purchased a new stake in shares of Barrick Gold during the 4th quarter worth approximately $1,331,000. Corient Private Wealth LLC raised its holdings in shares of Barrick Gold by 0.9% during the 4th quarter. Corient Private Wealth LLC now owns 123,651 shares of the gold and copper producer’s stock worth $2,237,000 after acquiring an additional 1,066 shares in the last quarter. Finally, DAVENPORT & Co LLC raised its holdings in shares of Barrick Gold by 17.9% during the 4th quarter. DAVENPORT & Co LLC now owns 73,627 shares of the gold and copper producer’s stock worth $1,332,000 after acquiring an additional 11,166 shares in the last quarter. 62.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GOLD. StockNews.com raised Barrick Gold from a “hold” rating to a “buy” rating in a report on Wednesday, February 21st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $18.00 price objective on shares of Barrick Gold in a report on Monday, March 4th. Jefferies Financial Group initiated coverage on Barrick Gold in a report on Thursday, February 29th. They set a “buy” rating and a $21.00 price objective on the stock. Argus reissued a “hold” rating on shares of Barrick Gold in a research report on Monday, February 26th. Finally, BMO Capital Markets cut their target price on Barrick Gold from $27.00 to $26.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, Barrick Gold has an average rating of “Moderate Buy” and a consensus price target of $21.60.

Barrick Gold Stock Performance

Shares of Barrick Gold stock opened at $16.14 on Tuesday. The stock’s fifty day moving average is $16.97 and its two-hundred day moving average is $16.51. The company has a market capitalization of $28.34 billion, a PE ratio of 19.68, a price-to-earnings-growth ratio of 0.46 and a beta of 0.59. The company has a quick ratio of 2.49, a current ratio of 3.32 and a debt-to-equity ratio of 0.15. Barrick Gold Corp has a 52 week low of $13.76 and a 52 week high of $18.95.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its quarterly earnings data on Wednesday, May 1st. The gold and copper producer reported $0.19 EPS for the quarter, beating the consensus estimate of $0.15 by $0.04. The company had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.74 billion. Barrick Gold had a return on equity of 4.88% and a net margin of 12.58%. Barrick Gold’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.14 EPS. As a group, analysts expect that Barrick Gold Corp will post 1.06 earnings per share for the current year.

Barrick Gold Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Friday, May 31st were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.48%. This is a boost from Barrick Gold’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Friday, May 31st. 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.