HighPoint Advisor Group LLC Makes New Investment in Barrick Gold Corp (NYSE:GOLD)

HighPoint Advisor Group LLC acquired a new position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 28,711 shares of the gold and copper producer’s stock, valued at approximately $519,000.

A number of other large investors also recently bought and sold shares of GOLD. Wellington Management Group LLP increased its holdings 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 purchasing an additional 37,128,653 shares in the last quarter. Van ECK Associates Corp increased its holdings 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 purchasing an additional 7,150,142 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Barrick Gold by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 63,671,495 shares of the gold and copper producer’s stock valued at $1,151,817,000 after purchasing an additional 1,103,710 shares in the last quarter. Capital World Investors increased its holdings 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 purchasing an additional 6,417,244 shares in the last quarter. Finally, First Eagle Investment Management LLC increased its holdings in shares of Barrick Gold by 6.4% in the 4th quarter. First Eagle Investment Management LLC now owns 44,681,411 shares of the gold and copper producer’s stock valued at $808,287,000 after purchasing an additional 2,680,178 shares in the last quarter. Hedge funds and other institutional investors own 62.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on GOLD. Jefferies Financial Group began coverage on shares of Barrick Gold in a research note on Thursday, February 29th. They issued a “buy” rating and a $21.00 price objective on the stock. StockNews.com raised shares of Barrick Gold from a “hold” rating to a “buy” rating in a research note on Wednesday, February 21st. Royal Bank of Canada reissued an “outperform” rating and issued a $18.00 price objective on shares of Barrick Gold in a research note on Monday, March 4th. BMO Capital Markets lowered their price objective on shares of Barrick Gold from $27.00 to $26.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 17th. Finally, Argus reissued a “hold” rating on shares of Barrick Gold in a research note on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Barrick Gold presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.60.

Barrick Gold Trading Up 1.7 %

Shares of GOLD stock opened at $16.41 on Thursday. The firm has a market cap of $28.81 billion, a P/E ratio of 20.01, a PEG ratio of 0.46 and a beta of 0.59. Barrick Gold Corp has a 1-year low of $13.76 and a 1-year high of $18.95. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.32 and a quick ratio of 2.49. The firm’s 50-day simple moving average is $16.91 and its 200-day simple moving average is $16.50.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its quarterly earnings data on Wednesday, May 1st. The gold and copper producer reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.04. The business 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 company’s revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.14 EPS. As a group, equities analysts forecast that Barrick Gold Corp will post 1.06 EPS for the current year.

Barrick Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Friday, May 31st were issued a dividend of $0.10 per share. This is a positive change from Barrick Gold’s previous quarterly dividend of $0.07. This represents a $0.40 annualized dividend and a dividend yield of 2.44%. The ex-dividend date was Friday, May 31st. Barrick Gold’s dividend payout ratio is presently 48.78%.

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.