Bangor Savings Bank Acquires 2,267 Shares of Barrick Gold Corp (NYSE:GOLD)

Bangor Savings Bank boosted its position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 12.4% in the 1st quarter, Holdings Channel.com reports. The fund owned 20,541 shares of the gold and copper producer’s stock after purchasing an additional 2,267 shares during the period. Bangor Savings Bank’s holdings in Barrick Gold were worth $342,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Principal Securities Inc. bought a new stake in Barrick Gold during the 4th quarter valued at $26,000. EverSource Wealth Advisors LLC grew its position in Barrick Gold by 175.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,794 shares of the gold and copper producer’s stock valued at $32,000 after purchasing an additional 1,143 shares during the last quarter. Bruce G. Allen Investments LLC purchased a new stake in Barrick Gold during the 4th quarter valued at about $35,000. Mark Sheptoff Financial Planning LLC purchased a new stake in Barrick Gold during the 4th quarter valued at about $45,000. Finally, Optiver Holding B.V. purchased a new stake in shares of Barrick Gold during the 4th quarter valued at about $46,000. Hedge funds and other institutional investors own 62.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GOLD. 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. Argus restated a “hold” rating on shares of Barrick Gold in a research note on Monday, February 26th. Royal Bank of Canada restated an “outperform” rating and set a $18.00 target price on shares of Barrick Gold in a research note on Monday, March 4th. National Bank Financial restated a “sector perform overweight” rating on shares of Barrick Gold in a research note on Monday, April 8th. Finally, Jefferies Financial Group began coverage on shares of Barrick Gold in a research note on Thursday, February 29th. They set a “buy” rating and a $21.00 target price on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Barrick Gold currently has an average rating of “Moderate Buy” and a consensus price target of $21.60.

Barrick Gold Stock Performance

NYSE GOLD opened at $16.56 on Monday. The company has a market cap of $29.07 billion, a P/E ratio of 20.20, a P/E/G ratio of 0.48 and a beta of 0.59. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.49 and a current ratio of 3.32. The business’s 50 day moving average price is $16.86 and its 200-day moving average price is $16.48. Barrick Gold Corp has a fifty-two week low of $13.76 and a fifty-two week high of $18.95.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its earnings results on Wednesday, May 1st. The gold and copper producer reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.04. The firm 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%. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 EPS. Sell-side analysts predict that Barrick Gold Corp will post 1.06 earnings per share for the current year.

Barrick Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Friday, May 31st were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.42%. The ex-dividend date was Friday, May 31st. This is an increase from Barrick Gold’s previous quarterly dividend of $0.07. Barrick Gold’s dividend payout ratio is 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.