911,232 Shares in Barrick Gold Corp (NYSE:GOLD) Purchased by Cheviot Value Management LLC

Cheviot Value Management LLC acquired a new position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 911,232 shares of the gold and copper producer’s stock, valued at approximately $15,199,000. Barrick Gold makes up approximately 3.0% of Cheviot Value Management LLC’s holdings, making the stock its 10th largest holding.

A number of other hedge funds have also modified their holdings of the company. Wellington Management Group LLP grew its stake in Barrick Gold by 58.4% in the fourth 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. First Eagle Investment Management LLC grew its stake in Barrick Gold by 31.6% in the first quarter. First Eagle Investment Management LLC now owns 58,820,050 shares of the gold and copper producer’s stock valued at $978,766,000 after purchasing an additional 14,138,639 shares in the last quarter. Capital World Investors grew its stake in Barrick Gold by 16.4% in the fourth 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. Ruffer LLP grew its stake in Barrick Gold by 198.3% in the fourth quarter. Ruffer LLP now owns 9,606,218 shares of the gold and copper producer’s stock valued at $173,727,000 after purchasing an additional 6,385,566 shares in the last quarter. Finally, EdgePoint Investment Group Inc. grew its stake in Barrick Gold by 38.8% in the first quarter. EdgePoint Investment Group Inc. now owns 18,170,814 shares of the gold and copper producer’s stock valued at $302,366,000 after purchasing an additional 5,080,510 shares in the last quarter. 62.85% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Argus raised Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Thursday, August 29th. Royal Bank of Canada raised their price objective on Barrick Gold from $21.00 to $22.00 and gave the company an “outperform” rating in a research report on Tuesday, September 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 research report on Monday, August 19th. CIBC raised their price objective on Barrick Gold from $23.00 to $27.00 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. Finally, Jefferies Financial Group raised their price objective on Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, September 13th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Barrick Gold has a consensus rating of “Moderate Buy” and an average price target of $23.30.

Barrick Gold Stock Performance

NYSE:GOLD opened at $20.21 on Tuesday. The stock has a market cap of $35.42 billion, a P/E ratio of 24.65, a PEG ratio of 0.49 and a beta of 0.55. The stock has a 50 day simple moving average of $19.24 and a 200 day simple moving average of $17.68. The company has a current ratio of 3.01, a quick ratio of 2.49 and a debt-to-equity ratio of 0.15. Barrick Gold Corp has a 1-year low of $13.76 and a 1-year high of $21.13.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its quarterly earnings data on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.05. The firm had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Barrick Gold had a return on equity of 5.53% and a net margin of 12.78%. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.19 EPS. Research analysts anticipate that Barrick Gold Corp will post 1.22 earnings per share for the current year.

Barrick Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were issued a $0.10 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.40 annualized dividend and a yield of 1.98%. Barrick Gold’s dividend payout ratio is presently 48.78%.

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.