Lighthouse Investment Partners LLC Sells 52,194 Shares of Barrick Gold Corp (NYSE:GOLD)

Lighthouse Investment Partners LLC reduced its stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 14.4% during the 2nd quarter, HoldingsChannel reports. The fund owned 311,142 shares of the gold and copper producer’s stock after selling 52,194 shares during the quarter. Lighthouse Investment Partners LLC’s holdings in Barrick Gold were worth $5,190,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in GOLD. Edge Wealth Management LLC lifted its position in Barrick Gold by 6.3% during the 1st quarter. Edge Wealth Management LLC now owns 12,255 shares of the gold and copper producer’s stock worth $204,000 after buying an additional 725 shares in the last quarter. Greenleaf Trust lifted its position in Barrick Gold by 3.5% during the 1st quarter. Greenleaf Trust now owns 25,119 shares of the gold and copper producer’s stock worth $418,000 after buying an additional 838 shares in the last quarter. DORCHESTER WEALTH MANAGEMENT Co lifted its position in Barrick Gold by 2.4% during the 1st quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 36,519 shares of the gold and copper producer’s stock worth $608,000 after buying an additional 850 shares in the last quarter. Bangor Savings Bank lifted its position in Barrick Gold by 4.4% during the 2nd quarter. Bangor Savings Bank now owns 21,445 shares of the gold and copper producer’s stock worth $358,000 after buying an additional 904 shares in the last quarter. Finally, S.A. Mason LLC lifted its position in Barrick Gold by 3.5% during the 1st quarter. S.A. Mason LLC now owns 28,543 shares of the gold and copper producer’s stock worth $475,000 after buying an additional 973 shares in the last quarter. 62.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on GOLD. Jefferies Financial Group boosted their price objective on shares of Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Royal Bank of Canada upped their price target on shares of Barrick Gold from $21.00 to $22.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. Scotiabank upped their price target on shares of Barrick Gold from $23.00 to $25.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. Raymond James decreased their price target on shares of Barrick Gold from $26.50 to $26.00 and set an “outperform” rating on the stock in a research note on Thursday. Finally, CIBC increased their target price on shares of Barrick Gold from $23.00 to $27.00 and gave the stock an “outperformer” rating in a research report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $23.60.

Barrick Gold Stock Performance

Shares of Barrick Gold stock opened at $20.23 on Friday. The company has a 50 day moving average of $19.34 and a 200-day moving average of $17.76. Barrick Gold Corp has a 1-year low of $13.76 and a 1-year high of $21.21. 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 company has a market cap of $35.46 billion, a PE ratio of 24.67, a price-to-earnings-growth ratio of 0.49 and a beta of 0.55.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its quarterly earnings results on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. The company had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.13 billion. Barrick Gold had a net margin of 12.78% and a return on equity of 5.53%. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.19 EPS. As a group, equities research analysts forecast that Barrick Gold Corp will post 1.25 earnings per share for the current fiscal year.

Barrick Gold Announces Dividend

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