Barrick Gold Corp (NYSE:GOLD) Holdings Raised by Coastal Bridge Advisors LLC

Coastal Bridge Advisors LLC increased its position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 8.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,991 shares of the gold and copper producer’s stock after purchasing an additional 1,000 shares during the quarter. Coastal Bridge Advisors LLC’s holdings in Barrick Gold were worth $217,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Clean Yield Group bought a new stake in shares of Barrick Gold in the 1st quarter worth approximately $25,000. Crewe Advisors LLC lifted its stake in Barrick Gold by 628.8% in the second quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer’s stock valued at $30,000 after buying an additional 1,572 shares during the last quarter. Jackson Grant Investment Advisers Inc. acquired a new position in shares of Barrick Gold during the second quarter valued at $32,000. LRI Investments LLC bought a new position in shares of Barrick Gold during the first quarter worth about $37,000. Finally, City State Bank increased its holdings in shares of Barrick Gold by 338.6% in the 2nd quarter. City State Bank now owns 2,500 shares of the gold and copper producer’s stock worth $42,000 after acquiring an additional 1,930 shares during the period. Institutional investors and hedge funds own 62.85% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on GOLD. Jefferies Financial Group upped their target price on shares of Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. CIBC increased their price objective on Barrick Gold from $23.00 to $27.00 and gave the stock an “outperformer” rating in a report on Wednesday, July 10th. Argus raised Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research note on Thursday, August 29th. Royal Bank of Canada increased their price target on Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Finally, Raymond James cut their price objective 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. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Barrick Gold has an average rating of “Moderate Buy” and a consensus target price of $23.60.

Barrick Gold Stock Performance

NYSE:GOLD opened at $20.23 on Friday. 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 50-day moving average of $19.38 and a 200-day moving average of $17.80. Barrick Gold Corp has a twelve month low of $13.76 and a twelve month high of $21.21. The firm has a market cap of $35.46 billion, a price-to-earnings 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 posted its quarterly earnings results on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.05. Barrick Gold had a net margin of 12.78% and a return on equity of 5.53%. The firm had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same quarter in the previous year, the business posted $0.19 earnings per share. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. 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 announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.98%. The ex-dividend date was Friday, August 30th. Barrick Gold’s dividend 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.