Exchange Traded Concepts LLC Has $28,000 Position in Barrick Gold Corp (NYSE:GOLD)

Exchange Traded Concepts LLC increased its position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 198.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,407 shares of the gold and copper producer’s stock after buying an additional 935 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Barrick Gold were worth $28,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GOLD. DCF Advisers LLC grew its holdings in shares of Barrick Gold by 48.3% during the 2nd quarter. DCF Advisers LLC now owns 107,500 shares of the gold and copper producer’s stock worth $1,793,000 after purchasing an additional 35,000 shares in the last quarter. Evexia Wealth LLC bought a new position in Barrick Gold in the third quarter worth $2,382,000. 1832 Asset Management L.P. boosted its stake in Barrick Gold by 3.6% during the first quarter. 1832 Asset Management L.P. now owns 1,089,855 shares of the gold and copper producer’s stock worth $18,135,000 after buying an additional 38,100 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in Barrick Gold in the 2nd quarter valued at $934,000. Finally, Financial Sense Advisors Inc. raised its stake in shares of Barrick Gold by 142.1% in the 1st quarter. Financial Sense Advisors Inc. now owns 826,507 shares of the gold and copper producer’s stock valued at $13,753,000 after buying an additional 485,077 shares in the last quarter. 62.85% of the stock is currently owned by institutional investors.

Barrick Gold Price Performance

Barrick Gold stock opened at $20.80 on Thursday. Barrick Gold Corp has a 52 week low of $13.76 and a 52 week high of $21.35. The firm has a market cap of $36.45 billion, a P/E ratio of 25.36, a P/E/G ratio of 0.47 and a beta of 0.55. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.31 and a current ratio of 3.01. The business’s fifty day moving average is $20.16 and its two-hundred day moving average is $18.30.

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 (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.05. The business had revenue of $3.16 billion for 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 company earned $0.19 EPS. Equities research analysts forecast that Barrick Gold Corp will post 1.27 earnings per share for the current fiscal year.

Barrick Gold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend was Friday, August 30th. Barrick Gold’s dividend payout ratio is currently 48.78%.

Analyst Upgrades and Downgrades

GOLD has been the topic of a number of analyst reports. Scotiabank upped their target price 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. UBS Group upped their price objective on Barrick Gold from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. CIBC raised their target price on Barrick Gold from $23.00 to $27.00 and gave the stock an “outperformer” rating in a research report on Wednesday, July 10th. Raymond James lowered their price target on Barrick Gold from $26.50 to $26.00 and set an “outperform” rating on the stock in a research report on Thursday, September 26th. Finally, Argus raised Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a report on Thursday, August 29th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $23.60.

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.