Greenleaf Trust Raises Stake in Barrick Gold Corp (NYSE:GOLD)

Greenleaf Trust grew its stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 2.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,659 shares of the gold and copper producer’s stock after acquiring an additional 540 shares during the quarter. Greenleaf Trust’s holdings in Barrick Gold were worth $510,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of GOLD. Clean Yield Group purchased a new position in Barrick Gold during the first quarter worth about $25,000. Exchange Traded Concepts LLC raised its position in shares of Barrick Gold by 198.1% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,407 shares of the gold and copper producer’s stock valued at $28,000 after buying an additional 935 shares during the period. Crewe Advisors LLC grew its position 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 worth $30,000 after acquiring an additional 1,572 shares during the period. Jackson Grant Investment Advisers Inc. acquired a new stake in Barrick Gold during the second quarter worth $32,000. Finally, Eastern Bank purchased a new stake in Barrick Gold in the third quarter valued at $32,000. Hedge funds and other institutional investors own 62.85% of the company’s stock.

Barrick Gold Stock Down 3.6 %

Shares of NYSE:GOLD opened at $19.59 on Friday. The company has a quick ratio of 2.31, a current ratio of 3.01 and a debt-to-equity ratio of 0.15. Barrick Gold Corp has a fifty-two week low of $13.76 and a fifty-two week high of $21.35. The stock has a market cap of $34.34 billion, a price-to-earnings ratio of 24.07, a price-to-earnings-growth ratio of 0.47 and a beta of 0.55. The firm’s 50 day moving average price is $20.18 and its 200 day moving average price is $18.31.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its earnings results on Monday, August 12th. The gold and copper producer reported $0.32 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the previous year, the firm posted $0.19 earnings per share. The company’s revenue was up 11.6% compared to the same quarter last year. As a group, equities research analysts predict that Barrick Gold Corp will post 1.27 earnings per share for the current fiscal year.

Barrick Gold Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend was Friday, August 30th. Barrick Gold’s payout ratio is 48.78%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GOLD. Jefferies Financial Group raised their price objective on Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. CIBC boosted their price target on shares of Barrick Gold from $23.00 to $27.00 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. Royal Bank of Canada increased their price objective on shares of Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. UBS Group upped their price target on Barrick Gold from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. 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 research note on Thursday, August 29th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $23.60.

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.