Assenagon Asset Management S.A. Has $2.15 Million Holdings in Barrick Gold Corp (NYSE:GOLD)

Assenagon Asset Management S.A. grew its stake in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 458.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 108,148 shares of the gold and copper producer’s stock after purchasing an additional 88,770 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Barrick Gold were worth $2,151,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of GOLD. Clean Yield Group acquired a new stake in Barrick Gold during the first quarter worth approximately $25,000. Exchange Traded Concepts LLC lifted its position in Barrick Gold by 198.1% during the third quarter. Exchange Traded Concepts LLC now owns 1,407 shares of the gold and copper producer’s stock worth $28,000 after acquiring an additional 935 shares during the last quarter. Crewe Advisors LLC raised its position in shares of 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 in the last quarter. Jackson Grant Investment Advisers Inc. acquired a new stake in shares of Barrick Gold in the second quarter valued at approximately $32,000. Finally, Eastern Bank acquired a new stake in shares of Barrick Gold in the third quarter valued at approximately $32,000. 62.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on GOLD shares. Argus upgraded shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research report on Thursday, August 29th. Jefferies Financial Group lifted their price target on shares of Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, September 13th. UBS Group downgraded shares of Barrick Gold from a “buy” rating to a “neutral” rating and dropped their price target for the company from $23.00 to $22.00 in a research report on Wednesday. Raymond James decreased 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, September 26th. Finally, Royal Bank of Canada lifted their price objective 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. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.50.

Barrick Gold Stock Performance

Shares of Barrick Gold stock opened at $19.32 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 twelve month low of $13.76 and a twelve month high of $21.35. The stock has a market cap of $33.77 billion, a price-to-earnings ratio of 22.47, a P/E/G ratio of 0.47 and a beta of 0.55. The company’s fifty day moving average is $20.14 and its 200 day moving average is $18.38.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its quarterly earnings data on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share 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 company had revenue of $3.16 billion for the quarter, compared to analysts’ expectations of $3.13 billion. During the same quarter in the previous year, the firm posted $0.19 earnings per share. Barrick Gold’s revenue for the quarter was up 11.6% on a year-over-year basis. Sell-side analysts forecast that Barrick Gold Corp will post 1.27 EPS for the current year.

Barrick Gold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors 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 2.07%. Barrick Gold’s payout ratio is 46.51%.

Barrick Gold 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.