Confluence Investment Management LLC Increases Stock Holdings in Barrick Gold Corp (NYSE:GOLD)

Confluence Investment Management LLC boosted its stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 6.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 28,777 shares of the gold and copper producer’s stock after buying an additional 1,685 shares during the quarter. Confluence Investment Management LLC’s holdings in Barrick Gold were worth $572,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Clean Yield Group bought a new position in shares of Barrick Gold during the first quarter valued at about $25,000. Exchange Traded Concepts LLC lifted 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 worth $28,000 after buying an additional 935 shares in the last quarter. Crewe Advisors LLC boosted its stake in shares of Barrick Gold by 628.8% in the 2nd quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer’s stock worth $30,000 after buying an additional 1,572 shares during the last quarter. Jackson Grant Investment Advisers Inc. bought a new position in shares of Barrick Gold in the second quarter valued at approximately $32,000. Finally, Eastern Bank purchased a new stake in shares of Barrick Gold during the third quarter valued at approximately $32,000. 62.85% of the stock is currently owned by institutional investors.

Barrick Gold Stock Performance

NYSE GOLD opened at $18.40 on Friday. The company’s 50 day simple moving average is $19.95 and its two-hundred day simple moving average is $18.46. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.01 and a quick ratio of 2.31. Barrick Gold Corp has a 1 year low of $13.76 and a 1 year high of $21.35. The stock has a market capitalization of $32.16 billion, a PE ratio of 21.40, a P/E/G ratio of 0.43 and a beta of 0.56.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its quarterly earnings data on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.05. Barrick Gold had a return on equity of 5.53% and a net margin of 12.78%. The company had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same quarter last year, the company earned $0.19 earnings per share. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. Analysts predict that Barrick Gold Corp will post 1.29 earnings per share for the current fiscal year.

Barrick Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend is Friday, November 29th. Barrick Gold’s dividend payout ratio (DPR) is 46.51%.

Wall Street Analyst Weigh In

GOLD has been the subject of a number of recent analyst reports. Jefferies Financial Group upped their price objective on Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, September 13th. Argus upgraded Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research note on Thursday, August 29th. Raymond James lowered their target price on Barrick Gold from $26.50 to $26.00 and set an “outperform” rating on the stock in a research note on Thursday, September 26th. Scotiabank dropped their price objective on shares of Barrick Gold from $25.00 to $24.00 and set a “sector outperform” rating on the stock in a report on Friday. Finally, UBS Group downgraded shares of Barrick Gold from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $23.00 to $22.00 in a research note on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $23.90.

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.