Barrick Gold Corp (NYSE:GOLD) Holdings Increased by EdgePoint Investment Group Inc.

EdgePoint Investment Group Inc. grew its stake in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 3.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,837,028 shares of the gold and copper producer’s stock after buying an additional 666,214 shares during the quarter. Barrick Gold comprises 2.6% of EdgePoint Investment Group Inc.’s holdings, making the stock its 17th biggest position. EdgePoint Investment Group Inc. owned about 1.07% of Barrick Gold worth $314,254,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GOLD. Clean Yield Group bought a new stake in shares of Barrick Gold during the 1st quarter worth about $25,000. Principal Securities Inc. acquired a new position in shares of Barrick Gold in the 4th quarter worth approximately $26,000. Crewe Advisors LLC grew 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 purchasing an additional 1,572 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Barrick Gold by 175.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,794 shares of the gold and copper producer’s stock worth $32,000 after purchasing an additional 1,143 shares during the last quarter. Finally, Jackson Grant Investment Advisers Inc. acquired a new position in shares of Barrick Gold in the 2nd quarter worth approximately $32,000. 62.85% of the stock is currently owned by institutional investors.

Barrick Gold Trading Up 1.4 %

Shares of Barrick Gold stock opened at $20.71 on Thursday. The stock has a market capitalization of $36.30 billion, a P/E ratio of 25.26, a price-to-earnings-growth ratio of 0.49 and a beta of 0.55. The company has a quick ratio of 2.31, a current ratio of 3.01 and a debt-to-equity ratio of 0.15. The company has a 50-day simple moving average of $19.26 and a 200 day simple moving average of $17.71. Barrick Gold Corp has a 12-month low of $13.76 and a 12-month high of $21.13.

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 for the quarter, beating the consensus estimate of $0.27 by $0.05. The firm had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Barrick Gold had a net margin of 12.78% and a return on equity of 5.53%. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.19 EPS. Research analysts expect that Barrick Gold Corp will post 1.25 earnings per share for the current fiscal year.

Barrick Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend was Friday, August 30th. Barrick Gold’s payout ratio is presently 48.78%.

Wall Street Analyst Weigh In

GOLD has been the topic of several analyst reports. Jefferies Financial Group lifted 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 lifted their target price on shares of Barrick Gold from $23.00 to $27.00 and gave the stock an “outperformer” rating in a research report on Wednesday, July 10th. Scotiabank lifted their target price on shares of Barrick Gold from $23.00 to $25.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. Royal Bank of Canada lifted their target price 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. Finally, Argus raised shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $23.30.

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.