Means Investment CO. Inc. Increases Stock Position in Barrick Gold Corp (NYSE:GOLD)

Means Investment CO. Inc. raised its position in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 5.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,520 shares of the gold and copper producer’s stock after acquiring an additional 1,173 shares during the quarter. Means Investment CO. Inc.’s holdings in Barrick Gold were worth $428,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of GOLD. Clean Yield Group bought a new stake in shares of Barrick Gold in the first quarter worth about $25,000. Exchange Traded Concepts LLC increased its stake in shares of 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 valued at $28,000 after buying an additional 935 shares during the period. Crewe Advisors LLC raised its holdings in shares of Barrick Gold by 628.8% during the second quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer’s stock valued at $30,000 after acquiring an additional 1,572 shares in the last quarter. Jackson Grant Investment Advisers Inc. purchased a new stake in Barrick Gold in the second quarter worth $32,000. Finally, LRI Investments LLC bought a new stake in Barrick Gold in the first quarter valued at $37,000. 62.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the stock. CIBC upped their price objective on shares of Barrick Gold from $23.00 to $27.00 and gave the stock an “outperformer” rating in a report on Wednesday, July 10th. Jefferies Financial Group increased their price target on shares of Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Scotiabank lifted their price objective on Barrick Gold from $23.00 to $25.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. Argus raised Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research report on Thursday, August 29th. Finally, UBS Group raised their price objective on Barrick Gold from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $23.60.

Barrick Gold Trading Up 2.9 %

Barrick Gold stock opened at $20.92 on Friday. The business’s fifty day simple moving average is $20.05 and its two-hundred day simple moving average is $18.23. The company has a current ratio of 3.01, a quick ratio of 2.31 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $36.67 billion, a price-to-earnings ratio of 25.51, a price-to-earnings-growth ratio of 0.47 and a beta of 0.55. Barrick Gold Corp has a 12 month low of $13.76 and a 12 month high of $21.21.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its quarterly earnings data on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. The business had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.13 billion. Barrick Gold had a net margin of 12.78% and a return on equity of 5.53%. Barrick Gold’s revenue was up 11.6% compared to the same quarter last year. During the same period last year, the business earned $0.19 EPS. As a group, equities analysts predict that Barrick Gold Corp will post 1.27 earnings per share for the current fiscal year.

Barrick Gold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.91%. The ex-dividend date was Friday, August 30th. Barrick Gold’s dividend payout ratio (DPR) is currently 48.78%.

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.