Natixis lifted its stake in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 1,904.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,101,635 shares of the gold and copper producer’s stock after acquiring an additional 1,996,785 shares during the quarter. Natixis owned approximately 0.12% of Barrick Gold worth $43,462,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Logan Capital Management Inc. purchased a new stake in shares of Barrick Gold in the first quarter worth about $25,000. RMR Wealth Builders bought a new position in shares of Barrick Gold during the 1st quarter valued at approximately $32,000. Rockbridge Investment Management LCC purchased a new position in shares of Barrick Gold in the first quarter valued at $33,000. BerganKDV Wealth Management LLC raised its stake in Barrick Gold by 1,025.3% during the second quarter. BerganKDV Wealth Management LLC now owns 1,823 shares of the gold and copper producer’s stock valued at $38,000 after purchasing an additional 1,661 shares in the last quarter. Finally, Stonebridge Capital Advisors LLC purchased a new position in shares of Barrick Gold in the 1st quarter worth $38,000. 54.50% of the stock is owned by institutional investors.
Several research firms recently commented on GOLD. KeyCorp initiated coverage on Barrick Gold in a research report on Friday, September 24th. They issued a “sector weight” rating for the company. TD Securities dropped their target price on Barrick Gold from $29.00 to $27.00 and set an “action list buy” rating for the company in a report on Tuesday, August 10th. Raymond James lowered their price target on Barrick Gold from $30.00 to $27.50 and set an “outperform” rating for the company in a research report on Wednesday. National Bankshares cut their price target on shares of Barrick Gold from C$37.00 to C$36.00 and set an “outperform” rating on the stock in a report on Friday, September 10th. Finally, UBS Group restated a “buy” rating and set a $25.00 target price on shares of Barrick Gold in a research report on Tuesday, August 3rd. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Barrick Gold currently has a consensus rating of “Buy” and an average price target of $34.27.
Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its earnings results on Sunday, August 8th. The gold and copper producer reported $0.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.03. Barrick Gold had a net margin of 19.86% and a return on equity of 7.40%. The firm had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.92 billion. During the same period in the previous year, the company earned $0.23 EPS. Barrick Gold’s revenue for the quarter was down 5.3% on a year-over-year basis. As a group, sell-side analysts forecast that Barrick Gold Corp will post 1.25 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 15th. Investors of record on Tuesday, August 31st were paid a $0.09 dividend. The ex-dividend date was Monday, August 30th. This represents a $0.36 annualized dividend and a yield of 1.85%. Barrick Gold’s payout ratio is currently 31.30%.
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.
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