Evexia Wealth LLC Buys Shares of 119,805 Barrick Gold Corp (NYSE:GOLD)

by · The Markets Daily

Evexia Wealth LLC acquired a new stake in shares of Barrick Gold Corp (NYSE:GOLD – Free Report) (TSE:ABX) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 119,805 shares of the gold and copper producer’s stock, valued at approximately $2,382,000.

Other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP raised its stake in Barrick Gold by 58.4% in the fourth quarter. Wellington Management Group LLP now owns 100,680,644 shares of the gold and copper producer’s stock valued at $1,821,963,000 after buying an additional 37,128,653 shares during the last quarter. Wahed Invest LLC increased its holdings in shares of Barrick Gold by 10.4% during the fourth quarter. Wahed Invest LLC now owns 13,790 shares of the gold and copper producer’s stock valued at $250,000 after acquiring an additional 1,300 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Barrick Gold by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 63,671,495 shares of the gold and copper producer’s stock valued at $1,151,817,000 after purchasing an additional 1,103,710 shares during the last quarter. HighPoint Advisor Group LLC purchased a new stake in Barrick Gold during the 4th quarter worth approximately $519,000. Finally, Confluence Investment Management LLC acquired a new position in Barrick Gold during the 1st quarter valued at approximately $418,000. Institutional investors and hedge funds own 62.85% of the company’s stock.

Barrick Gold Price Performance

Shares of GOLD traded down $0.08 during mid-day trading on Friday, hitting $19.99. 15,201,984 shares of the company were exchanged, compared to its average volume of 21,173,951. Barrick Gold Corp has a 1-year low of $13.76 and a 1-year high of $21.21. The company has a 50 day moving average of $19.74 and a 200-day moving average of $18.09. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.31 and a current ratio of 3.01. The stock has a market cap of $35.04 billion, a price-to-earnings ratio of 24.37, a price-to-earnings-growth ratio of 0.47 and a beta of 0.55.

Barrick Gold (NYSE:GOLD – Get Free Report) (TSE:ABX) last posted its quarterly earnings results on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. Barrick Gold had a net margin of 12.78% and a return on equity of 5.53%. The firm had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same period in the previous year, the business posted $0.19 earnings per share. Barrick Gold’s quarterly revenue was up 11.6% on a year-over-year basis. Analysts expect that Barrick Gold Corp will post 1.27 EPS for the current fiscal year.

Barrick Gold Dividend Announcement

The business also recently disclosed 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. The ex-dividend date was Friday, August 30th. This represents a $0.40 dividend on an annualized basis and a yield of 2.00%. Barrick Gold’s payout ratio is 48.78%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Scotiabank upped their target price 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. Jefferies Financial Group lifted their target price on Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Friday, September 13th. CIBC increased their price target 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. Argus raised shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a report on Thursday, August 29th. Finally, Royal Bank of Canada boosted their price objective on Barrick Gold from $21.00 to $22.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $23.67.

Get Our Latest Stock Analysis on GOLD

About Barrick Gold

(Free Report)

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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