Oppenheimer & Co. Inc. Boosts Stake in Barrick Gold Corp (NYSE:GOLD)

Oppenheimer & Co. Inc. raised its holdings in Barrick Gold Corp (NYSE:GOLDFree Report) (TSE:ABX) by 5.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 185,453 shares of the gold and copper producer’s stock after acquiring an additional 10,384 shares during the period. Oppenheimer & Co. Inc.’s holdings in Barrick Gold were worth $3,355,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Boston Partners bought a new stake in shares of Barrick Gold during the 3rd quarter worth $152,000. Massachusetts Financial Services Co. MA boosted its holdings in shares of Barrick Gold by 53.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 524,618 shares of the gold and copper producer’s stock worth $7,633,000 after purchasing an additional 183,076 shares in the last quarter. NewEdge Wealth LLC bought a new position in shares of Barrick Gold during the 3rd quarter valued at about $219,000. Janney Montgomery Scott LLC raised its holdings in shares of Barrick Gold by 4.6% during the 3rd quarter. Janney Montgomery Scott LLC now owns 114,420 shares of the gold and copper producer’s stock valued at $1,665,000 after buying an additional 5,008 shares in the last quarter. Finally, Shell Asset Management Co. lifted its position in Barrick Gold by 4.0% in the 3rd quarter. Shell Asset Management Co. now owns 23,158 shares of the gold and copper producer’s stock worth $338,000 after buying an additional 900 shares during the last quarter. Institutional investors own 62.85% of the company’s stock.

Barrick Gold Stock Performance

NYSE:GOLD opened at $16.15 on Friday. The company has a quick ratio of 2.49, a current ratio of 3.32 and a debt-to-equity ratio of 0.15. The firm’s fifty day simple moving average is $17.11 and its 200 day simple moving average is $16.54. The stock has a market cap of $28.35 billion, a P/E ratio of 19.70, a price-to-earnings-growth ratio of 0.41 and a beta of 0.59. Barrick Gold Corp has a twelve month low of $13.76 and a twelve month high of $18.95.

Barrick Gold (NYSE:GOLDGet Free Report) (TSE:ABX) last released its quarterly earnings results on Wednesday, May 1st. The gold and copper producer reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.04. The company had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.74 billion. Barrick Gold had a net margin of 12.58% and a return on equity of 4.88%. Barrick Gold’s revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.14 earnings per share. As a group, research analysts predict that Barrick Gold Corp will post 1.06 EPS for the current year.

Barrick Gold Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 31st will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date of this dividend is Friday, May 31st. This is a boost from Barrick Gold’s previous quarterly dividend of $0.07. Barrick Gold’s dividend payout ratio (DPR) is presently 48.78%.

Analyst Ratings Changes

A number of brokerages have commented on GOLD. BMO Capital Markets reduced their price target on shares of Barrick Gold from $27.00 to $26.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 17th. StockNews.com upgraded shares of Barrick Gold from a “hold” rating to a “buy” rating in a research report on Wednesday, February 21st. Scotiabank cut their price target on shares of Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating for the company in a research report on Tuesday, February 20th. Raymond James decreased their price objective on Barrick Gold from $24.00 to $23.00 and set an “outperform” rating on the stock in a report on Thursday, February 15th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $18.00 target price on shares of Barrick Gold in a research note on Monday, March 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $21.60.

Read Our Latest Analysis on Barrick 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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Institutional Ownership by Quarter for Barrick Gold (NYSE:GOLD)

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