Rothschild Investment LLC Buys New Stake in Barrick Gold Corp (NYSE:GOLD)

Rothschild Investment LLC purchased a new position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 14,350 shares of the gold and copper producer’s stock, valued at approximately $239,000.

A number of other institutional investors also recently made changes to their positions in GOLD. Wellington Management Group LLP increased its position in Barrick Gold by 58.4% during the 4th quarter. Wellington Management Group LLP now owns 100,680,644 shares of the gold and copper producer’s stock worth $1,821,963,000 after purchasing an additional 37,128,653 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Barrick Gold by 1.7% in the first quarter. Vanguard Group Inc. now owns 64,761,067 shares of the gold and copper producer’s stock valued at $1,077,624,000 after buying an additional 1,089,572 shares during the last quarter. First Eagle Investment Management LLC lifted its stake in shares of Barrick Gold by 31.6% during the first quarter. First Eagle Investment Management LLC now owns 58,820,050 shares of the gold and copper producer’s stock valued at $978,766,000 after buying an additional 14,138,639 shares during the period. Capital World Investors boosted its position in Barrick Gold by 16.4% during the fourth quarter. Capital World Investors now owns 45,479,229 shares of the gold and copper producer’s stock worth $821,790,000 after acquiring an additional 6,417,244 shares during the last quarter. Finally, Capital International Investors grew its stake in Barrick Gold by 4.7% in the 4th quarter. Capital International Investors now owns 18,242,364 shares of the gold and copper producer’s stock worth $330,004,000 after acquiring an additional 823,330 shares during the period. 62.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on GOLD shares. Scotiabank increased their price target on Barrick Gold from $23.00 to $25.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. Jefferies Financial Group raised their price target on Barrick Gold from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. Argus upgraded Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a report on Thursday, August 29th. Finally, CIBC increased 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. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $22.80.

Barrick Gold Stock Down 0.6 %

Shares of Barrick Gold stock opened at $20.19 on Tuesday. The company has a fifty day moving average price of $18.44 and a 200 day moving average price of $17.15. The company has a current ratio of 3.32, a quick ratio of 2.49 and a debt-to-equity ratio of 0.15. Barrick Gold Corp has a twelve month low of $13.76 and a twelve month high of $20.89. The stock has a market cap of $35.39 billion, a price-to-earnings ratio of 24.62, a price-to-earnings-growth ratio of 0.51 and a beta of 0.51.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its earnings results on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.05. The company had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.13 billion. Barrick Gold had a return on equity of 5.55% and a net margin of 12.78%. The company’s revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.19 earnings per share. Equities research analysts forecast that Barrick Gold Corp will post 1.21 earnings per share for the current fiscal year.

Barrick Gold Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be paid a $0.10 dividend. The ex-dividend date is Friday, August 30th. This represents a $0.40 annualized dividend and a dividend yield of 1.98%. Barrick Gold’s dividend payout ratio (DPR) is presently 48.78%.

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.