Vanguard Group Inc. Grows Holdings in Barrick Gold Corp (NYSE:GOLD)

Vanguard Group Inc. grew its stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 0.9% during the second quarter, Holdings Channel.com reports. The fund owned 52,313,601 shares of the gold and copper producer’s stock after acquiring an additional 463,660 shares during the period. Vanguard Group Inc.’s holdings in Barrick Gold were worth $1,081,845,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the company. Veracity Capital LLC increased its stake in Barrick Gold by 1.8% during the 2nd quarter. Veracity Capital LLC now owns 34,043 shares of the gold and copper producer’s stock worth $704,000 after buying an additional 598 shares during the period. Quadrant Capital Group LLC increased its stake in Barrick Gold by 7.2% during the 2nd quarter. Quadrant Capital Group LLC now owns 9,726 shares of the gold and copper producer’s stock worth $201,000 after buying an additional 655 shares during the period. Murphy Pohlad Asset Management LLC increased its stake in Barrick Gold by 2.6% during the 2nd quarter. Murphy Pohlad Asset Management LLC now owns 27,500 shares of the gold and copper producer’s stock worth $568,000 after buying an additional 700 shares during the period. Brown Advisory Inc. grew its holdings in Barrick Gold by 4.2% during the 1st quarter. Brown Advisory Inc. now owns 19,372 shares of the gold and copper producer’s stock worth $384,000 after acquiring an additional 787 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in Barrick Gold by 2.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 32,908 shares of the gold and copper producer’s stock worth $680,000 after acquiring an additional 927 shares in the last quarter. 54.50% of the stock is currently owned by institutional investors and hedge funds.

GOLD has been the subject of several analyst reports. KeyCorp initiated coverage on shares of Barrick Gold in a report on Friday, September 24th. They set a “sector weight” rating for the company. UBS Group reiterated a “buy” rating and set a $25.00 price target on shares of Barrick Gold in a report on Tuesday, August 3rd. Raymond James lowered their price target on shares of Barrick Gold from $30.00 to $27.50 and set an “outperform” rating for the company in a report on Wednesday. National Bank Financial lowered their price target on shares of Barrick Gold from C$38.00 to C$37.00 and set an “outperform” rating for the company in a report on Monday, August 23rd. Finally, National Bankshares lowered their price target on shares of Barrick Gold from C$37.00 to C$36.00 and set an “outperform” rating for the company in a report on Friday, September 10th. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $34.27.

Shares of Barrick Gold stock opened at $19.23 on Thursday. The company has a fifty day simple moving average of $19.30 and a 200-day simple moving average of $21.09. Barrick Gold Corp has a 12-month low of $17.56 and a 12-month high of $29.60. The company has a current ratio of 4.47, a quick ratio of 3.46 and a debt-to-equity ratio of 0.16. The stock has a market cap of $34.20 billion, a price-to-earnings ratio of 13.54, a PEG ratio of 7.71 and a beta of 0.27.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its quarterly earnings results on Sunday, August 8th. The gold and copper producer reported $0.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.03. The firm had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.92 billion. Barrick Gold had a net margin of 19.86% and a return on equity of 7.40%. Barrick Gold’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.23 EPS. On average, analysts forecast that Barrick Gold Corp will post 1.25 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 15th. Investors of record on Tuesday, August 31st were paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date was Monday, August 30th. Barrick Gold’s dividend payout ratio is currently 31.30%.

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.

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Institutional Ownership by Quarter for Barrick Gold (NYSE:GOLD)

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