Lafayette Investments Inc. Buys 5,105 Shares of Barrick Gold Corp (NYSE:GOLD)

Lafayette Investments Inc. boosted its stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 1.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 329,054 shares of the gold and copper producer’s stock after purchasing an additional 5,105 shares during the quarter. Barrick Gold makes up 1.5% of Lafayette Investments Inc.’s investment portfolio, making the stock its 23rd largest position. Lafayette Investments Inc.’s holdings in Barrick Gold were worth $5,953,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Fairfield Bush & CO. purchased a new stake in shares of Barrick Gold in the 1st quarter valued at about $42,000. Acadian Asset Management LLC purchased a new stake in shares of Barrick Gold in the 1st quarter valued at about $647,000. Blair William & Co. IL raised its holdings in shares of Barrick Gold by 288.8% in the 1st quarter. Blair William & Co. IL now owns 90,896 shares of the gold and copper producer’s stock valued at $2,230,000 after acquiring an additional 67,516 shares in the last quarter. Sei Investments Co. raised its holdings in shares of Barrick Gold by 97.2% in the 1st quarter. Sei Investments Co. now owns 230,278 shares of the gold and copper producer’s stock valued at $5,651,000 after acquiring an additional 113,486 shares in the last quarter. Finally, Allianz Asset Management GmbH raised its holdings in shares of Barrick Gold by 17.7% in the 1st quarter. Allianz Asset Management GmbH now owns 1,007,571 shares of the gold and copper producer’s stock valued at $24,620,000 after acquiring an additional 151,763 shares in the last quarter. Institutional investors own 62.85% of the company’s stock.

Barrick Gold Trading Up 1.4 %

Shares of GOLD stock traded up $0.24 during trading hours on Friday, reaching $17.22. The company’s stock had a trading volume of 5,133,521 shares, compared to its average volume of 22,437,580. The stock has a market capitalization of $30.23 billion, a P/E ratio of 23.58, a P/E/G ratio of 1.54 and a beta of 0.58. Barrick Gold Corp has a one year low of $13.76 and a one year high of $20.75. The firm’s fifty day simple moving average is $15.86 and its 200 day simple moving average is $16.21. The company has a current ratio of 3.16, a quick ratio of 2.40 and a debt-to-equity ratio of 0.15.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its quarterly earnings data on Wednesday, February 14th. The gold and copper producer reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.06. Barrick Gold had a return on equity of 4.64% and a net margin of 11.16%. The firm had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same period last year, the company earned $0.13 EPS. Equities research analysts expect that Barrick Gold Corp will post 0.9 EPS for the current year.

Barrick Gold Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were given a dividend of $0.074 per share. The ex-dividend date was Wednesday, February 28th. This represents a $0.30 annualized dividend and a dividend yield of 1.72%. Barrick Gold’s dividend payout ratio is presently 55.56%.

Analyst Ratings Changes

A number of brokerages recently weighed in on GOLD. Sanford C. Bernstein cut Barrick Gold from an “outperform” rating to a “market perform” rating in a report on Monday, January 8th. National Bank Financial reissued a “sector perform overweight” rating on shares of Barrick Gold in a report on Monday, April 8th. StockNews.com raised Barrick Gold from a “hold” rating to a “buy” rating in a report on Wednesday, February 21st. BMO Capital Markets decreased their price objective on Barrick Gold from $27.00 to $26.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, CIBC decreased their price objective on Barrick Gold from $27.00 to $23.00 and set an “outperform” rating on the stock in a report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $21.48.

About Barrick Gold

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.