K.J. Harrison & Partners Inc Takes $236,000 Position in Barrick Gold Corp (NYSE:GOLD)

K.J. Harrison & Partners Inc acquired a new position in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) in the 4th quarter, HoldingsChannel reports. The fund acquired 13,045 shares of the gold and copper producer’s stock, valued at approximately $236,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bruce G. Allen Investments LLC purchased a new position in shares of Barrick Gold in the fourth quarter worth about $35,000. E Fund Management Hong Kong Co. Ltd. bought a new position in Barrick Gold in the fourth quarter valued at $61,000. Cary Street Partners Investment Advisory LLC raised its stake in shares of Barrick Gold by 41.1% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 3,919 shares of the gold and copper producer’s stock worth $57,000 after acquiring an additional 1,142 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Barrick Gold in the 3rd quarter valued at about $75,000. Finally, Fifth Third Bancorp boosted its position in Barrick Gold by 13.1% during the 3rd quarter. Fifth Third Bancorp now owns 6,067 shares of the gold and copper producer’s stock valued at $88,000 after buying an additional 702 shares during the period. 62.85% of the stock is currently owned by institutional investors.

Barrick Gold Price Performance

Shares of NYSE:GOLD traded up $0.01 on Friday, reaching $17.09. The company’s stock had a trading volume of 19,814,196 shares, compared to its average volume of 29,788,420. The company has a 50-day simple moving average of $16.14 and a 200 day simple moving average of $16.31. Barrick Gold Corp has a 52-week low of $13.76 and a 52-week high of $20.75. The company has a market cap of $30.00 billion, a P/E ratio of 23.72, a PEG ratio of 1.50 and a beta of 0.58. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.40 and a current ratio of 3.16.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its quarterly earnings results on Wednesday, February 14th. The gold and copper producer reported $0.27 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $3.13 billion. During the same period in the prior year, the business posted $0.13 earnings per share. As a group, equities research analysts anticipate that Barrick Gold Corp will post 0.95 EPS for the current fiscal year.

Barrick Gold Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were given a dividend of $0.074 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend was Wednesday, February 28th. Barrick Gold’s dividend payout ratio (DPR) is presently 55.56%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. National Bank Financial reissued a “sector perform overweight” rating on shares of Barrick Gold in a research note on Monday, April 8th. Sanford C. Bernstein lowered Barrick Gold from an “outperform” rating to a “market perform” rating in a research report on Monday, January 8th. Jefferies Financial Group started coverage on shares of Barrick Gold in a research note on Thursday, February 29th. They issued a “buy” rating and a $21.00 price target for the company. Scotiabank dropped their target price on Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating on the stock in a report on Tuesday, February 20th. Finally, Raymond James reduced their price objective on Barrick Gold from $24.00 to $23.00 and set an “outperform” rating for the company in a report on Thursday, February 15th. One analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.06.

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.