LGT Group Foundation Has $475,000 Holdings in Barrick Gold Corp (NYSE:GOLD)

LGT Group Foundation lessened its stake in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 3.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,284 shares of the gold and copper producer’s stock after selling 1,068 shares during the quarter. LGT Group Foundation’s holdings in Barrick Gold were worth $475,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Stratos Wealth Partners LTD. grew its stake in shares of Barrick Gold by 5.3% during the third quarter. Stratos Wealth Partners LTD. now owns 13,714 shares of the gold and copper producer’s stock worth $200,000 after purchasing an additional 689 shares during the period. Stratos Wealth Advisors LLC acquired a new position in shares of Barrick Gold in the third quarter valued at approximately $204,000. Mn Services Vermogensbeheer B.V. grew its position in Barrick Gold by 7.0% during the third quarter. Mn Services Vermogensbeheer B.V. now owns 369,600 shares of the gold and copper producer’s stock worth $5,394,000 after buying an additional 24,200 shares in the last quarter. Keating Investment Counselors Inc. boosted its holdings in shares of Barrick Gold by 8.0% in the 3rd quarter. Keating Investment Counselors Inc. now owns 746,272 shares of the gold and copper producer’s stock valued at $10,858,000 after purchasing an additional 55,245 shares in the last quarter. Finally, Jeppson Wealth Management LLC lifted its stake in shares of Barrick Gold by 9.6% in the 3rd quarter. Jeppson Wealth Management LLC now owns 18,451 shares of the gold and copper producer’s stock valued at $268,000 after acquiring an additional 1,615 shares during the last quarter. Institutional investors own 62.85% of the company’s stock.

Analyst Ratings Changes

GOLD has been the subject of several research analyst reports. Sanford C. Bernstein lowered Barrick Gold from an “outperform” rating to a “market perform” rating in a research report on Monday, January 8th. Raymond James lowered their price target on shares of Barrick Gold from $24.00 to $23.00 and set an “outperform” rating on the stock in a report on Thursday, February 15th. Jefferies Financial Group initiated coverage on shares of Barrick Gold in a research report on Thursday, February 29th. They set a “buy” rating and a $21.00 price target for the company. Scotiabank reduced 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. Finally, CIBC cut their target price on shares of Barrick Gold from $27.00 to $23.00 and set an “outperform” rating for the company in a research report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Barrick Gold currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.06.

Barrick Gold Trading Down 0.5 %

NYSE:GOLD opened at $16.46 on Friday. Barrick Gold Corp has a 52 week low of $13.76 and a 52 week high of $20.75. The firm has a 50 day moving average of $16.31 and a 200 day moving average of $16.35. The company has a quick ratio of 2.40, a current ratio of 3.16 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $28.90 billion, a price-to-earnings ratio of 20.07, a PEG ratio of 1.45 and a beta of 0.59.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its earnings results on Wednesday, May 1st. The gold and copper producer reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.04. Barrick Gold had a net margin of 12.58% and a return on equity of 4.89%. The company had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.74 billion. During the same quarter in the prior year, the company posted $0.14 earnings per share. Barrick Gold’s revenue for the quarter was up 3.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Barrick Gold Corp will post 0.95 earnings per share for the current fiscal year.

Barrick Gold Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be issued a $0.10 dividend. The ex-dividend date is Friday, May 31st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.43%. This is a boost from Barrick Gold’s previous quarterly dividend of $0.07. Barrick Gold’s dividend payout ratio (DPR) is currently 48.78%.

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.