LGT Fund Management Co Ltd. Buys 194,500 Shares of Barrick Gold Corp (NYSE:GOLD)

LGT Fund Management Co Ltd. grew its stake in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 317.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 255,700 shares of the gold and copper producer’s stock after purchasing an additional 194,500 shares during the period. LGT Fund Management Co Ltd.’s holdings in Barrick Gold were worth $4,265,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Principal Securities Inc. bought a new position in shares of Barrick Gold in the fourth quarter valued at $26,000. Clean Yield Group bought a new stake in Barrick Gold during the 1st quarter worth approximately $25,000. EverSource Wealth Advisors LLC raised its stake in shares of Barrick Gold by 175.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,794 shares of the gold and copper producer’s stock worth $32,000 after purchasing an additional 1,143 shares during the last quarter. Crewe Advisors LLC lifted its holdings in shares of Barrick Gold by 628.8% in the second quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer’s stock valued at $30,000 after purchasing an additional 1,572 shares in the last quarter. Finally, Jackson Grant Investment Advisers Inc. bought a new position in shares of Barrick Gold in the second quarter valued at approximately $32,000. Institutional investors own 62.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on GOLD shares. Jefferies Financial Group increased their price target on Barrick Gold from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, July 12th. Argus upgraded shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a report on Thursday, August 29th. Scotiabank raised their price target on shares of Barrick Gold from $23.00 to $25.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. Finally, CIBC upped their price objective on shares of Barrick Gold from $23.00 to $27.00 and gave the stock an “outperformer” rating in a research report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $22.80.

Barrick Gold Stock Performance

Shares of GOLD stock opened at $19.28 on Tuesday. The stock has a market capitalization of $33.79 billion, a P/E ratio of 23.51, a PEG ratio of 0.47 and a beta of 0.55. The company has a current ratio of 3.32, a quick ratio of 2.49 and a debt-to-equity ratio of 0.15. The firm’s 50 day moving average is $18.71 and its 200 day moving average is $17.31. Barrick Gold Corp has a 12 month low of $13.76 and a 12 month high of $20.89.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its quarterly earnings results on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. The firm 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 for the quarter was up 11.6% on a year-over-year basis. During the same quarter last year, the company posted $0.19 EPS. On average, sell-side analysts anticipate that Barrick Gold Corp will post 1.22 earnings per share for the current year.

Barrick Gold Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be given a dividend of $0.10 per share. The ex-dividend date is Friday, August 30th. This represents a $0.40 dividend on an annualized basis and a yield of 2.07%. Barrick Gold’s payout ratio is 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.