Mitsubishi UFJ Asset Management UK Ltd. Boosts Stake in Barrick Gold Corp (NYSE:GOLD)

Mitsubishi UFJ Asset Management UK Ltd. increased its holdings in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 200.0% during the third quarter, HoldingsChannel reports. The firm owned 30,000 shares of the gold and copper producer’s stock after buying an additional 20,000 shares during the period. Mitsubishi UFJ Asset Management UK Ltd.’s holdings in Barrick Gold were worth $597,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Ritholtz Wealth Management raised its position in Barrick Gold by 2.8% in the 3rd quarter. Ritholtz Wealth Management now owns 18,163 shares of the gold and copper producer’s stock worth $361,000 after buying an additional 502 shares during the last quarter. Silverlake Wealth Management LLC raised its holdings in shares of Barrick Gold by 1.3% during the third quarter. Silverlake Wealth Management LLC now owns 49,890 shares of the gold and copper producer’s stock valued at $992,000 after purchasing an additional 628 shares during the last quarter. Edge Wealth Management LLC lifted its position in Barrick Gold by 6.3% during the first quarter. Edge Wealth Management LLC now owns 12,255 shares of the gold and copper producer’s stock valued at $204,000 after purchasing an additional 725 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in Barrick Gold by 1.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 38,999 shares of the gold and copper producer’s stock worth $650,000 after purchasing an additional 731 shares during the last quarter. Finally, Greenleaf Trust grew its position in Barrick Gold by 3.5% in the 1st quarter. Greenleaf Trust now owns 25,119 shares of the gold and copper producer’s stock worth $418,000 after purchasing an additional 838 shares during the period. 62.85% of the stock is owned by hedge funds and other institutional investors.

Barrick Gold Price Performance

NYSE:GOLD traded up $0.58 during trading hours on Friday, hitting $20.92. 22,610,902 shares of the stock traded hands, compared to its average volume of 21,058,141. The company has a market cap of $36.67 billion, a price-to-earnings ratio of 25.51, a price-to-earnings-growth ratio of 0.47 and a beta of 0.55. Barrick Gold Corp has a 1 year low of $13.76 and a 1 year high of $21.21. The stock has a 50 day moving average price of $20.05 and a 200 day moving average price of $18.22. The company has a quick ratio of 2.31, a current ratio of 3.01 and a debt-to-equity ratio of 0.15.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its quarterly earnings data on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. The firm had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.13 billion. Barrick Gold had a return on equity of 5.53% and a net margin of 12.78%. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.19 earnings per share. Sell-side analysts forecast that Barrick Gold Corp will post 1.27 EPS for the current fiscal year.

Barrick Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.91%. The ex-dividend date was Friday, August 30th. Barrick Gold’s payout ratio is currently 48.78%.

Analyst Upgrades and Downgrades

GOLD has been the topic of several research analyst reports. Argus raised Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a report on Thursday, August 29th. Raymond James lowered their target price on Barrick Gold from $26.50 to $26.00 and set an “outperform” rating on the stock in a report on Thursday, September 26th. CIBC boosted their price target on Barrick Gold from $23.00 to $27.00 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. Royal Bank of Canada upped their price target on shares of Barrick Gold from $21.00 to $22.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. Finally, Scotiabank raised their price objective on shares of Barrick Gold from $23.00 to $25.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Barrick Gold presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.60.

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.