Asahi Life Asset Management CO. LTD. Takes Position in Barrick Gold Corp (NYSE:GOLD)

Asahi Life Asset Management CO. LTD. purchased a new position in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) in the third quarter, HoldingsChannel reports. The fund purchased 16,810 shares of the gold and copper producer’s stock, valued at approximately $335,000.

Other large investors have also bought and sold shares of the company. Leuthold Group LLC purchased a new position in shares of Barrick Gold in the 3rd quarter valued at approximately $3,439,000. Klein Pavlis & Peasley Financial Inc. raised its holdings in Barrick Gold by 2.5% in the third quarter. Klein Pavlis & Peasley Financial Inc. now owns 58,181 shares of the gold and copper producer’s stock worth $1,157,000 after purchasing an additional 1,414 shares in the last quarter. Pullen Investment Management LLC lifted its position in Barrick Gold by 1.5% during the third quarter. Pullen Investment Management LLC now owns 92,964 shares of the gold and copper producer’s stock valued at $1,849,000 after buying an additional 1,396 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in shares of Barrick Gold by 0.5% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 147,903 shares of the gold and copper producer’s stock valued at $2,953,000 after buying an additional 732 shares in the last quarter. Finally, Forsta AP Fonden grew its position in shares of Barrick Gold by 7.9% in the 3rd quarter. Forsta AP Fonden now owns 350,944 shares of the gold and copper producer’s stock worth $6,988,000 after buying an additional 25,600 shares during the period. 62.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Raymond James dropped their price objective on shares of Barrick Gold from $26.50 to $26.00 and set an “outperform” rating on the stock in a research note on Thursday, September 26th. Argus raised Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Thursday, August 29th. Jefferies Financial Group raised their price objective on Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Royal Bank of Canada boosted their target price on Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Finally, Scotiabank increased their target price on Barrick Gold from $23.00 to $25.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $23.60.

Barrick Gold Trading Up 1.9 %

Barrick Gold stock opened at $19.99 on Tuesday. Barrick Gold Corp has a one year low of $13.76 and a one year high of $21.35. The business’s fifty day moving average is $20.18 and its 200 day moving average is $18.35. The stock has a market capitalization of $35.04 billion, a PE ratio of 24.38, a price-to-earnings-growth ratio of 0.47 and a beta of 0.55. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.01 and a quick ratio of 2.31.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced 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. Barrick Gold had a net margin of 12.78% and a return on equity of 5.53%. The firm had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter last year, the firm posted $0.19 EPS. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. On average, sell-side analysts predict that Barrick Gold Corp will post 1.27 EPS for the current year.

Barrick Gold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were paid a dividend of $0.10 per share. The ex-dividend date was Friday, August 30th. This represents a $0.40 dividend on an annualized basis and a yield of 2.00%. Barrick Gold’s dividend payout ratio is presently 48.78%.

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.