Zurcher Kantonalbank Zurich Cantonalbank Purchases 23,883 Shares of Barrick Gold Corp (NYSE:GOLD)

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 4.9% in the second quarter, according to its most recent filing with the SEC. The firm owned 509,140 shares of the gold and copper producer’s stock after acquiring an additional 23,883 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Barrick Gold were worth $8,491,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of GOLD. Wellington Management Group LLP grew its stake in Barrick Gold by 58.4% in the 4th quarter. Wellington Management Group LLP now owns 100,680,644 shares of the gold and copper producer’s stock valued at $1,821,963,000 after buying an additional 37,128,653 shares during the last quarter. Vanguard Group Inc. grew its holdings in Barrick Gold by 1.7% in the first quarter. Vanguard Group Inc. now owns 64,761,067 shares of the gold and copper producer’s stock worth $1,077,624,000 after purchasing an additional 1,089,572 shares during the period. First Eagle Investment Management LLC grew its holdings in Barrick Gold by 31.6% in the first quarter. First Eagle Investment Management LLC now owns 58,820,050 shares of the gold and copper producer’s stock worth $978,766,000 after purchasing an additional 14,138,639 shares during the period. Capital World Investors lifted its stake in shares of Barrick Gold by 16.4% in the fourth quarter. Capital World Investors now owns 45,479,229 shares of the gold and copper producer’s stock valued at $821,790,000 after buying an additional 6,417,244 shares in the last quarter. Finally, Capital International Investors lifted its position in shares of Barrick Gold by 4.7% during the fourth quarter. Capital International Investors now owns 18,242,364 shares of the gold and copper producer’s stock valued at $330,004,000 after purchasing an additional 823,330 shares in the last quarter. Institutional investors and hedge funds own 62.85% of the company’s stock.

Wall Street Analyst Weigh In

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

Barrick Gold Stock Performance

Shares of Barrick Gold stock traded down $0.28 on Friday, reaching $20.04. 6,125,174 shares of the company were exchanged, compared to its average volume of 21,616,793. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.49 and a current ratio of 3.32. The company’s 50-day moving average is $18.23 and its two-hundred day moving average is $17.01. The firm has a market cap of $35.12 billion, a price-to-earnings ratio of 24.56, a P/E/G ratio of 0.48 and a beta of 0.51. Barrick Gold Corp has a 1-year low of $13.76 and a 1-year 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 the consensus estimate of $0.27 by $0.05. The company had revenue of $3.16 billion for the quarter, compared to analysts’ expectations of $3.13 billion. Barrick Gold had a return on equity of 4.88% and a net margin of 12.58%. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period last year, the firm earned $0.19 EPS. As a group, research analysts expect that Barrick Gold Corp will post 1.16 earnings per share for the current fiscal year.

Barrick Gold Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.40 annualized dividend and a yield of 2.00%. Barrick Gold’s dividend payout ratio (DPR) is currently 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.