LGT Group Foundation Has $738,000 Holdings in Barrick Gold Corp (NYSE:GOLD)

LGT Group Foundation lifted its position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 90.3% during the 2nd quarter, Holdings Channel reports. The firm owned 44,260 shares of the gold and copper producer’s stock after purchasing an additional 21,000 shares during the quarter. LGT Group Foundation’s holdings in Barrick Gold were worth $738,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of GOLD. 1832 Asset Management L.P. raised its stake in Barrick Gold by 19.2% in the fourth quarter. 1832 Asset Management L.P. now owns 1,051,755 shares of the gold and copper producer’s stock valued at $19,026,000 after buying an additional 169,350 shares during the period. Corient Private Wealth LLC lifted its holdings in Barrick Gold by 0.9% during the 4th quarter. Corient Private Wealth LLC now owns 123,651 shares of the gold and copper producer’s stock valued at $2,237,000 after purchasing an additional 1,066 shares during the last quarter. First Hawaiian Bank bought a new position in Barrick Gold during the first quarter worth $235,000. RFG Advisory LLC increased its holdings in shares of Barrick Gold by 87.0% in the first quarter. RFG Advisory LLC now owns 41,002 shares of the gold and copper producer’s stock valued at $682,000 after purchasing an additional 19,077 shares during the last quarter. Finally, Financial Sense Advisors Inc. raised its position in shares of Barrick Gold by 142.1% in the first quarter. Financial Sense Advisors Inc. now owns 826,507 shares of the gold and copper producer’s stock valued at $13,753,000 after purchasing an additional 485,077 shares during the period. 62.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

GOLD has been the topic of several research reports. Argus raised 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, August 29th. CIBC increased their price target 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. Scotiabank lifted their target price on 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, 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 note on Friday, July 12th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $22.80.

Barrick Gold Price Performance

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

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its 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 company had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.13 billion. Barrick Gold had a net margin of 12.78% and a return on equity of 5.55%. Barrick Gold’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.19 EPS. On average, analysts expect that Barrick Gold Corp will post 1.22 earnings per share for the current year.

Barrick Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders 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 dividend yield of 2.07%. Barrick Gold’s dividend payout ratio (DPR) is presently 48.78%.

About Barrick Gold

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.