Inspire Advisors LLC Invests $541,000 in Barrick Gold Corp (NYSE:GOLD)

Inspire Advisors LLC acquired a new position in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 27,211 shares of the gold and copper producer’s stock, valued at approximately $541,000.

Other hedge funds have also recently made changes to their positions in the company. Exchange Traded Concepts LLC raised its position in shares of Barrick Gold by 198.1% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,407 shares of the gold and copper producer’s stock worth $28,000 after acquiring an additional 935 shares in the last quarter. Clean Yield Group bought a new stake in Barrick Gold in the 1st quarter valued at about $25,000. Crewe Advisors LLC increased its position in Barrick Gold by 628.8% in the 2nd quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer’s stock valued at $30,000 after buying an additional 1,572 shares in the last quarter. Jackson Grant Investment Advisers Inc. bought a new stake in Barrick Gold in the 2nd quarter valued at about $32,000. Finally, LRI Investments LLC bought a new stake in Barrick Gold in the 1st quarter valued at about $37,000. 62.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on GOLD shares. Jefferies Financial Group boosted their target price on Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Scotiabank boosted 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. Royal Bank of Canada boosted their target price on Barrick Gold from $21.00 to $22.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. Argus raised Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research report on Thursday, August 29th. Finally, UBS Group boosted their price objective on Barrick Gold from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Tuesday. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Barrick Gold has an average rating of “Moderate Buy” and a consensus price target of $23.60.

Barrick Gold Price Performance

Shares of NYSE GOLD opened at $20.92 on Friday. Barrick Gold Corp has a twelve month low of $13.76 and a twelve month high of $21.21. The stock’s 50 day moving average price is $20.05 and its 200-day moving average price is $18.22. The company has a market capitalization of $36.67 billion, a PE ratio of 25.51, a PEG ratio of 0.47 and a beta of 0.55. 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 announced its earnings results 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. Barrick Gold had a return on equity of 5.53% and a net margin of 12.78%. The firm had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the previous year, the business earned $0.19 EPS. The company’s revenue was up 11.6% compared to the same quarter last year. On average, equities analysts anticipate that Barrick Gold Corp will post 1.27 EPS for the current year.

Barrick Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were paid a $0.10 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.91%. Barrick Gold’s payout ratio 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.