E&G Advisors LP Invests $203,000 in Barrick Gold Corp (NYSE:GOLD)

E&G Advisors LP purchased a new stake in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 10,200 shares of the gold and copper producer’s stock, valued at approximately $203,000.

Several other large investors have also recently added to or reduced their stakes in GOLD. Exchange Traded Concepts LLC lifted 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 buying an additional 935 shares during the last quarter. Clean Yield Group bought a new position in Barrick Gold in the first quarter worth about $25,000. Crewe Advisors LLC boosted its stake in Barrick Gold by 628.8% in the second quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer’s stock valued at $30,000 after acquiring an additional 1,572 shares during the period. Jackson Grant Investment Advisers Inc. bought a new position in shares of Barrick Gold during the second quarter valued at approximately $32,000. Finally, LRI Investments LLC acquired a new stake in shares of Barrick Gold during the 1st quarter worth approximately $37,000. 62.85% of the stock is currently owned by institutional investors.

Barrick Gold Price Performance

NYSE:GOLD opened at $20.92 on Friday. The company has a quick ratio of 2.31, a current ratio of 3.01 and a debt-to-equity ratio of 0.15. The business’s 50-day moving average price is $20.05 and its 200 day moving average price is $18.23. Barrick Gold Corp has a 52-week low of $13.76 and a 52-week high of $21.21. The firm has a market cap of $36.67 billion, a P/E ratio of 25.51, a PEG ratio of 0.47 and a beta of 0.55.

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

Barrick Gold Announces Dividend

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. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.91%. Barrick Gold’s dividend payout ratio (DPR) is presently 48.78%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on GOLD. Royal Bank of Canada upped their price objective on Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. CIBC lifted their price target on Barrick Gold from $23.00 to $27.00 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. Jefferies Financial Group increased their price objective on Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Friday, September 13th. 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 research report on Thursday, September 26th. Finally, UBS Group increased their price target on Barrick Gold from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target 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.