Allspring Global Investments Holdings LLC Has $17.44 Million Stock Position in Barrick Gold Corp (NYSE:GOLD)

Allspring Global Investments Holdings LLC boosted its holdings in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 4.8% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 876,559 shares of the gold and copper producer’s stock after buying an additional 40,500 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Barrick Gold were worth $17,435,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Barrick Gold by 1.7% during the first quarter. Vanguard Group Inc. now owns 64,761,067 shares of the gold and copper producer’s stock valued at $1,077,624,000 after buying an additional 1,089,572 shares during the period. First Eagle Investment Management LLC raised its position in Barrick Gold by 31.6% during the first quarter. First Eagle Investment Management LLC now owns 58,820,050 shares of the gold and copper producer’s stock valued at $978,766,000 after buying an additional 14,138,639 shares during the period. EdgePoint Investment Group Inc. raised its position in Barrick Gold by 3.7% during the second quarter. EdgePoint Investment Group Inc. now owns 18,837,028 shares of the gold and copper producer’s stock valued at $314,254,000 after buying an additional 666,214 shares during the period. National Bank of Canada FI raised its position in Barrick Gold by 9.0% during the first quarter. National Bank of Canada FI now owns 14,887,656 shares of the gold and copper producer’s stock valued at $251,929,000 after buying an additional 1,231,184 shares during the period. Finally, CIBC Asset Management Inc raised its position in Barrick Gold by 3.3% during the second quarter. CIBC Asset Management Inc now owns 14,546,530 shares of the gold and copper producer’s stock valued at $242,491,000 after buying an additional 461,406 shares during the period. 62.85% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Raymond James dropped 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. 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. Jefferies Financial Group upped their target price on Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. CIBC upped their target price on Barrick Gold from $23.00 to $27.00 and gave the stock an “outperformer” rating in a research report on Wednesday, July 10th. Finally, Royal Bank of Canada upped their target price on Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Two equities 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 company currently has a consensus rating of “Moderate Buy” and an average target price of $23.60.

Barrick Gold Stock Performance

Shares of NYSE GOLD opened at $20.32 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.31 and a current ratio of 3.01. The firm has a market cap of $35.62 billion, a price-to-earnings ratio of 24.78, a P/E/G ratio of 0.47 and a beta of 0.55. The business’s 50-day simple moving average is $20.16 and its 200-day simple moving average is $18.30. Barrick Gold Corp has a 52 week low of $13.76 and a 52 week high of $21.35.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its quarterly earnings data on Monday, August 12th. The gold and copper producer reported $0.32 EPS for the quarter, beating 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 business had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same quarter in the prior year, the firm posted $0.19 EPS. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. As a group, equities research analysts expect that Barrick Gold Corp will post 1.27 earnings per share for the current fiscal year.

Barrick Gold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were issued 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 1.97%. Barrick Gold’s dividend payout ratio (DPR) is presently 48.78%.

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.