MADDEN SECURITIES Corp purchased a new stake in Barrick Gold Corp (NYSE:GOLD – Get Rating) (TSE:ABX) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 3,700 shares of the gold and copper producer’s stock, valued at approximately $64,000.
Other large investors have also recently bought and sold shares of the company. CoreCap Advisors LLC bought a new stake in Barrick Gold in the second quarter valued at $29,000. Hexagon Capital Partners LLC grew its holdings in shares of Barrick Gold by 355.1% during the third quarter. Hexagon Capital Partners LLC now owns 1,661 shares of the gold and copper producer’s stock worth $26,000 after purchasing an additional 1,296 shares during the last quarter. Fairfield Bush & CO. bought a new stake in shares of Barrick Gold during the first quarter worth $42,000. Grayhawk Investment Strategies Inc. bought a new stake in shares of Barrick Gold during the second quarter worth $39,000. Finally, Chilton Capital Management LLC bought a new stake in shares of Barrick Gold during the second quarter worth $35,000. 56.82% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on the company. Royal Bank of Canada decreased their target price on Barrick Gold from $27.00 to $20.00 and set an “outperform” rating on the stock in a report on Monday, November 21st. BNP Paribas lowered Barrick Gold from an “outperform” rating to a “neutral” rating and set a $19.00 price target on the stock. in a research note on Monday, February 13th. National Bank Financial cut their price target on Barrick Gold from C$29.00 to C$28.00 in a research note on Thursday, February 23rd. Barclays upped their price target on Barrick Gold from $23.00 to $26.00 and gave the company an “overweight” rating in a research note on Monday, January 30th. Finally, Raymond James cut their price target on Barrick Gold from $25.00 to $24.00 and set an “outperform” rating on the stock in a research note on Thursday, February 16th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Barrick Gold has an average rating of “Moderate Buy” and an average price target of $23.60.
Barrick Gold Trading Up 4.1 %
Barrick Gold (NYSE:GOLD – Get Rating) (TSE:ABX) last released its earnings results on Wednesday, February 15th. The gold and copper producer reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.01. Barrick Gold had a return on equity of 4.12% and a net margin of 3.92%. The firm had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.79 billion. During the same quarter in the prior year, the firm posted $0.35 earnings per share. The company’s quarterly revenue was down 16.2% on a year-over-year basis. On average, equities analysts expect that Barrick Gold Corp will post 0.89 earnings per share for the current year.
Barrick Gold Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 15th. Stockholders of record on Tuesday, February 28th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend was Monday, February 27th. Barrick Gold’s dividend payout ratio is currently 166.67%.
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.
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