Old West Investment Management LLC Cuts Stake in Barrick Gold Corp (NYSE:GOLD)

Old West Investment Management LLC trimmed its holdings in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 7.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 653,649 shares of the gold and copper producer’s stock after selling 56,401 shares during the quarter. Barrick Gold comprises 4.7% of Old West Investment Management LLC’s portfolio, making the stock its 5th biggest holding. Old West Investment Management LLC’s holdings in Barrick Gold were worth $13,001,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. DCF Advisers LLC raised its holdings in Barrick Gold by 48.3% in the 2nd quarter. DCF Advisers LLC now owns 107,500 shares of the gold and copper producer’s stock worth $1,793,000 after acquiring an additional 35,000 shares during the period. Evexia Wealth LLC acquired a new position in Barrick Gold during the 3rd quarter valued at $2,382,000. 1832 Asset Management L.P. boosted its holdings in Barrick Gold by 3.6% in the 1st quarter. 1832 Asset Management L.P. now owns 1,089,855 shares of the gold and copper producer’s stock valued at $18,135,000 after purchasing an additional 38,100 shares during the period. Sanctuary Advisors LLC acquired a new stake in Barrick Gold in the 2nd quarter worth $934,000. Finally, Palliser Capital UK Ltd increased its holdings in shares of Barrick Gold by 54.1% during the 3rd quarter. Palliser Capital UK Ltd now owns 346,363 shares of the gold and copper producer’s stock worth $6,889,000 after purchasing an additional 121,663 shares during the period. 62.85% of the stock is currently owned by institutional investors.

Barrick Gold Trading Down 5.6 %

NYSE:GOLD opened at $17.83 on Wednesday. The company has a market cap of $31.17 billion, a P/E ratio of 21.94, a price-to-earnings-growth ratio of 0.45 and a beta of 0.56. Barrick Gold Corp has a twelve month low of $13.76 and a twelve month high of $21.35. The business has a 50 day moving average price of $20.05 and a two-hundred day moving average price of $18.45. 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 released its earnings results on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. Barrick Gold had a net margin of 12.78% and a return on equity of 5.53%. The business had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter last year, the firm earned $0.19 earnings per share. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, analysts expect that Barrick Gold Corp will post 1.29 EPS for the current fiscal year.

Barrick Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend was Friday, August 30th. Barrick Gold’s dividend payout ratio (DPR) is presently 46.51%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Royal Bank of Canada lifted 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. Raymond James lowered their target price on shares of Barrick Gold from $26.50 to $26.00 and set an “outperform” rating on the stock in a research note on Thursday, September 26th. Jefferies Financial Group raised their price target on shares of Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. UBS Group lowered shares of Barrick Gold from a “buy” rating to a “neutral” rating and reduced their price target for the company from $23.00 to $22.00 in a research report on Wednesday, October 30th. Finally, Scotiabank lifted their target price on shares of Barrick Gold from $23.00 to $25.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $23.50.

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.