Whitener Capital Management Inc. Increases Position in Barrick Gold Corp (NYSE:GOLD)

Whitener Capital Management Inc. increased its position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 11.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,004 shares of the gold and copper producer’s stock after purchasing an additional 6,495 shares during the period. Whitener Capital Management Inc.’s holdings in Barrick Gold were worth $1,084,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Barrick Gold by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 56,601,028 shares of the gold and copper producer’s stock worth $1,388,423,000 after acquiring an additional 1,379,254 shares in the last quarter. BlackRock Inc. boosted its position in shares of Barrick Gold by 13.9% in the 1st quarter. BlackRock Inc. now owns 42,464,736 shares of the gold and copper producer’s stock valued at $788,570,000 after purchasing an additional 5,188,456 shares during the period. Wellington Management Group LLP lifted its stake in Barrick Gold by 5.5% in the first quarter. Wellington Management Group LLP now owns 22,645,257 shares of the gold and copper producer’s stock valued at $420,218,000 after buying an additional 1,174,419 shares during the last quarter. Mackenzie Financial Corp increased its holdings in shares of Barrick Gold by 6.3% in the 4th quarter. Mackenzie Financial Corp now owns 21,129,740 shares of the gold and copper producer’s stock valued at $361,616,000 after acquiring an additional 1,254,531 shares during the period. Finally, Ameriprise Financial Inc. grew its position in Barrick Gold by 11.2% during the 1st quarter. Ameriprise Financial Inc. now owns 19,009,633 shares of the gold and copper producer’s stock worth $354,001,000 after purchasing an additional 1,912,963 shares during the last quarter. Hedge funds and other institutional investors own 58.20% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Cormark upgraded Barrick Gold from a “market perform” rating to a “buy” rating in a research report on Wednesday, August 9th. CSFB cut their price target on Barrick Gold from $22.00 to $20.00 and set an “outperform” rating for the company in a research note on Thursday, August 17th. Finally, BMO Capital Markets lifted their price objective on shares of Barrick Gold from $29.00 to $30.00 and gave the company an “outperform” rating in a research report on Wednesday, September 13th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $22.48.

Barrick Gold Price Performance

GOLD stock traded down $0.41 during trading on Tuesday, reaching $16.27. 7,077,517 shares of the company were exchanged, compared to its average volume of 15,679,456. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.14 and a current ratio of 2.71. The stock’s 50 day moving average price is $16.54 and its 200 day moving average price is $14.05. Barrick Gold Corp has a 52-week low of $13.01 and a 52-week high of $20.75. The company has a market cap of $28.56 billion, a P/E ratio of -405.50, a PEG ratio of 9.80 and a beta of 0.38.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its quarterly earnings results on Tuesday, August 8th. The gold and copper producer reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.02. The business had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $3.40 billion. Barrick Gold had a return on equity of 3.46% and a net margin of 1.06%. During the same quarter in the previous year, the company posted $0.24 EPS. As a group, analysts predict that Barrick Gold Corp will post 0.98 earnings per share for the current fiscal year.

Barrick Gold Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Thursday, August 31st were given a dividend of $0.10 per share. This is an increase from Barrick Gold’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.40 annualized dividend and a yield of 2.46%. Barrick Gold’s dividend payout ratio (DPR) is presently -1,000.00%.

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.