Old West Investment Management LLC Buys 26,140 Shares of Barrick Gold Corp (NYSE:GOLD)

Old West Investment Management LLC grew its stake in shares of Barrick Gold Corp (NYSE:GOLDFree Report) (TSE:ABX) by 2.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,039,735 shares of the gold and copper producer’s stock after buying an additional 26,140 shares during the period. Barrick Gold accounts for approximately 9.7% of Old West Investment Management LLC’s holdings, making the stock its biggest holding. Old West Investment Management LLC owned approximately 0.06% of Barrick Gold worth $18,809,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in GOLD. Principal Securities Inc. acquired a new position in Barrick Gold during the 4th quarter worth approximately $26,000. EverSource Wealth Advisors LLC boosted its stake in shares of Barrick Gold by 175.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,794 shares of the gold and copper producer’s stock valued at $32,000 after purchasing an additional 1,143 shares during the period. Bruce G. Allen Investments LLC purchased a new position in shares of Barrick Gold in the fourth quarter valued at $35,000. Mark Sheptoff Financial Planning LLC acquired a new stake in Barrick Gold during the 4th quarter valued at $45,000. Finally, Optiver Holding B.V. purchased a new stake in shares of Barrick Gold during the fourth quarter worth about $46,000. 62.85% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GOLD has been the subject of several recent research reports. Jefferies Financial Group started coverage on shares of Barrick Gold in a research note on Thursday, February 29th. They set a “buy” rating and a $21.00 target price for the company. BMO Capital Markets lowered their target price on Barrick Gold from $27.00 to $26.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 17th. StockNews.com upgraded Barrick Gold from a “hold” rating to a “buy” rating in a research report on Wednesday, February 21st. Raymond James lowered their price target on Barrick Gold from $24.00 to $23.00 and set an “outperform” rating on the stock in a report on Thursday, February 15th. Finally, Argus reaffirmed a “hold” rating on shares of Barrick Gold in a report on Monday, February 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Barrick Gold has an average rating of “Moderate Buy” and an average target price of $21.60.

Check Out Our Latest Research Report on Barrick Gold

Barrick Gold Trading Down 6.8 %

Barrick Gold stock traded down $1.17 during midday trading on Friday, reaching $16.15. The stock had a trading volume of 36,198,510 shares, compared to its average volume of 17,433,948. The firm’s fifty day simple moving average is $17.11 and its two-hundred day simple moving average is $16.54. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.32 and a quick ratio of 2.49. Barrick Gold Corp has a twelve month low of $13.76 and a twelve month high of $18.95. The firm has a market cap of $28.35 billion, a price-to-earnings ratio of 19.70, a PEG ratio of 0.43 and a beta of 0.59.

Barrick Gold (NYSE:GOLDGet Free Report) (TSE:ABX) last issued its earnings results on Wednesday, May 1st. The gold and copper producer reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.04. Barrick Gold had a return on equity of 4.88% and a net margin of 12.58%. The company had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.74 billion. During the same quarter in the prior year, the company earned $0.14 EPS. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. Equities analysts anticipate that Barrick Gold Corp will post 1.06 EPS for the current fiscal year.

Barrick Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, May 31st will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.48%. This is a positive change from Barrick Gold’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Friday, May 31st. Barrick Gold’s dividend payout ratio (DPR) is currently 48.78%.

Barrick Gold Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Barrick Gold (NYSE:GOLD)

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