ANTIPODES PARTNERS Ltd Acquires 3,495,492 Shares of Barrick Gold Corp (NYSE:GOLD)

ANTIPODES PARTNERS Ltd raised its position in shares of Barrick Gold Corp (NYSE:GOLDGet Rating) (TSE:ABX) by 570.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,108,433 shares of the gold and copper producer’s stock after purchasing an additional 3,495,492 shares during the quarter. Barrick Gold accounts for about 3.6% of ANTIPODES PARTNERS Ltd’s investment portfolio, making the stock its 15th largest position. ANTIPODES PARTNERS Ltd owned approximately 0.23% of Barrick Gold worth $100,779,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Van ECK Associates Corp lifted its holdings in Barrick Gold by 6.1% during the fourth quarter. Van ECK Associates Corp now owns 88,939,006 shares of the gold and copper producer’s stock valued at $1,689,852,000 after purchasing an additional 5,107,044 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Barrick Gold by 2.8% in the fourth quarter. Mackenzie Financial Corp now owns 16,628,115 shares of the gold and copper producer’s stock worth $316,156,000 after buying an additional 449,136 shares in the last quarter. Capital International Investors lifted its holdings in shares of Barrick Gold by 0.4% in the fourth quarter. Capital International Investors now owns 16,321,923 shares of the gold and copper producer’s stock worth $310,117,000 after buying an additional 63,070 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Barrick Gold by 8.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,698,422 shares of the gold and copper producer’s stock worth $146,259,000 after buying an additional 621,927 shares in the last quarter. Finally, Capital Research Global Investors lifted its holdings in shares of Barrick Gold by 76.6% in the fourth quarter. Capital Research Global Investors now owns 7,498,258 shares of the gold and copper producer’s stock worth $142,561,000 after buying an additional 3,251,217 shares in the last quarter. 57.62% of the stock is currently owned by institutional investors and hedge funds.

GOLD stock opened at $18.06 on Friday. The company has a quick ratio of 3.12, a current ratio of 3.95 and a debt-to-equity ratio of 0.16. Barrick Gold Corp has a twelve month low of $17.27 and a twelve month high of $26.07. The stock has a market capitalization of $32.07 billion, a price-to-earnings ratio of 15.84, a price-to-earnings-growth ratio of 10.52 and a beta of 0.25. The firm’s fifty day simple moving average is $20.58 and its two-hundred day simple moving average is $21.31.

Barrick Gold (NYSE:GOLDGet Rating) (TSE:ABX) last posted its quarterly earnings data on Wednesday, May 4th. The gold and copper producer reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. Barrick Gold had a net margin of 16.87% and a return on equity of 6.42%. The business had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.75 billion. During the same quarter in the previous year, the business posted $0.29 earnings per share. The business’s revenue was down 3.5% compared to the same quarter last year. As a group, equities research analysts expect that Barrick Gold Corp will post 1.15 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 15th. Shareholders of record on Friday, May 27th were given a dividend of $0.20 per share. This is a boost from Barrick Gold’s previous quarterly dividend of $0.08. The ex-dividend date was Thursday, May 26th. This represents a $0.80 dividend on an annualized basis and a yield of 4.43%. Barrick Gold’s payout ratio is 35.09%.

Several equities analysts have recently commented on GOLD shares. Jefferies Financial Group boosted their target price on shares of Barrick Gold from $23.00 to $24.00 and gave the stock a “hold” rating in a report on Wednesday, March 9th. Sanford C. Bernstein downgraded shares of Barrick Gold from an “outperform” rating to a “market perform” rating in a report on Monday, April 25th. TD Securities lowered their target price on shares of Barrick Gold from $31.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, May 5th. National Bank Financial boosted their target price on shares of Barrick Gold from C$29.00 to C$38.00 in a report on Wednesday, April 20th. Finally, Barclays upped their price target on shares of Barrick Gold from $26.00 to $28.00 and gave the company an “overweight” rating in a research note on Thursday, April 21st. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $31.01.

About Barrick Gold (Get Rating)

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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