K.J. Harrison & Partners Inc Purchases Shares of 13,045 Barrick Gold Corp (NYSE:GOLD)

K.J. Harrison & Partners Inc bought a new position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 13,045 shares of the gold and copper producer’s stock, valued at approximately $236,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bruce G. Allen Investments LLC purchased a new position in Barrick Gold in the 4th quarter worth approximately $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Barrick Gold during the fourth quarter valued at about $61,000. Cary Street Partners Investment Advisory LLC lifted its stake in shares of Barrick Gold by 41.1% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 3,919 shares of the gold and copper producer’s stock worth $57,000 after acquiring an additional 1,142 shares in the last quarter. Headlands Technologies LLC purchased a new position in Barrick Gold in the third quarter valued at about $75,000. Finally, Fifth Third Bancorp grew its stake in Barrick Gold by 13.1% during the 3rd quarter. Fifth Third Bancorp now owns 6,067 shares of the gold and copper producer’s stock valued at $88,000 after purchasing an additional 702 shares in the last quarter. Institutional investors and hedge funds own 62.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. BMO Capital Markets decreased their price target on shares of Barrick Gold from $27.00 to $26.00 and set an “outperform” rating for the company in a research report on Wednesday, April 17th. Royal Bank of Canada reissued an “outperform” rating and issued a $18.00 target price on shares of Barrick Gold in a research report on Monday, March 4th. Raymond James reduced their price target on shares of Barrick Gold from $24.00 to $23.00 and set an “outperform” rating on the stock in a research report on Thursday, February 15th. Jefferies Financial Group initiated coverage on Barrick Gold in a report on Thursday, February 29th. They issued a “buy” rating and a $21.00 price objective for the company. Finally, Scotiabank decreased their target price on Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating for the company in a research report on Tuesday, February 20th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $20.06.

Barrick Gold Price Performance

Shares of GOLD traded up $0.01 during mid-day trading on Friday, hitting $17.09. The company’s stock had a trading volume of 19,814,196 shares, compared to its average volume of 29,788,420. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.16 and a quick ratio of 2.40. The firm has a 50-day moving average price of $16.14 and a 200 day moving average price of $16.31. Barrick Gold Corp has a fifty-two week low of $13.76 and a fifty-two week high of $20.75. The stock has a market capitalization of $30.00 billion, a price-to-earnings ratio of 23.72, a PEG ratio of 1.50 and a beta of 0.58.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its quarterly earnings results on Wednesday, February 14th. The gold and copper producer reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.06. The company had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.13 billion. Barrick Gold had a return on equity of 4.64% and a net margin of 11.16%. During the same quarter in the prior year, the company earned $0.13 earnings per share. On average, research analysts predict that Barrick Gold Corp will post 0.95 EPS for the current fiscal year.

Barrick Gold Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were paid a $0.074 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $0.30 annualized dividend and a yield of 1.73%. Barrick Gold’s dividend payout ratio is presently 55.56%.

About Barrick Gold

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.