21,121 Shares in Barrick Gold Corp (NYSE:GOLD) Acquired by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 21,121 shares of the gold and copper producer’s stock, valued at approximately $444,000.

A number of other hedge funds have also recently made changes to their positions in the company. EdgePoint Investment Group Inc. increased its position in shares of Barrick Gold by 38.8% in the first quarter. EdgePoint Investment Group Inc. now owns 18,170,814 shares of the gold and copper producer’s stock worth $302,366,000 after purchasing an additional 5,080,510 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in Barrick Gold by 4,713.3% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,144,456 shares of the gold and copper producer’s stock worth $69,141,000 after buying an additional 4,058,351 shares in the last quarter. Letko Brosseau & Associates Inc. purchased a new position in Barrick Gold in the 2nd quarter worth approximately $66,820,000. Mizuho Markets Americas LLC bought a new position in shares of Barrick Gold in the 2nd quarter worth $31,768,000. Finally, Sound Shore Management Inc. CT raised its position in shares of Barrick Gold by 48.2% during the 2nd quarter. Sound Shore Management Inc. CT now owns 4,455,551 shares of the gold and copper producer’s stock valued at $74,319,000 after buying an additional 1,449,862 shares in the last quarter. 62.85% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GOLD has been the topic of a number of research analyst reports. Argus raised Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research note on Thursday, August 29th. Jefferies Financial Group increased their price objective on Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Scotiabank dropped their target price on Barrick Gold from $25.00 to $24.00 and set a “sector outperform” rating for the company in a research report on Friday, November 8th. Raymond James reduced their price target on shares of Barrick Gold from $26.50 to $26.00 and set an “outperform” rating on the stock in a research report on Thursday, September 26th. Finally, UBS Group lowered shares of Barrick Gold from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $23.00 to $22.00 in a report on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $23.90.

Barrick Gold Price Performance

Shares of Barrick Gold stock opened at $16.81 on Thursday. The company’s fifty day simple moving average is $19.84 and its two-hundred day simple moving average is $18.49. Barrick Gold Corp has a 12-month low of $13.76 and a 12-month high of $21.35. The firm has a market cap of $29.38 billion, a PE ratio of 18.08, a price-to-earnings-growth ratio of 0.40 and a beta of 0.56. The company has a quick ratio of 2.06, a current ratio of 2.65 and a debt-to-equity ratio of 0.14.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its earnings results on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.05. Barrick Gold had a return on equity of 5.82% and a net margin of 13.19%. The company had revenue of $3.16 billion for the quarter, compared to analysts’ expectations of $3.13 billion. During the same period last year, the firm earned $0.19 earnings per share. Barrick Gold’s quarterly revenue was up 11.6% on a year-over-year basis. As a group, equities analysts expect that Barrick Gold Corp will post 1.29 EPS for the current year.

Barrick Gold Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.10 per share. The ex-dividend date is Friday, November 29th. This represents a $0.40 annualized dividend and a dividend yield of 2.38%. Barrick Gold’s dividend payout ratio (DPR) is presently 43.01%.

Barrick Gold 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.