Investment firms have recently adjusted their positions in Barrick Gold. Wellington Management raised its stake by 58.4%, now holding 100.7 million shares valued at $1.82 billion. Vanguard increased its stake by 1.7%, owning 64.8 million shares worth $1.08 billion. First Eagle grew its holdings by 31.6%, owning 58.8 million shares valued at $978.8 million. EdgePoint raised its share by 3.7% to 18.8 million shares worth $314.3 million, while National Bank of Canada increased its stake by 9% to 14.9 million shares valued at $251.9 million. Institutional investors now own 62.85% of the company.
Analyst Ratings Changes
Analysts have given varied ratings for Barrick Gold. Argus upgraded it from “hold” to “buy” with a price target of $24. Scotiabank raised its target from $23 to $25. CIBC increased its target from $23 to $27. Raymond James slightly lowered its target from $26.50 to $26. Finally, Royal Bank of Canada increased its target from $21 to $22. Currently, Barrick Gold has an average rating of “Moderate Buy” with a target price of $23.67.
Barrick Gold Trading Down 0.4 %
Barrick Gold’s stock opened at $19.98 on Friday. It has a 1-year low of $13.76 and a high of $21.21. The company’s market cap is $35.02 billion with a PE ratio of 24.37. The latest quarterly earnings revealed $0.32 per share, exceeding estimates of $0.27, with revenue of $3.16 billion, up 11.6% year-over-year.
Barrick Gold Announces Dividend
Barrick declared a quarterly dividend of $0.10 per share, payable on September 16th, suggesting an annual dividend of $0.40 and a yield of 2.00%. The payout ratio stands at 48.78%.
About Barrick Gold
Barrick Gold Corporation is a leading producer of gold and copper, trading on the NYSE as GOLD and the TSE as ABX. It merged with Randgold Resources in January 2019 and formed a joint venture with Newmont Corporation in Nevada.
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