Multiple hedge funds have changed their investments in Barrick Gold. Wellington Management increased its stake by 58.4% in Q4, now holding 100,680,644 shares worth $1.82 billion after adding 37,128,653 shares. Vanguard Group raised its stake by 1.7% in Q1, now owning 64,761,067 shares valued at $1.08 billion after acquiring 1,089,572 shares. First Eagle increased its stake by 31.6% in Q1, holding 58,820,050 shares worth $978.77 million after adding 14,138,639 shares. EdgePoint raised its shares by 3.7% in Q2, now owning 18,837,028 shares valued at $314.25 million after acquiring 666,214 shares. National Bank of Canada FI raised its stake by 9.0% in Q1, now holding 14,887,656 shares worth $251.93 million after adding 1,231,184 shares. Together, institutional investors own 62.85% of Barrick Gold.
Analyst Ratings Changes
Analysts have made several rating changes for Barrick Gold. Argus upgraded it from hold to buy with a $24 price target on August 29. Scotiabank raised their target from $23 to $25 and rated it sector outperform on August 19. CIBC changed its price target from $23 to $27 with an outperformer rating on July 10. Raymond James lowered its target from $26.50 to $26 but maintained an outperform rating on September 26. Royal Bank of Canada increased its target from $21 to $22 with an outperform rating on September 10. Currently, there are two hold ratings and eight buy ratings, with an average recommendation of Moderate Buy and a price target of $23.67.
Barrick Gold Trading Update
As of Friday, Barrick Gold shares opened at $19.98. The stock’s 1-year low is $13.76 and high is $21.21. Barrick has a market cap of $35.02 billion, a PE ratio of 24.37, and a PEG ratio of 0.47. The company reported $0.32 earnings per share last quarter, exceeding estimates of $0.27. Revenue was $3.16 billion, up 11.6% year-over-year. Analysts expect Barrick Gold to post an EPS of 1.27 for the current fiscal year.
Barrick Gold Announces Dividend
Barrick Gold declared a quarterly dividend of $0.10 per share, paid on September 16, with a yield of 2.00%. The payout ratio is 48.78%.
About Barrick Gold
Barrick Gold Corporation is a key player in gold and copper production, trading as GOLD on the NYSE and ABX on the Toronto Exchange. It merged with Randgold Resources in January 2019 and formed a joint venture, Nevada Gold Mines, with Newmont Corporation in July 2019.
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