Recently, several hedge funds adjusted their stakes in Barrick Gold. Wellington Management increased theirs by 58.4%, owning 100.7 million shares worth $1.82 billion after adding 37.1 million shares. Vanguard raised its stake by 1.7%, now holding 64.8 million shares valued at $1.08 billion, after buying 1.1 million shares. First Eagle added 31.6% more, totaling 58.8 million shares worth $978.8 million, and EdgePoint increased theirs by 3.7%, owning 18.8 million shares now valued at $314.3 million. National Bank also grew its holdings by 9.0%, with 14.9 million shares worth $251.9 million. Overall, institutional investors own 62.85% of Barrick Gold.
Analyst Ratings Changes
Analysts have reacted positively toward Barrick Gold. Argus raised its rating to “buy” with a $24 price target on August 29. Scotiabank increased its target from $23 to $25, while CIBC raised theirs from $23 to $27. Raymond James slightly lowered theirs from $26.50 to $26, and Royal Bank of Canada raised its target from $21 to $22. In total, two analysts have given a “hold” rating, and eight have rated it “buy.” The average rating is “Moderate Buy” with a target of $23.67 according to MarketBeat.com.
Check Out Our Latest Stock Analysis on GOLD
Barrick Gold Trading Down 0.4 %
Barrick Gold shares opened at $19.98, with a 1-year low of $13.76 and a high of $21.21. The company has a strong financial position, with a current ratio of 3.01 and a debt-to-equity ratio of 0.15. Its market cap is $35.02 billion and it recently reported earnings of $0.32 per share, exceeding estimates. Revenue was $3.16 billion, an 11.6% year-over-year increase.
Barrick Gold Announces Dividend
The company declared a quarterly dividend of $0.10 per share, paid on September 16, representing a $0.40 annual dividend with a yield of 2.00%.
About Barrick Gold
(Free Report) Barrick Gold is a leading gold and copper producer, trading on NYSE as GOLD and on TSE as ABX. It merged with Randgold in January 2019 and operates Nevada Gold Mines in partnership with Newmont.
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