Several hedge funds have recently adjusted their investments in Barrick Gold. Wellington Management increased its stake by 58.4%, now owning 100.7 million shares worth about $1.82 billion. Vanguard Group raised its holdings by 1.7% to 64.8 million shares valued at $1.08 billion. First Eagle Investment increased its stake by 31.6% to 58.8 million shares worth nearly $978.8 million. EdgePoint raised its holdings by 3.7% to 18.8 million shares valued at $314.3 million. National Bank of Canada FI increased its stake by 9.0% to 14.9 million shares worth $251.9 million. Institutional investors now own 62.85% of Barrick Gold.
Analyst Ratings Changes
Analysts have given mixed ratings for Barrick Gold. Argus upgraded it to a buy with a target price of $24.00. Scotiabank raised its target from $23.00 to $25.00, while CIBC increased it from $23.00 to $27.00. Raymond James lowered its target from $26.50 to $26.00. Royal Bank of Canada increased its target from $21.00 to $22.00. Currently, 8 analysts rate it as a buy, and 2 as a hold, with an average rating of Moderate Buy and a price target of $23.67.
Barrick Gold Trading Performance
As of Friday, shares opened at $19.98. They have ranged from a low of $13.76 to a high of $21.21 over the past year. The company has strong liquidity ratios and a market cap of $35.02 billion. Barrick Gold recently beat quarterly earnings expectations, reporting $0.32 EPS vs. an expected $0.27, with revenue up 11.6% year-over-year.
Barrick Gold Dividend
Barrick Gold declared a quarterly dividend of $0.10 per share, resulting in an annual 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 both the NYSE (GOLD) and TSE (ABX). In 2019, it merged with Randgold Resources and formed the Nevada Gold Mines joint venture with Newmont Corporation.
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