Recently, various hedge funds have changed their positions in Barrick Gold. Wellington Management increased its stake by 58.4%, owning 100.7 million shares worth $1.82 billion after adding 37.1 million shares. Vanguard Group raised its stake by 1.7% to 64.8 million shares valued at $1.08 billion, adding 1.1 million shares. First Eagle Investment Management boosted its stake by 31.6%, now owning 58.8 million shares worth $978.8 million after buying 14.1 million shares. EdgePoint Investment Group increased its holdings by 3.7%, holding 18.8 million shares valued at $314.3 million after acquiring 666,214 shares. National Bank of Canada FI raised its stake by 9.0%, owning 14.9 million shares worth $251.9 million after buying 1.2 million shares. Overall, institutional investors hold 62.85% of Barrick Gold’s stock.
Analyst Ratings Changes
Analysts have updated their ratings for Barrick Gold. Argus upgraded it from hold to buy with a $24 price target. Scotiabank increased its target from $23 to $25 with a sector outperform rating. CIBC raised its target from $23 to $27, giving it an outperformer rating. Raymond James slightly lowered their target from $26.50 to $26, maintaining an outperform rating. Royal Bank of Canada increased its target from $21 to $22, also with an outperform rating. Currently, two analysts rate it as a hold and eight as a buy, resulting in an average rating of Moderate Buy with a target of $23.67.
Check Out Our Latest Stock Analysis on GOLD
Barrick Gold Trading Down 0.4%
Barrick Gold shares opened at $19.98. The stock has a one-year low of $13.76 and high of $21.21. Key financial ratios include a current ratio of 3.01, a quick ratio of 2.31, and a debt-to-equity ratio of 0.15. The company has a market cap of $35.02 billion, a PE ratio of 24.37, and a beta of 0.55. Barrick Gold recently reported earnings of $0.32 per share, beating estimates of $0.27, with revenues of $3.16 billion, up 11.6% year-over-year. Analysts expect an EPS of 1.27 for the fiscal year.
Barrick Gold Announces Dividend
The company declared a quarterly dividend of $0.10 per share, paid on September 16, with a yield of 2.00%. The annual dividend totals $0.40, with a payout ratio of 48.78%.
About Barrick Gold
Barrick Gold Corporation is a leading gold and copper producer listed on the NYSE as GOLD and TSE as ABX. It merged with Randgold Resources in January 2019 and partnered with Newmont Corporation for Nevada Gold Mines.
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