Barrick Gold Corp (NYSE:GOLD) is ANTIPODES PARTNERS Ltd’s 5th Largest Position

ANTIPODES PARTNERS Ltd lowered its holdings in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 14.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,486,288 shares of the gold and copper producer’s stock after selling 1,218,335 shares during the period. Barrick Gold accounts for 4.5% of ANTIPODES PARTNERS Ltd’s investment portfolio, making the stock its 5th largest holding. ANTIPODES PARTNERS Ltd owned 0.43% of Barrick Gold worth $124,871,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. SouthState Corp grew its holdings in shares of Barrick Gold by 2.2% in the 2nd quarter. SouthState Corp now owns 458,336 shares of the gold and copper producer’s stock worth $7,645,000 after acquiring an additional 9,922 shares during the period. Regal Partners Ltd raised its stake in shares of Barrick Gold by 293.9% during the 2nd quarter. Regal Partners Ltd now owns 1,534,225 shares of the gold and copper producer’s stock worth $25,591,000 after buying an additional 1,144,726 shares during the last quarter. Legacy Capital Wealth Partners LLC acquired a new position in shares of Barrick Gold during the 2nd quarter worth $368,000. CM Management LLC grew its stake in Barrick Gold by 56.3% in the 2nd quarter. CM Management LLC now owns 125,000 shares of the gold and copper producer’s stock valued at $2,085,000 after acquiring an additional 45,000 shares during the last quarter. Finally, CIBC Asset Management Inc increased its holdings in Barrick Gold by 3.3% during the 2nd quarter. CIBC Asset Management Inc now owns 14,546,530 shares of the gold and copper producer’s stock valued at $242,491,000 after acquiring an additional 461,406 shares in the last quarter. Institutional investors and hedge funds own 62.85% of the company’s stock.

Barrick Gold Stock Up 0.7 %

Shares of NYSE GOLD opened at $19.46 on Friday. The stock has a market capitalization of $34.11 billion, a PE ratio of 23.73, a P/E/G ratio of 0.51 and a beta of 0.51. The company has a quick ratio of 2.49, a current ratio of 3.32 and a debt-to-equity ratio of 0.15. The firm has a fifty day moving average of $18.61 and a 200-day moving average of $17.21. Barrick Gold Corp has a 52-week low of $13.76 and a 52-week high of $20.89.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its quarterly earnings data on Monday, August 12th. The gold and copper producer reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. The company had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.13 billion. Barrick Gold had a return on equity of 5.55% and a net margin of 12.78%. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period last year, the business posted $0.19 EPS. On average, analysts anticipate that Barrick Gold Corp will post 1.21 EPS for the current year.

Barrick Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.06%. The ex-dividend date is Friday, August 30th. Barrick Gold’s payout ratio is currently 48.78%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. CIBC increased their price target on shares of Barrick Gold from $23.00 to $27.00 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. Jefferies Financial Group boosted their price target on Barrick Gold from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, July 12th. Argus raised Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research note on Thursday, August 29th. Finally, Scotiabank boosted their target price on shares of Barrick Gold from $23.00 to $25.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Barrick Gold presently has a consensus rating of “Moderate Buy” and an average target price of $22.80.

About Barrick Gold

Barrick Gold Corporation is a sector-leading gold and copper producer.  Its shares trade on the New York Stock Exchange under the symbol GOLD and on the Toronto Stock Exchange under the symbol ABX.
 
In January 2019 Barrick merged with Randgold Resources and in July that year it combined its gold mines in Nevada, USA, with those of Newmont Corporation in a joint venture, Nevada Gold Mines, which is majority-owned and operated by Barrick.