Mitsubishi UFJ Asset Management UK Ltd. Purchases 20,000 Shares of Barrick Gold Corp (NYSE:GOLD)

Mitsubishi UFJ Asset Management UK Ltd. grew its position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 200.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,000 shares of the gold and copper producer’s stock after purchasing an additional 20,000 shares during the quarter. Mitsubishi UFJ Asset Management UK Ltd.’s holdings in Barrick Gold were worth $597,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of GOLD. First Eagle Investment Management LLC lifted its stake in Barrick Gold by 31.6% in the first quarter. First Eagle Investment Management LLC now owns 58,820,050 shares of the gold and copper producer’s stock worth $978,766,000 after purchasing an additional 14,138,639 shares during the last quarter. EdgePoint Investment Group Inc. increased its holdings in shares of Barrick Gold by 38.8% in the first quarter. EdgePoint Investment Group Inc. now owns 18,170,814 shares of the gold and copper producer’s stock worth $302,366,000 after buying an additional 5,080,510 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Barrick Gold by 4,713.3% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,144,456 shares of the gold and copper producer’s stock valued at $69,141,000 after acquiring an additional 4,058,351 shares during the period. Letko Brosseau & Associates Inc. bought a new position in Barrick Gold during the 2nd quarter worth approximately $66,820,000. Finally, Equity Investment Corp lifted its position in Barrick Gold by 82.1% in the first quarter. Equity Investment Corp now owns 5,302,815 shares of the gold and copper producer’s stock valued at $88,239,000 after purchasing an additional 2,390,238 shares during the last quarter. 62.85% of the stock is owned by hedge funds and other institutional investors.

Barrick Gold Stock Up 2.9 %

Shares of GOLD traded up $0.58 on Friday, reaching $20.92. The stock had a trading volume of 22,610,902 shares, compared to its average volume of 21,058,141. The firm has a market capitalization of $36.67 billion, a price-to-earnings ratio of 25.51, a price-to-earnings-growth ratio of 0.47 and a beta of 0.55. The company has a 50-day simple moving average of $20.05 and a 200-day simple moving average of $18.22. Barrick Gold Corp has a 12-month low of $13.76 and a 12-month high of $21.21. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.31 and a current ratio of 3.01.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its quarterly earnings data on Monday, August 12th. The gold and copper producer reported $0.32 EPS for the quarter, topping the consensus estimate of $0.27 by $0.05. Barrick Gold had a net margin of 12.78% and a return on equity of 5.53%. The business had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same quarter in the previous year, the firm posted $0.19 earnings per share. Barrick Gold’s quarterly revenue was up 11.6% on a year-over-year basis. Sell-side analysts predict that Barrick Gold Corp will post 1.27 EPS for the current year.

Barrick Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were issued a $0.10 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.40 annualized dividend and a yield of 1.91%. Barrick Gold’s dividend payout ratio (DPR) is presently 48.78%.

Analysts Set New Price Targets

GOLD has been the subject of a number of analyst reports. Scotiabank increased their price objective on Barrick Gold from $23.00 to $25.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. Argus raised shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a report on Thursday, August 29th. Royal Bank of Canada increased their target price on shares of Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Raymond James cut their target price on Barrick Gold from $26.50 to $26.00 and set an “outperform” rating on the stock in a research note on Thursday, September 26th. Finally, UBS Group upped their price target on Barrick Gold from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $23.60.

Barrick Gold Company Profile

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.