Aigen Investment Management LP Boosts Stake in Barrick Gold Corp (NYSE:GOLD)

Aigen Investment Management LP lifted its holdings in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 330.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 99,240 shares of the gold and copper producer’s stock after acquiring an additional 76,186 shares during the quarter. Aigen Investment Management LP’s holdings in Barrick Gold were worth $1,974,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Ritholtz Wealth Management increased its position in shares of Barrick Gold by 2.8% in the 3rd quarter. Ritholtz Wealth Management now owns 18,163 shares of the gold and copper producer’s stock worth $361,000 after purchasing an additional 502 shares during the last quarter. Greenleaf Trust lifted its stake in Barrick Gold by 2.1% in the third quarter. Greenleaf Trust now owns 25,659 shares of the gold and copper producer’s stock valued at $510,000 after buying an additional 540 shares during the last quarter. Silverlake Wealth Management LLC boosted its holdings in shares of Barrick Gold by 1.3% during the third quarter. Silverlake Wealth Management LLC now owns 49,890 shares of the gold and copper producer’s stock valued at $992,000 after acquiring an additional 628 shares during the period. Whitener Capital Management Inc. grew its position in shares of Barrick Gold by 0.9% during the third quarter. Whitener Capital Management Inc. now owns 73,185 shares of the gold and copper producer’s stock worth $1,456,000 after acquiring an additional 675 shares during the last quarter. Finally, apricus wealth LLC increased its holdings in shares of Barrick Gold by 0.6% in the 3rd quarter. apricus wealth LLC now owns 112,850 shares of the gold and copper producer’s stock worth $2,245,000 after acquiring an additional 710 shares during the period. Institutional investors and hedge funds own 62.85% of the company’s stock.

Barrick Gold Trading Down 1.3 %

Shares of Barrick Gold stock traded down $0.23 on Tuesday, reaching $17.17. 3,698,544 shares of the company were exchanged, compared to its average volume of 21,225,086. Barrick Gold Corp has a fifty-two week low of $13.76 and a fifty-two week high of $21.35. The firm has a market capitalization of $30.01 billion, a price-to-earnings ratio of 18.71, a price-to-earnings-growth ratio of 0.43 and a beta of 0.56. The company has a current ratio of 3.01, a quick ratio of 2.31 and a debt-to-equity ratio of 0.15. The stock has a fifty day moving average price of $19.89 and a 200-day moving average price of $18.49.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its quarterly earnings data on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.05. Barrick Gold had a return on equity of 5.85% and a net margin of 13.19%. The firm had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the previous year, the company earned $0.19 EPS. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. On average, analysts expect that Barrick Gold Corp will post 1.29 EPS for the current year.

Barrick Gold Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.10 per share. The ex-dividend date is Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.33%. Barrick Gold’s dividend payout ratio is currently 43.01%.

Analyst Upgrades and Downgrades

GOLD has been the subject of several recent analyst reports. Royal Bank of Canada upped their target price on shares of Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Jefferies Financial Group raised their target price on shares of Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, September 13th. TD Securities lowered their price objective on shares of Barrick Gold from $27.00 to $26.00 and set a “buy” rating on the stock in a research note on Friday. Raymond James cut their target price on Barrick Gold from $26.50 to $26.00 and set an “outperform” rating for the company in a research report on Thursday, September 26th. Finally, Scotiabank dropped their price objective on Barrick Gold from $25.00 to $24.00 and set a “sector outperform” rating on the stock in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $23.90.

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.