OVERSEA CHINESE BANKING Corp Ltd Makes New Investment in Barrick Gold Corp (NYSE:GOLD)

OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 21,121 shares of the gold and copper producer’s stock, valued at approximately $444,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in GOLD. Entropy Technologies LP purchased a new position in shares of Barrick Gold during the third quarter valued at approximately $3,711,000. Jaffetilchin Investment Partners LLC bought a new position in Barrick Gold during the 3rd quarter valued at $819,000. River Global Investors LLP lifted its stake in Barrick Gold by 8.2% during the 3rd quarter. River Global Investors LLP now owns 250,729 shares of the gold and copper producer’s stock valued at $4,982,000 after acquiring an additional 18,994 shares in the last quarter. Legacy Capital Wealth Partners LLC boosted its holdings in Barrick Gold by 14.2% during the 3rd quarter. Legacy Capital Wealth Partners LLC now owns 25,176 shares of the gold and copper producer’s stock worth $501,000 after acquiring an additional 3,140 shares during the last quarter. Finally, Mesirow Financial Investment Management Inc. grew its stake in shares of Barrick Gold by 5.7% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 29,475 shares of the gold and copper producer’s stock worth $586,000 after acquiring an additional 1,596 shares in the last quarter. 62.85% of the stock is owned by institutional investors.

Barrick Gold Price Performance

GOLD opened at $16.81 on Thursday. The company has a market capitalization of $29.38 billion, a price-to-earnings ratio of 18.08, a PEG ratio of 0.40 and a beta of 0.56. The company has a quick ratio of 2.06, a current ratio of 2.65 and a debt-to-equity ratio of 0.14. The firm has a 50-day moving average price of $19.84 and a 200-day moving average price of $18.49. Barrick Gold Corp has a twelve month low of $13.76 and a twelve month high of $21.35.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its quarterly earnings data on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. Barrick Gold had a net margin of 13.19% and a return on equity of 5.82%. The business had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same period in the previous year, the business earned $0.19 EPS. Barrick Gold’s revenue was up 11.6% compared to the same quarter last year. Equities analysts expect that Barrick Gold Corp will post 1.29 EPS for the current year.

Barrick Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors 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 yield of 2.38%. Barrick Gold’s dividend payout ratio (DPR) is 43.01%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Jefferies Financial Group raised their price target on shares of Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, September 13th. UBS Group lowered Barrick Gold from a “buy” rating to a “neutral” rating and reduced their target price for the company from $23.00 to $22.00 in a report on Wednesday, October 30th. Royal Bank of Canada lifted their price target on Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Scotiabank reduced their price objective on Barrick Gold from $25.00 to $24.00 and set a “sector outperform” rating for the company in a research note on Friday, November 8th. Finally, Raymond James decreased 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. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Barrick Gold presently has a consensus rating of “Moderate Buy” and a consensus price target 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.