Inspire Advisors LLC Invests $541,000 in Barrick Gold Corp (NYSE:GOLD)

Inspire Advisors LLC bought a new position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 27,211 shares of the gold and copper producer’s stock, valued at approximately $541,000.

A number of other large investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Barrick Gold by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 64,761,067 shares of the gold and copper producer’s stock worth $1,077,624,000 after acquiring an additional 1,089,572 shares during the period. First Eagle Investment Management LLC increased its stake in Barrick Gold by 31.6% during the 1st 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 acquiring an additional 14,138,639 shares during the period. EdgePoint Investment Group Inc. increased its stake in Barrick Gold by 3.7% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 18,837,028 shares of the gold and copper producer’s stock worth $314,254,000 after acquiring an additional 666,214 shares during the period. National Bank of Canada FI increased its stake in Barrick Gold by 9.0% during the 1st quarter. National Bank of Canada FI now owns 14,887,656 shares of the gold and copper producer’s stock worth $251,929,000 after acquiring an additional 1,231,184 shares during the period. Finally, CIBC Asset Management Inc increased its stake 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 worth $242,491,000 after acquiring an additional 461,406 shares during the period. Institutional investors own 62.85% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on GOLD. Royal Bank of Canada raised their price objective on Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Argus raised Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a report on Thursday, August 29th. Jefferies Financial Group raised their target price on Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a report on Friday, September 13th. UBS Group raised their target price on Barrick Gold from $22.00 to $23.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Scotiabank raised their target price on Barrick Gold from $23.00 to $25.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $23.60.

Barrick Gold Trading Up 2.9 %

NYSE GOLD opened at $20.92 on Friday. The company has a quick ratio of 2.31, a current ratio of 3.01 and a debt-to-equity ratio of 0.15. Barrick Gold Corp has a twelve month low of $13.76 and a twelve month high of $21.21. The company has a market cap 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 business’s fifty day moving average is $20.05 and its 200 day moving average is $18.22.

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 the consensus estimate of $0.27 by $0.05. Barrick Gold had a return on equity of 5.53% and a net margin of 12.78%. The company had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter last year, the business posted $0.19 EPS. Barrick Gold’s revenue for the quarter was up 11.6% on a year-over-year basis. As a group, sell-side analysts expect that Barrick Gold Corp will post 1.27 EPS for the current fiscal year.

Barrick Gold Announces Dividend

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

Barrick Gold 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.