Keating Investment Counselors Inc. Has $8.88 Million Stock Holdings in Barrick Gold Corp (NYSE:GOLD)

Keating Investment Counselors Inc. reduced its position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 9.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 532,278 shares of the gold and copper producer’s stock after selling 57,225 shares during the period. Barrick Gold accounts for approximately 2.8% of Keating Investment Counselors Inc.’s holdings, making the stock its 6th biggest position. Keating Investment Counselors Inc.’s holdings in Barrick Gold were worth $8,878,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Letko Brosseau & Associates Inc. acquired a new position in Barrick Gold during the 2nd quarter valued at $66,820,000. Gemsstock Ltd. acquired a new position in Barrick Gold during the 2nd quarter valued at $12,522,000. SouthState Corp raised its stake in Barrick Gold by 2.2% during the 2nd quarter. SouthState Corp now owns 458,336 shares of the gold and copper producer’s stock valued at $7,645,000 after purchasing an additional 9,922 shares during the last quarter. Regal Partners Ltd raised its stake in 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 valued at $25,591,000 after purchasing an additional 1,144,726 shares during the last quarter. Finally, Legacy Capital Wealth Partners LLC acquired a new position in Barrick Gold during the 2nd quarter valued at $368,000. 62.85% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on GOLD. Jefferies Financial Group upped their target price on shares of Barrick Gold from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Scotiabank upped 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. CIBC increased their price objective on shares of Barrick Gold from $23.00 to $27.00 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. Finally, Argus upgraded shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research note on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $22.80.

Barrick Gold Stock Down 2.4 %

Shares of NYSE GOLD opened at $19.00 on Friday. The firm has a market capitalization of $33.30 billion, a PE ratio of 23.17, a price-to-earnings-growth ratio of 0.51 and a beta of 0.55. The company has a current ratio of 3.32, a quick ratio of 2.49 and a debt-to-equity ratio of 0.15. Barrick Gold Corp has a 1 year low of $13.76 and a 1 year high of $20.89. The firm’s 50-day moving average is $18.65 and its 200-day moving average is $17.26.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its earnings results on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.05. The company had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.13 billion. Barrick Gold had a net margin of 12.78% and a return on equity of 5.55%. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.19 EPS. Equities analysts expect that Barrick Gold Corp will post 1.21 EPS for the current year.

Barrick Gold Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be given a $0.10 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.11%. Barrick Gold’s dividend payout ratio is 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.