33,519 Shares in Barrick Gold Corp (NYSE:GOLD) Purchased by Arete Wealth Advisors LLC

Posted by Defense World Staff on Sep 16th, 2023

Arete Wealth Advisors LLC bought a new position in Barrick Gold Corp (NYSE:GOLD – Free Report) (TSE:ABX) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 33,519 shares of the gold and copper producer’s stock, valued at approximately $622,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Ameriprise Financial Inc. raised its holdings in shares of Barrick Gold by 11.2% in the 1st quarter. Ameriprise Financial Inc. now owns 19,009,633 shares of the gold and copper producer’s stock worth $354,001,000 after acquiring an additional 1,912,963 shares during the last quarter. SkyView Investment Advisors LLC bought a new stake in Barrick Gold in the 1st quarter worth about $557,000. New York State Common Retirement Fund grew its position in Barrick Gold by 10.6% in the 1st quarter. New York State Common Retirement Fund now owns 67,547 shares of the gold and copper producer’s stock worth $1,254,000 after purchasing an additional 6,477 shares in the last quarter. Harvest Portfolios Group Inc. bought a new stake in Barrick Gold in the 1st quarter worth about $605,000. Finally, Advisory Services Network LLC grew its position in Barrick Gold by 18.8% in the 1st quarter. Advisory Services Network LLC now owns 35,474 shares of the gold and copper producer’s stock worth $659,000 after purchasing an additional 5,615 shares in the last quarter. Institutional investors and hedge funds own 58.20% of the company’s stock.

Wall Street Analyst Weigh In

GOLD has been the subject of a number of recent analyst reports. BMO Capital Markets upped their price objective on shares of Barrick Gold from $29.00 to $30.00 and gave the stock an “outperform” rating in a research report on Wednesday. Cormark raised shares of Barrick Gold from a “market perform” rating to a “buy” rating in a research report on Wednesday, August 9th. Finally, CSFB reduced their price objective on shares of Barrick Gold from $22.00 to $20.00 and set an “outperform” rating for the company in a research report on Thursday, August 17th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Barrick Gold has an average rating of “Moderate Buy” and a consensus target price of $22.48.

Get Our Latest Report on Barrick Gold

Barrick Gold Stock Up 1.9 %

GOLD opened at $16.64 on Friday. The company has a 50 day moving average of $16.53 and a 200 day moving average of $13.98. The company has a market cap of $29.21 billion, a PE ratio of -416.00, a price-to-earnings-growth ratio of 9.80 and a beta of 0.38. Barrick Gold Corp has a 12 month low of $13.01 and a 12 month high of $20.75. The company has a current ratio of 2.71, a quick ratio of 2.14 and a debt-to-equity ratio of 0.15.

Barrick Gold (NYSE:GOLD – Get Free Report) (TSE:ABX) last released its quarterly earnings data on Tuesday, August 8th. The gold and copper producer reported $0.19 EPS for the quarter, topping the consensus estimate of $0.17 by $0.02. The company had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $3.40 billion. Barrick Gold had a net margin of 1.06% and a return on equity of 3.46%. During the same period last year, the firm earned $0.24 EPS. On average, sell-side analysts expect that Barrick Gold Corp will post 0.98 EPS for the current year.

Barrick Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Thursday, August 31st were issued a $0.10 dividend. The ex-dividend date was Wednesday, August 30th. This is an increase from Barrick Gold’s previous quarterly dividend of $0.07. This represents a $0.40 annualized dividend and a yield of 2.40%. Barrick Gold’s dividend payout ratio (DPR) is -1,000.00%.

About Barrick Gold

(Free Report)

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.