Waratah Capital Advisors Ltd. Increases Stake in Barrick Gold Corp (NYSE:GOLD)

Waratah Capital Advisors Ltd. increased its position in shares of Barrick Gold Corp (NYSE:GOLDGet Rating) (TSE:ABX) by 27.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 957,041 shares of the gold and copper producer’s stock after buying an additional 207,679 shares during the period. Waratah Capital Advisors Ltd. owned about 0.05% of Barrick Gold worth $23,474,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Hazlett Burt & Watson Inc. purchased a new position in Barrick Gold in the first quarter valued at about $26,000. KRS Capital Management LLC purchased a new position in Barrick Gold in the fourth quarter valued at about $27,000. Glassman Wealth Services grew its stake in Barrick Gold by 99.3% in the first quarter. Glassman Wealth Services now owns 1,160 shares of the gold and copper producer’s stock valued at $28,000 after purchasing an additional 578 shares during the last quarter. JFS Wealth Advisors LLC grew its stake in Barrick Gold by 91.6% in the first quarter. JFS Wealth Advisors LLC now owns 1,226 shares of the gold and copper producer’s stock valued at $30,000 after purchasing an additional 586 shares during the last quarter. Finally, Chilton Capital Management LLC purchased a new position in Barrick Gold in the fourth quarter valued at about $42,000. Hedge funds and other institutional investors own 58.20% of the company’s stock.

Wall Street Analysts Forecast Growth

GOLD has been the subject of several recent analyst reports. National Bank Financial lowered their price target on Barrick Gold from C$34.00 to C$26.00 in a report on Thursday, July 21st. Sanford C. Bernstein downgraded Barrick Gold from an “outperform” rating to a “market perform” rating in a report on Monday, April 25th. TD Securities decreased their target price on Barrick Gold from $31.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, May 5th. Barclays decreased their target price on Barrick Gold from $28.00 to $25.00 and set an “overweight” rating for the company in a report on Tuesday, July 19th. Finally, Raymond James set a $31.00 target price on Barrick Gold and gave the stock an “outperform” rating in a report on Thursday, May 5th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $29.37.

Barrick Gold Price Performance

Shares of GOLD traded down $0.18 during trading hours on Friday, hitting $15.60. 24,578,115 shares of the stock were exchanged, compared to its average volume of 24,260,698. The company has a debt-to-equity ratio of 0.16, a quick ratio of 3.23 and a current ratio of 4.01. Barrick Gold Corp has a 12-month low of $14.80 and a 12-month high of $26.07. The company has a market cap of $27.63 billion, a price-to-earnings ratio of 14.31, a price-to-earnings-growth ratio of 7.44 and a beta of 0.31. The stock’s 50-day moving average price is $17.88 and its two-hundred day moving average price is $20.88.

Barrick Gold (NYSE:GOLDGet Rating) (TSE:ABX) last issued its quarterly earnings results on Wednesday, May 4th. The gold and copper producer reported $0.26 EPS for the quarter, topping the consensus estimate of $0.23 by $0.03. Barrick Gold had a return on equity of 6.26% and a net margin of 16.18%. The firm had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $2.75 billion. During the same period in the previous year, the business earned $0.29 earnings per share. The firm’s revenue for the quarter was down 3.5% on a year-over-year basis. Research analysts expect that Barrick Gold Corp will post 1.06 earnings per share for the current year.

Barrick Gold Profile

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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.

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Institutional Ownership by Quarter for Barrick Gold (NYSE:GOLD)

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