Metis Global Partners LLC Has $2.75 Million Stock Position in Barrick Gold Corp (NYSE:GOLD)

Metis Global Partners LLC raised its holdings in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 21.9% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 138,232 shares of the gold and copper producer’s stock after acquiring an additional 24,812 shares during the quarter. Metis Global Partners LLC’s holdings in Barrick Gold were worth $2,749,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Clean Yield Group acquired a new stake in shares of Barrick Gold in the 1st quarter valued at about $25,000. Exchange Traded Concepts LLC grew its stake in Barrick Gold by 198.1% in the third quarter. Exchange Traded Concepts LLC now owns 1,407 shares of the gold and copper producer’s stock valued at $28,000 after acquiring an additional 935 shares during the period. Crewe Advisors LLC increased its holdings in shares of Barrick Gold by 628.8% during the second quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer’s stock valued at $30,000 after acquiring an additional 1,572 shares in the last quarter. Jackson Grant Investment Advisers Inc. acquired a new position in shares of Barrick Gold during the second quarter worth approximately $32,000. Finally, Eastern Bank bought a new position in shares of Barrick Gold in the 3rd quarter worth $32,000. 62.85% of the stock is currently owned by institutional investors.

Barrick Gold Stock Up 0.4 %

Shares of NYSE:GOLD opened at $16.85 on Friday. Barrick Gold Corp has a 1 year low of $13.76 and a 1 year high of $21.35. The company has a market capitalization of $29.45 billion, a PE ratio of 18.12, a price-to-earnings-growth ratio of 0.40 and a beta of 0.56. The business has a fifty day moving average price of $19.79 and a two-hundred day moving average price of $18.48. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.65 and a quick ratio of 2.06.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its quarterly earnings results 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. The company had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.13 billion. Barrick Gold had a net margin of 13.19% and a return on equity of 5.82%. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.19 earnings per share. Analysts forecast that Barrick Gold Corp will post 1.29 earnings per share for the current year.

Barrick Gold Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.37%. Barrick Gold’s dividend payout ratio (DPR) is presently 43.01%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on GOLD shares. Raymond James lowered their price objective on shares of Barrick Gold from $26.50 to $26.00 and set an “outperform” rating on the stock in a report on Thursday, September 26th. Royal Bank of Canada upped their target price on shares of Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Scotiabank decreased their price objective on Barrick Gold from $25.00 to $24.00 and set a “sector outperform” rating for the company in a report on Friday, November 8th. UBS Group lowered Barrick Gold from a “buy” rating to a “neutral” rating and dropped their target price for the company from $23.00 to $22.00 in a report on Wednesday, October 30th. Finally, Jefferies Financial Group upped their price target on Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Friday, September 13th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $23.90.

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.