Foundation research

Foundation Resource Management Inc. increases its position in Barrick Gold Corp (NYSE: GOLD)


Foundation Resource Management Inc. increased its stake in Barrick Gold Corp (NYSE: GOLDGet a rating) (TSE:ABX) by 3.1% in the 1st quarter, HoldingsChannel reports. The fund held 657,490 shares of the gold and copper producer after acquiring an additional 20,074 shares during the quarter. Barrick Gold represents approximately 2.5% of Foundation Resource Management Inc.’s investment portfolio, making the stock its 14th largest holding. Foundation Resource Management Inc.’s holdings in Barrick Gold were worth $16,128,000 when it last filed with the SEC.

A number of other large investors have also increased or reduced their stakes in the company. Van ECK Associates Corp raised its position in Barrick Gold by 6.1% in the fourth quarter. Van ECK Associates Corp now owns 88,939,006 shares of the gold and copper producer worth $1,689,852,000 after acquiring an additional 5,107,044 shares last quarter. Mackenzie Financial Corp increased its position in Barrick Gold shares by 2.8% in the fourth quarter. Mackenzie Financial Corp now owns 16,628,115 shares of the gold and copper producer valued at $316,156,000 after buying an additional 449,136 shares last quarter. Capital International Investors increased its position in Barrick Gold shares by 0.4% in the fourth quarter. Capital International Investors now owns 16,321,923 shares of the gold and copper producer valued at $310,117,000 after buying an additional 63,070 shares last quarter. Dimensional Fund Advisors LP increased its position in Barrick Gold shares by 8.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,698,422 shares of the gold and copper producer valued at $146,259,000 after buying an additional 621,927 shares last quarter. Finally, Capital Research Global Investors increased its position in Barrick Gold shares by 76.6% in the fourth quarter. Capital Research Global Investors now owns 7,498,258 shares of the gold and copper producer valued at $142,561,000 after buying 3,251,217 additional shares last quarter. Hedge funds and other institutional investors own 57.62% of the company’s shares.

NYSE: GOLD traded at $0.11 in midday trading on Wednesday, reaching $19.69. The company’s stock had a trading volume of 617,599 shares, compared to an average trading volume of 21,134,689 shares. The company’s fifty-day simple moving average is $21.60 and its two-hundred-day simple moving average is $21.31. The company has a debt ratio of 0.16, a current ratio of 3.95 and a quick ratio of 3.12. Barrick Gold Corp has a 12-month low of $17.27 and a 12-month high of $26.07. The stock has a market capitalization of $35.04 billion, a P/E ratio of 17.18, a P/E/G ratio of 10.52 and a beta of 0.25.

Barrick Gold (NYSE: GOLDGet a rating) (TSE:ABX) last released its quarterly results on Wednesday, May 4. The gold and copper producer reported earnings per share (EPS) of $0.26 for the quarter, beating analysts’ consensus estimate of $0.23 by $0.03. Barrick Gold had a return on equity of 6.42% and a net margin of 16.87%. The company posted revenue of $2.85 billion for the quarter, versus analyst estimates of $2.75 billion. During the same period last year, the company achieved EPS of $0.29. The company’s quarterly revenue was down 3.5% year over year. Sell-side analysts expect Barrick Gold Corp to post EPS of 1.15 for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 15. Shareholders of record on Friday, May 27 received a dividend of $0.20. This represents a dividend of $0.80 on an annualized basis and a yield of 4.06%. This is a positive change from Barrick Gold’s previous quarterly dividend of $0.08. The ex-dividend date was Thursday, May 26. Barrick Gold’s dividend payout ratio (DPR) is currently 35.09%.

A number of research analysts have weighed in on the company recently. Jefferies Financial Group raised its price target on Barrick Gold from $23.00 to $24.00 and gave the company a “holding” rating in a Wednesday, March 9 research report. TD Securities lowered its price target on Barrick Gold from $31.00 to $30.00 and set a “buy” rating for the company in a Thursday, May 5 research report. National Bank Financial raised its price target on Barrick Gold from CA$29.00 to CA$38.00 in a Wednesday, April 20 research note. Raymond James set a price target of $31.00 on Barrick Gold and gave the company an “outperform” rating in a Thursday, May 5 research note. Finally, Sanford C. Bernstein downgraded Barrick Gold from an “outperforming” rating to a “market performing” rating in a Monday, April 25 research note. One equity research analyst gave the stock a sell rating, four gave the stock a hold rating and eight gave the stock a buy rating. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $31.01.

About Barrick Gold (Get a rating)

Barrick Gold Corporation is one of the industry’s leading gold and copper producers. 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 of the same year it combined its gold mines in Nevada, USA, with those of Newmont Corporation in a joint venture, Nevada Gold Mines, owned and operated majority by Barrick.

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Want to see which other hedge funds hold GOLD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Barrick Gold Corp (NYSE: GOLDGet a rating) (TSE:ABX).

Institutional ownership by quarter for Barrick Gold (NYSE: GOLD)



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