Murphy Pohlad Asset Management LLC boosted its holdings in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 24.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,800 shares of the gold and copper producer’s stock after buying an additional 5,325 shares during the quarter. Murphy Pohlad Asset Management LLC’s holdings in Barrick Gold were worth $530,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of GOLD. Safeguard Investment Advisory Group LLC acquired a new stake in Barrick Gold in the 4th quarter valued at $25,000. Johnson Midwest Financial LLC bought a new position in Barrick Gold in the fourth quarter valued at about $26,000. Sterling Investment Advisors Ltd. lifted its position in shares of Barrick Gold by 241.5% in the fourth quarter. Sterling Investment Advisors Ltd. now owns 1,414 shares of the gold and copper producer’s stock worth $32,000 after buying an additional 1,000 shares in the last quarter. Crewe Advisors LLC purchased a new stake in Barrick Gold during the fourth quarter valued at approximately $34,000. Finally, Filbrandt Wealth Management LLC raised its holdings in shares of Barrick Gold by 272.9% in the fourth quarter. Filbrandt Wealth Management LLC now owns 1,540 shares of the gold and copper producer’s stock worth $35,000 after buying an additional 1,127 shares during the period. Institutional investors and hedge funds own 60.93% of the company’s stock.
GOLD has been the topic of several recent research reports. TheStreet cut Barrick Gold from a “b-” rating to a “c” rating in a research report on Monday, March 15th. Stifel Nicolaus raised their target price on Barrick Gold from $42.50 to $43.25 and gave the stock a “buy” rating in a research note on Monday, February 8th. Zacks Investment Research upgraded Barrick Gold from a “sell” rating to a “hold” rating and set a $23.00 price objective for the company in a research note on Friday, January 29th. National Bank Financial upgraded Barrick Gold from a “sector perform” rating to an “outperform” rating in a research report on Monday, January 11th. Finally, Barclays upgraded Barrick Gold from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $27.00 to $28.00 in a report on Wednesday, January 6th. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $30.77.
Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its earnings results on Wednesday, February 17th. The gold and copper producer reported $0.35 EPS for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.04. Barrick Gold had a net margin of 24.81% and a return on equity of 5.63%. The business had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.22 billion. As a group, equities analysts predict that Barrick Gold Corp will post 1.12 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 15th. Shareholders of record on Monday, March 1st were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend was Friday, February 26th. Barrick Gold’s dividend payout ratio is currently 70.59%.
Barrick Gold Company 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.
Recommended Story: The basics of gap trading strategies
Want to see what other hedge funds are holding GOLD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Barrick Gold Corp (NYSE:GOLD) (TSE:ABX).
Receive News & Ratings for Barrick Gold Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Barrick Gold and related companies with MarketBeat.com's FREE daily email newsletter.