Essex Investment Management Co. LLC Sells 6,094 Shares of Barrick Gold Corp (NYSE:GOLD)

Essex Investment Management Co. LLC decreased its position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 17.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 28,988 shares of the gold and copper producer’s stock after selling 6,094 shares during the period. Essex Investment Management Co. LLC’s holdings in Barrick Gold were worth $577,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Clean Yield Group bought a new stake in shares of Barrick Gold during the first quarter valued at approximately $25,000. Exchange Traded Concepts LLC grew its holdings in shares of 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 purchasing an additional 935 shares in the last quarter. Crewe Advisors LLC grew its holdings in shares of Barrick Gold by 628.8% in the second quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer’s stock valued at $30,000 after purchasing an additional 1,572 shares in the last quarter. Jackson Grant Investment Advisers Inc. purchased a new position in shares of Barrick Gold in the second quarter valued at $32,000. Finally, LRI Investments LLC purchased a new position in shares of Barrick Gold in the first quarter valued at $37,000. Institutional investors own 62.85% of the company’s stock.

Barrick Gold Stock Down 0.4 %

Shares of GOLD opened at $19.99 on Monday. The firm has a market capitalization of $35.04 billion, a P/E ratio of 24.38, a P/E/G ratio of 0.47 and a beta of 0.55. Barrick Gold Corp has a 12-month low of $13.76 and a 12-month high of $21.21. The company has a current ratio of 3.01, a quick ratio of 2.31 and a debt-to-equity ratio of 0.15. The firm has a fifty day moving average price of $19.74 and a 200-day moving average price of $18.12.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its earnings results on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. The firm had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.13 billion. Barrick Gold had a net margin of 12.78% and a return on equity of 5.53%. The business’s revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.19 earnings per share. Equities research analysts expect that Barrick Gold Corp will post 1.27 earnings per share for the current year.

Barrick Gold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date was Friday, August 30th. Barrick Gold’s dividend payout ratio is currently 48.78%.

Wall Street Analysts Forecast Growth

GOLD has been the subject of a number of recent research reports. Raymond James cut their target price on shares of Barrick Gold from $26.50 to $26.00 and set an “outperform” rating for the company in a report on Thursday, September 26th. CIBC raised their target price on shares of Barrick Gold from $23.00 to $27.00 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. Royal Bank of Canada raised their target price on shares of Barrick Gold from $21.00 to $22.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Argus raised shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a report on Thursday, August 29th. Finally, Scotiabank lifted their price objective on shares of Barrick Gold from $23.00 to $25.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Barrick Gold has an average rating of “Moderate Buy” and an average price target of $23.67.

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.