Lebenthal Global Advisors LLC Sells 21,395 Shares of Barrick Gold Corp (NYSE:GOLD)

Lebenthal Global Advisors LLC decreased its position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 41.6% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,982 shares of the gold and copper producer’s stock after selling 21,395 shares during the period. Lebenthal Global Advisors LLC’s holdings in Barrick Gold were worth $596,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Barrick Gold by 1.7% in the first quarter. Vanguard Group Inc. now owns 64,761,067 shares of the gold and copper producer’s stock worth $1,077,624,000 after purchasing an additional 1,089,572 shares during the last quarter. First Eagle Investment Management LLC grew its holdings in shares of Barrick Gold by 31.6% in the first quarter. First Eagle Investment Management LLC now owns 58,820,050 shares of the gold and copper producer’s stock worth $978,766,000 after purchasing an additional 14,138,639 shares during the last quarter. EdgePoint Investment Group Inc. grew its holdings in shares of Barrick Gold by 3.7% in the second quarter. EdgePoint Investment Group Inc. now owns 18,837,028 shares of the gold and copper producer’s stock worth $314,254,000 after purchasing an additional 666,214 shares during the last quarter. National Bank of Canada FI grew its holdings in shares of Barrick Gold by 9.0% in the first quarter. National Bank of Canada FI now owns 14,887,656 shares of the gold and copper producer’s stock worth $251,929,000 after purchasing an additional 1,231,184 shares during the last quarter. Finally, CIBC Asset Management Inc grew its holdings in shares of Barrick Gold by 3.3% in the second quarter. CIBC Asset Management Inc now owns 14,546,530 shares of the gold and copper producer’s stock worth $242,491,000 after purchasing an additional 461,406 shares during the last quarter. 62.85% of the stock is currently owned by institutional investors.

Barrick Gold Price Performance

Shares of GOLD remained flat at $19.32 during mid-day trading on Friday. 3,207,271 shares of the stock traded hands, compared to its average volume of 21,099,490. Barrick Gold Corp has a 12-month low of $13.76 and a 12-month high of $21.35. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.01 and a quick ratio of 2.31. The company has a market capitalization of $33.77 billion, a P/E ratio of 22.47, a PEG ratio of 0.47 and a beta of 0.55. The firm’s fifty day simple moving average is $20.14 and its 200 day simple moving average is $18.38.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its quarterly earnings data on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.05. Barrick Gold had a net margin of 12.78% and a return on equity of 5.53%. The firm had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the prior year, the company posted $0.19 earnings per share. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, research analysts expect that Barrick Gold Corp will post 1.29 EPS for the current fiscal year.

Barrick Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.40 annualized dividend and a dividend yield of 2.07%. Barrick Gold’s dividend payout ratio (DPR) is currently 46.51%.

Analysts Set New Price Targets

A number of analysts recently weighed in on GOLD shares. Jefferies Financial Group upped their price objective on shares of Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Argus raised shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research note on Thursday, August 29th. CIBC upped their price objective on shares of Barrick Gold from $23.00 to $27.00 and gave the stock an “outperformer” rating in a research note on Wednesday, July 10th. Royal Bank of Canada upped their price objective on shares of Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Finally, Scotiabank upped 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. Three investment 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 stock presently has a consensus rating of “Moderate Buy” and an average target price of $23.50.

About Barrick Gold

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.