Signaturefd LLC Expands Stake in Barrick Gold Corp

Signaturefd LLC has increased its investment in Barrick Gold Corp (NYSE:GOLD – Free Report) (TSE:ABX) by 3.3% in the third quarter of this year, according to reports from Holdings Channel. This institutional investor now owns a total of 38,925 shares in the gold and copper production company after acquiring an additional 1,229 shares during the quarter. At the conclusion of the recent reporting period, Signaturefd LLC's holdings in Barrick Gold were valued at approximately $774,000.

Other institutional investors have also adjusted their positions in Barrick Gold recently. First Eagle Investment Management LLC raised its stake in the company by 31.6% during the first quarter, bringing its total to 58,820,050 shares—worth around $978,766,000—after acquiring an extra 14,138,639 shares last quarter. EdgePoint Investment Group Inc. also increased its holdings by 38.8% during the first quarter, owning 18,170,814 shares valued at $302,366,000 following an additional purchase of 5,080,510 shares. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp made a significant increase of 4,713.3% in its holdings during the second quarter, taking the total to 4,144,456 shares worth $69,141,000 after an acquisition of 4,058,351 shares. Letko Brosseau & Associates Inc. entered a new position in Barrick Gold during the second quarter, worth $66,820,000. Finally, Equity Investment Corp. grew its ownership by 82.1% during the first quarter, now holding 5,302,815 shares valued at $88,239,000, following the purchase of an additional 2,390,238 shares. Currently, institutional investors possess 62.85% of Barrick Gold’s stock.

Barrick Gold Stock Performance

As of the latest trading session, Barrick Gold shares opened at $20.32. The company holds a market capitalization of $35.62 billion with a price-to-earnings (PE) ratio of 24.78 and a price-to-earnings-growth (PEG) ratio of 0.47. Over the last year, Barrick Gold's stock has seen a low of $13.76 and a high of $21.35. The company's financial ratios include a quick ratio of 2.31, a current ratio of 3.01, and a debt-to-equity ratio of 0.15. The fifty-day simple moving average stands at $20.16, while the two-hundred-day simple moving average is $18.30.

Barrick Gold, which trades on the NYSE under the symbol GOLD and on the Toronto Stock Exchange as ABX, reported its latest earnings on August 12. For the quarter, the company posted an earnings per share (EPS) of $0.32, surpassing the analysts' expectations of $0.27 by $0.05. Barrick Gold recorded a net margin of 12.78% and a return on equity of 5.53%. The firm’s revenue for the quarter reached $3.16 billion, exceeding projections of $3.13 billion and rising 11.6% compared to the same quarter last year. Analysts predict an EPS of 1.27 for Barrick Gold Corp in the current fiscal year.

Dividend Announcement

Barrick Gold also recently declared a quarterly dividend, which was paid on September 16. Shareholders on record as of August 30 received a dividend of $0.10 per share. The ex-dividend date was also August 30. This equates to an annual dividend of $0.40, yielding a dividend yield of 1.97%. The company's dividend payout ratio stands at 48.78%.

Analyst Ratings and Targets

Numerous research firms have provided updates regarding Barrick Gold. Argus upgraded the stock from a "hold" to a "buy" rating, setting a target price of $24.00 in a report released on August 29. Scotiabank raised its price target from $23.00 to $25.00 while maintaining a "sector outperform" rating in its report on August 19. Similarly, Royal Bank of Canada increased its target from $21.00 to $22.00 and assigned an "outperform" rating on September 10. Also, UBS Group lifted its target from $22.00 to $23.00 giving it a "buy" rating, and CIBC raised its target from $23.00 to $27.00, rating it as an "outperformer" back in July. Currently, two analysts have given the stock a "hold" rating while nine have assigned a "buy" rating, leading to a consensus rating of "Moderate Buy" with a target price of $23.60 according to MarketBeat.

About Barrick Gold

Barrick Gold Corporation is recognized as a top producer of gold and copper within the industry. Listed on the New York Stock Exchange as GOLD and on the Toronto Stock Exchange as ABX, the company has expanded its presence significantly since merging with Randgold Resources in January 2019 and later combining its operations in Nevada with those of Newmont Corporation in a joint venture known as Nevada Gold Mines, which Barrick operates predominantly.

investment, stocks, Barrick