Sunbelt Securities Inc. Increases Position in Barrick Gold Corp
Sunbelt Securities Inc. has increased its position in shares of Barrick Gold Corp (NYSE:GOLD – Free Report) (TSE:ABX) by 46.8% in the first quarter. The company disclosed that it now owns 10,040 shares of the gold and copper producer’s stock after purchasing an additional 3,200 shares during the period. At the end of the most recent reporting period, Sunbelt Securities Inc.’s holdings in Barrick Gold were valued at $167,000.
Adding to this, other institutional investors and hedge funds, such as Principal Securities Inc., EverSource Wealth Advisors LLC, Bruce G. Allen Investments LLC, Mark Sheptoff Financial Planning LLC, and Optiver Holding B.V., have also recently bought stakes in Barrick Gold. In total, hedge funds and other institutional investors now own 62.85% of the company’s stock.
Analyst Ratings Changes
Multiple research firms have shared their insights on Barrick Gold. Royal Bank of Canada reiterated an “outperform” rating with a target price of $18.00. BMO Capital Markets lowered the price target to $26.00 with an “outperform” rating. National Bank Financial also reaffirmed a “sector perform overweight” rating. Overall, Barrick Gold has a consensus rating of “Moderate Buy” with a consensus price target of $21.60.
Barrick Gold Price Performance
On Friday, Barrick Gold stock opened at $16.67. The company has a market cap of $29.27 billion and a PE ratio of 20.33. Barrick Gold last reported earnings of $0.19 per share, surpassing analysts’ estimates. The company also recently announced an increased quarterly dividend, now at $0.40 per share on an annualized basis.
Barrick Gold Profile
Barrick Gold Corporation is a leading gold and copper producer, trading under the symbols GOLD and ABX on the NYSE and TSX, respectively. The company’s recent merger with Randgold Resources and joint venture in Nevada Gold Mines with Newmont Corporation have positively impacted its operations and growth.
Further Reading
For more information on Barrick Gold’s institutional ownership and performance, refer to the chart below:
