Barrick Gold Corp (NYSE:GOLD) Shares Sold by Invesco Ltd.

Invesco Ltd. lessened its stake in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 39.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,852,271 shares of the gold and copper producer’s stock after selling 5,858,660 shares during the quarter. Invesco Ltd.’s holdings in Barrick Gold were worth $137,210,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. VisionPoint Advisory Group LLC increased its position in shares of Barrick Gold by 6.7% during the 4th quarter. VisionPoint Advisory Group LLC now owns 14,051 shares of the gold and copper producer’s stock valued at $224,000 after purchasing an additional 880 shares during the period. Bangor Savings Bank boosted its stake in Barrick Gold by 4.5% during the fourth quarter. Bangor Savings Bank now owns 22,025 shares of the gold and copper producer’s stock valued at $341,000 after buying an additional 956 shares in the last quarter. Confluence Investment Management LLC grew its holdings in Barrick Gold by 3.4% during the fourth quarter. Confluence Investment Management LLC now owns 29,751 shares of the gold and copper producer’s stock worth $461,000 after acquiring an additional 974 shares during the period. Mesirow Financial Investment Management Inc. raised its position in Barrick Gold by 3.5% in the fourth quarter. Mesirow Financial Investment Management Inc. now owns 30,510 shares of the gold and copper producer’s stock worth $473,000 after acquiring an additional 1,035 shares in the last quarter. Finally, M&T Bank Corp boosted its position in shares of Barrick Gold by 2.6% during the 4th quarter. M&T Bank Corp now owns 46,320 shares of the gold and copper producer’s stock valued at $718,000 after purchasing an additional 1,179 shares in the last quarter. Institutional investors own 62.85% of the company’s stock.

Analysts Set New Price Targets

GOLD has been the topic of a number of research reports. National Bank Financial upgraded shares of Barrick Gold to a “hold” rating in a report on Friday, March 21st. Citigroup cut their price objective on Barrick Gold from $21.00 to $17.00 and set a “neutral” rating for the company in a research report on Monday, March 31st. StockNews.com upgraded Barrick Gold from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 5th. Raymond James upped their target price on Barrick Gold from $23.00 to $23.50 and gave the company an “outperform” rating in a report on Monday, March 31st. Finally, TD Securities dropped their price target on Barrick Gold from $24.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Six analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $24.04.

Barrick Gold Stock Performance

Shares of GOLD opened at $20.59 on Friday. The company has a market capitalization of $35.41 billion, a PE ratio of 16.74, a PEG ratio of 0.44 and a beta of 0.55. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.15 and a current ratio of 2.89. The company’s 50 day moving average price is $18.49 and its 200 day moving average price is $17.92. Barrick Gold Corp has a 52 week low of $15.11 and a 52 week high of $21.35.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its quarterly earnings results on Wednesday, February 12th. The gold and copper producer reported $0.46 EPS for the quarter, meeting the consensus estimate of $0.46. Barrick Gold had a net margin of 16.59% and a return on equity of 6.76%. Research analysts expect that Barrick Gold Corp will post 1.47 EPS for the current fiscal year.

Barrick Gold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend was Friday, February 28th. Barrick Gold’s dividend payout ratio (DPR) is presently 32.52%.

Barrick Gold declared that its board has approved a share repurchase program on Wednesday, February 12th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the gold and copper producer to buy up to 3.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

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.