Laird Norton Wetherby Wealth Management LLC Sells 567 Shares of Barrick Gold Corp (NYSE:B)

Laird Norton Wetherby Wealth Management LLC lowered its position in shares of Barrick Gold Corp (NYSE:B) (TSE:ABX) by 2.2% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 25,453 shares of the gold and copper producer’s stock after selling 567 shares during the quarter. Laird Norton Wetherby Wealth Management LLC’s holdings in Barrick Gold were worth $395,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of B. Van ECK Associates Corp lifted its stake in shares of Barrick Gold by 2.1% in the 4th quarter. Van ECK Associates Corp now owns 76,299,834 shares of the gold and copper producer’s stock valued at $1,182,641,000 after acquiring an additional 1,563,361 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Barrick Gold by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 68,358,533 shares of the gold and copper producer’s stock worth $1,060,036,000 after purchasing an additional 1,195,585 shares in the last quarter. Wellington Management Group LLP raised its position in Barrick Gold by 17.5% in the 4th quarter. Wellington Management Group LLP now owns 64,310,800 shares of the gold and copper producer’s stock valued at $996,802,000 after buying an additional 9,598,292 shares during the last quarter. Capital International Investors raised its position in Barrick Gold by 136.1% in the 4th quarter. Capital International Investors now owns 33,293,792 shares of the gold and copper producer’s stock valued at $516,055,000 after buying an additional 19,189,830 shares during the last quarter. Finally, Amundi increased its position in shares of Barrick Gold by 1.7% during the 4th quarter. Amundi now owns 14,120,278 shares of the gold and copper producer’s stock valued at $223,665,000 after purchasing an additional 236,116 shares during the last quarter. Institutional investors own 62.85% of the company’s stock.

Barrick Gold Stock Up 1.1%

B stock opened at $17.82 on Friday. 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 business’s 50-day moving average is $19.06 and its two-hundred day moving average is $17.77. The company has a market cap of $30.64 billion, a price-to-earnings ratio of 14.49, a P/E/G ratio of 0.44 and a beta of 0.25. Barrick Gold Corp has a fifty-two week low of $17.48 and a fifty-two week high of $47.50.

Barrick Gold (NYSE:B) (TSE:ABX) last released its earnings results on Wednesday, May 7th. The gold and copper producer reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.06. Barrick Gold had a return on equity of 6.76% and a net margin of 16.59%. The firm had revenue of $3 billion during the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter last year, the business posted $0.19 earnings per share. The firm’s revenue was up 13.9% on a year-over-year basis. As a group, analysts forecast that Barrick Gold Corp will post 1.47 earnings per share for the current year.

Barrick Gold declared that its board has initiated a share buyback plan on Wednesday, February 12th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the gold and copper producer to buy up to 3.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Barrick Gold Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend is Friday, May 30th. Barrick Gold’s dividend payout ratio (DPR) is 30.08%.

Analyst Upgrades and Downgrades

B has been the subject of several recent research reports. National Bank Financial raised Barrick Gold to a “hold” rating in a report on Friday, March 21st. StockNews.com assumed coverage on Barrick Gold in a research report on Monday. They issued a “sell” rating for the company. TD Securities lowered their price objective on Barrick Gold from $24.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Citigroup reduced their target price on Barrick Gold from $21.00 to $17.00 and set a “neutral” rating on the stock in a research note on Monday, March 31st. Finally, Scotiabank upped their price target on Barrick Gold from $20.00 to $22.00 and gave the stock a “sector perform” rating in a research note on Monday, April 14th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $24.05.

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.