Barrick Gold Corp (NYSE:GOLD) Shares Sold by Fmr LLC

Fmr LLC cut its stake in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 55.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 16,401,420 shares of the gold and copper producer’s stock after selling 20,008,495 shares during the period. Fmr LLC’s holdings in Barrick Gold were worth $254,287,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Principal Financial Group Inc. increased its holdings in Barrick Gold by 19.9% in the third quarter. Principal Financial Group Inc. now owns 483,613 shares of the gold and copper producer’s stock valued at $9,630,000 after buying an additional 80,366 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Barrick Gold by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,073,717 shares of the gold and copper producer’s stock valued at $78,637,000 after acquiring an additional 128,203 shares during the last quarter. Crocodile Capital Partners GmbH raised its position in shares of Barrick Gold by 97.3% during the 4th quarter. Crocodile Capital Partners GmbH now owns 1,460,000 shares of the gold and copper producer’s stock worth $22,630,000 after acquiring an additional 720,000 shares in the last quarter. Legend Financial Advisors Inc. purchased a new stake in Barrick Gold during the fourth quarter worth approximately $700,000. Finally, Gateway Investment Advisers LLC boosted its holdings in Barrick Gold by 6.9% in the fourth quarter. Gateway Investment Advisers LLC now owns 278,717 shares of the gold and copper producer’s stock valued at $4,320,000 after purchasing an additional 17,980 shares in the last quarter. 62.85% of the stock is currently owned by hedge funds and other institutional investors.

Barrick Gold Trading Up 7.0 %

Shares of GOLD stock opened at $20.59 on Friday. The company has a market capitalization of $35.41 billion, a P/E ratio of 16.74, a price-to-earnings-growth ratio of 0.44 and a beta of 0.55. The company has a current ratio of 2.89, a quick ratio of 2.15 and a debt-to-equity ratio of 0.14. The business’s 50 day moving average is $18.49 and its two-hundred day moving average is $17.92. Barrick Gold Corp has a twelve month low of $15.11 and a twelve month high of $21.35.

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

Barrick Gold Dividend Announcement

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. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.94%. Barrick Gold’s dividend payout ratio (DPR) is 32.52%.

Barrick Gold declared that its Board of Directors has initiated a share repurchase program 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 repurchase up to 3.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

A number of analysts have weighed in on GOLD shares. National Bankshares reissued an “outperform” rating on shares of Barrick Gold in a report on Wednesday, April 2nd. Raymond James lifted their price target on shares of Barrick Gold from $23.00 to $23.50 and gave the stock an “outperform” rating in a research note on Monday, March 31st. Royal Bank of Canada upped their price objective on shares of Barrick Gold from $22.00 to $23.00 and gave the company an “outperform” rating in a research note on Friday, April 4th. StockNews.com upgraded Barrick Gold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 5th. Finally, UBS Group upped their target price on Barrick Gold from $22.00 to $25.00 and gave the company a “buy” rating in a research report on Friday. Six equities research 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.04.

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.