Barrick Gold Corp (NYSE:GOLD) Shares Sold by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd lessened its holdings in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 29.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,574 shares of the gold and copper producer’s stock after selling 1,473 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Barrick Gold were worth $55,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. boosted 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 worth $9,630,000 after acquiring an additional 80,366 shares in the last quarter. Mizuho Markets Americas LLC lifted its holdings in shares of Barrick Gold by 21.7% during the third quarter. Mizuho Markets Americas LLC now owns 2,317,580 shares of the gold and copper producer’s stock worth $46,097,000 after purchasing an additional 413,012 shares during the period. Entropy Technologies LP acquired a new stake in shares of Barrick Gold during the third quarter worth about $3,711,000. Aigen Investment Management LP lifted its holdings in shares of Barrick Gold by 330.5% during the third quarter. Aigen Investment Management LP now owns 99,240 shares of the gold and copper producer’s stock worth $1,974,000 after purchasing an additional 76,186 shares during the period. Finally, Crocodile Capital Partners GmbH lifted its holdings in shares of Barrick Gold by 97.3% during the fourth quarter. Crocodile Capital Partners GmbH now owns 1,460,000 shares of the gold and copper producer’s stock worth $22,630,000 after purchasing an additional 720,000 shares during the period. Institutional investors and hedge funds own 62.85% of the company’s stock.

Barrick Gold Stock Down 0.3 %

Barrick Gold stock opened at $17.74 on Monday. The stock has a market capitalization of $30.63 billion, a PE ratio of 14.42, a price-to-earnings-growth ratio of 0.44 and a beta of 0.55. Barrick Gold Corp has a 12 month low of $14.56 and a 12 month high of $21.35. The business has a 50 day simple moving average of $16.61 and a 200-day simple moving average of $18.19. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.89 and a quick ratio of 2.15.

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

Barrick Gold announced that its Board of Directors has approved a stock buyback program on Wednesday, February 12th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the gold and copper producer to purchase up to 3.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Barrick Gold Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend is Friday, February 28th. Barrick Gold’s payout ratio is 32.52%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on GOLD shares. Bank of America downgraded Barrick Gold from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $21.00 to $18.00 in a report on Monday, January 27th. Raymond James reduced their price target on Barrick Gold from $25.00 to $24.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. TD Securities reduced their price target 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. Scotiabank lifted their price target on Barrick Gold from $19.00 to $20.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 18th. Finally, Cibc World Mkts cut Barrick Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 25th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Barrick Gold currently has an average rating of “Moderate Buy” and a consensus target price of $23.75.

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.