Highland Capital Management LLC Sells 900 Shares of Barrick Gold Corp (NYSE:GOLD)

Highland Capital Management LLC lessened its stake in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 1.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 45,350 shares of the gold and copper producer’s stock after selling 900 shares during the period. Highland Capital Management LLC’s holdings in Barrick Gold were worth $820,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cheyne Capital Management UK LLP bought a new position in shares of Barrick Gold during the 3rd quarter valued at about $2,910,000. Klein Pavlis & Peasley Financial Inc. bought a new position in shares of Barrick Gold in the 4th quarter valued at about $1,331,000. Gateway Investment Advisers LLC lifted its holdings in shares of Barrick Gold by 204.2% in the 4th quarter. Gateway Investment Advisers LLC now owns 249,017 shares of the gold and copper producer’s stock valued at $4,505,000 after acquiring an additional 167,145 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Barrick Gold by 53.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 524,618 shares of the gold and copper producer’s stock valued at $7,633,000 after acquiring an additional 183,076 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in shares of Barrick Gold by 10.9% in the 3rd quarter. Mackenzie Financial Corp now owns 17,995,217 shares of the gold and copper producer’s stock valued at $255,406,000 after acquiring an additional 1,769,110 shares during the last quarter. Institutional investors own 62.85% of the company’s stock.

Barrick Gold Trading Up 4.4 %

NYSE:GOLD opened at $16.21 on Thursday. Barrick Gold Corp has a 12 month low of $13.76 and a 12 month high of $20.75. The firm has a fifty day simple moving average of $15.26 and a 200-day simple moving average of $16.04. The company has a current ratio of 3.16, a quick ratio of 2.40 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $28.46 billion, a P/E ratio of 22.51, a PEG ratio of 1.21 and a beta of 0.57.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its earnings results on Wednesday, February 14th. The gold and copper producer reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.06. The company had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.13 billion. Barrick Gold had a net margin of 11.16% and a return on equity of 4.64%. During the same period in the previous year, the firm posted $0.13 earnings per share. On average, equities research analysts anticipate that Barrick Gold Corp will post 0.9 earnings per share for the current year.

Barrick Gold Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were issued a $0.074 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.30 dividend on an annualized basis and a yield of 1.83%. Barrick Gold’s payout ratio is 55.56%.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Scotiabank lowered their price target on shares of Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating for the company in a report on Tuesday, February 20th. Jefferies Financial Group assumed coverage on shares of Barrick Gold in a report on Thursday, February 29th. They issued a “buy” rating and a $21.00 price target for the company. Sanford C. Bernstein downgraded shares of Barrick Gold from an “outperform” rating to a “market perform” rating in a report on Monday, January 8th. Raymond James reduced their price objective on shares of Barrick Gold from $24.00 to $23.00 and set an “outperform” rating on the stock in a research report on Thursday, February 15th. Finally, StockNews.com raised shares of Barrick Gold from a “hold” rating to a “buy” rating in a research report on Wednesday, February 21st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Barrick Gold presently has a consensus rating of “Moderate Buy” and an average target price of $22.05.

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.