Lansdowne Partners UK LLP Has $560,000 Stock Holdings in Barrick Gold Corp (NYSE:GOLD)

Lansdowne Partners UK LLP cut its position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 40.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,122 shares of the gold and copper producer’s stock after selling 24,552 shares during the period. Barrick Gold accounts for about 0.0% of Lansdowne Partners UK LLP’s investment portfolio, making the stock its 21st largest position. Lansdowne Partners UK LLP’s holdings in Barrick Gold were worth $560,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Crowley Wealth Management Inc. bought a new stake in shares of Barrick Gold during the 4th quarter worth about $26,000. First Horizon Advisors Inc. boosted its position in Barrick Gold by 619.7% during the fourth quarter. First Horizon Advisors Inc. now owns 3,073 shares of the gold and copper producer’s stock worth $48,000 after purchasing an additional 2,646 shares during the period. Exchange Traded Concepts LLC grew its holdings in Barrick Gold by 196.9% during the fourth quarter. Exchange Traded Concepts LLC now owns 4,178 shares of the gold and copper producer’s stock valued at $65,000 after purchasing an additional 2,771 shares during the last quarter. Newbridge Financial Services Group Inc. bought a new position in shares of Barrick Gold in the fourth quarter valued at approximately $65,000. Finally, Principal Securities Inc. lifted its stake in shares of Barrick Gold by 119.4% in the fourth quarter. Principal Securities Inc. now owns 4,848 shares of the gold and copper producer’s stock worth $75,000 after buying an additional 2,638 shares during the last quarter. 62.85% of the stock is currently owned by institutional investors and hedge funds.

Barrick Gold Stock Up 7.0 %

Shares of GOLD stock opened at $20.59 on Friday. The stock has a market cap 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 debt-to-equity ratio of 0.14, a current ratio of 2.89 and a quick ratio of 2.15. The stock has a fifty day moving average price of $18.49 and a 200 day moving average price of $17.92. Barrick Gold Corp has a one year low of $15.11 and a one year high of $21.35.

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

Barrick Gold Dividend Announcement

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

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

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Scotiabank raised their target price on shares of Barrick Gold from $19.00 to $20.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 18th. Bank of America lowered Barrick Gold from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $21.00 to $18.00 in a research note on Monday, January 27th. National Bankshares reissued an “outperform” rating on shares of Barrick Gold in a research report on Wednesday, April 2nd. Royal Bank of Canada raised their target price on Barrick Gold from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Friday, April 4th. Finally, UBS Group upped their price target on Barrick Gold from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Friday. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Barrick Gold presently has an average rating of “Moderate Buy” and a consensus target price of $24.04.

Barrick Gold 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.