Schonfeld Strategic Advisors LLC Cuts Stock Holdings in Barrick Gold Corp (NYSE:GOLD)

Schonfeld Strategic Advisors LLC lessened its holdings in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 10.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 29,700 shares of the gold and copper producer’s stock after selling 3,600 shares during the quarter. Schonfeld Strategic Advisors LLC’s holdings in Barrick Gold were worth $460,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of GOLD. Principal Financial Group Inc. raised its position in shares of Barrick Gold by 19.9% in the 3rd 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. Charles Schwab Investment Management Inc. raised its holdings in Barrick Gold by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,073,717 shares of the gold and copper producer’s stock worth $78,637,000 after purchasing an additional 128,203 shares in the last quarter. Crocodile Capital Partners GmbH lifted its position 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 valued at $22,630,000 after buying an additional 720,000 shares during the last quarter. Gateway Investment Advisers LLC boosted its holdings in shares of Barrick Gold by 6.9% in the 4th quarter. Gateway Investment Advisers LLC now owns 278,717 shares of the gold and copper producer’s stock valued at $4,320,000 after buying an additional 17,980 shares in the last quarter. Finally, Smith Group Asset Management LLC purchased a new position in shares of Barrick Gold in the 4th quarter worth approximately $1,240,000. 62.85% of the stock is owned by hedge funds and other institutional investors.

Barrick Gold Price Performance

Shares of GOLD opened at $18.83 on Friday. The business’s 50-day moving average is $19.09 and its two-hundred day moving average is $17.81. The company has a market capitalization of $32.37 billion, a P/E ratio of 15.30, a P/E/G ratio of 0.44 and a beta of 0.25. Barrick Gold Corp has a fifty-two week low of $15.11 and a fifty-two week high of $21.35. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.15 and a current ratio of 2.89.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its quarterly earnings results on Wednesday, May 7th. The gold and copper producer reported $0.35 earnings per share for the quarter, beating 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 company had revenue of $3 billion during the quarter, compared to analysts’ expectations of $3.15 billion. During the same period last year, the business earned $0.19 earnings per share. Barrick Gold’s quarterly revenue was up 13.9% on a year-over-year basis. Research analysts predict that Barrick Gold Corp will post 1.47 earnings per share for the current year.

Barrick Gold declared that its Board of Directors has authorized a share repurchase program on Wednesday, February 12th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the gold and copper producer to buy up to 3.2% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Barrick Gold Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.40 annualized dividend and a yield of 2.12%. Barrick Gold’s dividend payout ratio is presently 32.52%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. BMO Capital Markets assumed coverage on shares of Barrick Gold in a report on Wednesday, April 16th. They issued a “market perform” rating on the stock. National Bankshares reaffirmed an “outperform” rating on shares of Barrick Gold in a research report on Wednesday, April 2nd. Raymond James boosted their price target on 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 increased their price objective on shares of Barrick Gold from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Friday, April 4th. Finally, Bank of America downgraded shares of Barrick Gold from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $21.00 to $18.00 in a research report on Monday, January 27th. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $24.05.

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.