Silvercrest Asset Management Group LLC Lowers Stock Holdings in Barrick Gold Corp (NYSE:B)

Silvercrest Asset Management Group LLC reduced its position in Barrick Gold Corp (NYSE:B) (TSE:ABX) by 45.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 29,986 shares of the gold and copper producer’s stock after selling 24,814 shares during the period. Silvercrest Asset Management Group LLC’s holdings in Barrick Gold were worth $465,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of B. Recurrent Investment Advisors LLC grew its stake in shares of Barrick Gold by 102.7% during the 4th quarter. Recurrent Investment Advisors LLC now owns 137,861 shares of the gold and copper producer’s stock valued at $2,137,000 after buying an additional 69,852 shares during the period. Nan Shan Life Insurance Co. Ltd. grew its stake in shares of Barrick Gold by 9,389.9% during the 4th quarter. Nan Shan Life Insurance Co. Ltd. now owns 2,776,645 shares of the gold and copper producer’s stock valued at $43,038,000 after buying an additional 2,747,386 shares during the period. Mmbg Investment Advisors CO. purchased a new stake in shares of Barrick Gold during the 4th quarter valued at $671,000. Letko Brosseau & Associates Inc. grew its stake in shares of Barrick Gold by 3.1% during the 4th quarter. Letko Brosseau & Associates Inc. now owns 4,806,500 shares of the gold and copper producer’s stock valued at $74,494,000 after buying an additional 144,425 shares during the period. Finally, Lionshead Wealth Management LLC purchased a new stake in shares of Barrick Gold during the 4th quarter valued at $198,000. 90.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on B shares. Bank of America lowered shares of Barrick Gold from a “buy” rating to a “neutral” rating and reduced their target price for the company from $21.00 to $18.00 in a report on Monday, January 27th. StockNews.com started coverage on shares of Barrick Gold in a report on Monday, May 12th. They set a “sell” rating on the stock. National Bankshares restated an “outperform” rating on shares of Barrick Gold in a report on Wednesday, April 2nd. Citigroup reduced their target price on shares of Barrick Gold from $21.00 to $17.00 and set a “neutral” rating on the stock in a report on Monday, March 31st. Finally, Stifel Canada upgraded shares of Barrick Gold to a “strong-buy” rating in a report on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $24.05.

Barrick Gold Stock Performance

Shares of B stock opened at $18.69 on Wednesday. Barrick Gold Corp has a 12 month low of $17.41 and a 12 month high of $47.50. 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 firm has a market capitalization of $32.14 billion, a P/E ratio of 15.20, a P/E/G ratio of 0.44 and a beta of 0.25. The company’s fifty day moving average price is $19.04 and its two-hundred day moving average price is $17.73.

Barrick Gold (NYSE:B) (TSE:ABX) last issued its quarterly earnings data on Wednesday, May 7th. The gold and copper producer reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.06. Barrick Gold had a net margin of 16.59% and a return on equity of 6.76%. The firm had revenue of $3 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same quarter in the previous year, the business posted $0.19 EPS. The firm’s revenue was up 13.9% compared to the same quarter last year. On average, research analysts anticipate that Barrick Gold Corp will post 1.47 earnings per share for the current fiscal year.

Barrick Gold Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.14%. Barrick Gold’s dividend payout ratio (DPR) is presently 30.08%.

Barrick Gold announced that its Board of Directors has initiated a share repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the gold and copper producer to reacquire up to 3.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

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.