SVB Wealth LLC Sells 729 Shares of Barrick Gold Corp (NYSE:GOLD)

SVB Wealth LLC cut its position in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 5.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,706 shares of the gold and copper producer’s stock after selling 729 shares during the quarter. SVB Wealth LLC’s holdings in Barrick Gold were worth $212,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Bruce G. Allen Investments LLC acquired a new stake in shares of Barrick Gold in the fourth quarter valued at about $35,000. Cary Street Partners Investment Advisory LLC increased its stake in shares of Barrick Gold by 41.1% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 3,919 shares of the gold and copper producer’s stock valued at $57,000 after buying an additional 1,142 shares during the period. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Barrick Gold in the fourth quarter valued at about $61,000. Headlands Technologies LLC acquired a new stake in shares of Barrick Gold in the third quarter valued at about $75,000. Finally, Fifth Third Bancorp increased its stake in shares of Barrick Gold by 13.1% in the third quarter. Fifth Third Bancorp now owns 6,067 shares of the gold and copper producer’s stock valued at $88,000 after buying an additional 702 shares during the period. 62.85% of the stock is currently owned by institutional investors.

Barrick Gold Trading Up 1.6 %

Shares of Barrick Gold stock opened at $16.69 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.40 and a current ratio of 3.16. Barrick Gold Corp has a 52 week low of $13.76 and a 52 week high of $20.75. The stock has a 50 day moving average price of $15.99 and a two-hundred day moving average price of $16.28. The stock has a market capitalization of $29.30 billion, a PE ratio of 23.18, a price-to-earnings-growth ratio of 1.59 and a beta of 0.58.

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

Barrick Gold Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a $0.074 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.77%. Barrick Gold’s dividend payout ratio is presently 55.56%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on GOLD. National Bank Financial reissued a “sector perform overweight” rating on shares of Barrick Gold in a research note on Monday, April 8th. Argus reissued a “hold” rating on shares of Barrick Gold in a research note on Monday, February 26th. Raymond James decreased their target price on Barrick Gold from $24.00 to $23.00 and set an “outperform” rating for the company in a research note on Thursday, February 15th. TD Securities decreased their target price on Barrick Gold from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Friday, February 16th. Finally, Scotiabank decreased their target price on Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating for the company in a research note on Tuesday, February 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $20.06.

Barrick Gold Company 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.