Vontobel Holding Ltd. Lowers Stock Position in Barrick Gold Corp (NYSE:GOLD)

Vontobel Holding Ltd. decreased its holdings in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 69.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 147,530 shares of the gold and copper producer’s stock after selling 333,949 shares during the quarter. Vontobel Holding Ltd.’s holdings in Barrick Gold were worth $2,666,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Wellington Management Group LLP raised its holdings in shares of Barrick Gold by 35.0% in the third quarter. Wellington Management Group LLP now owns 63,551,991 shares of the gold and copper producer’s stock valued at $925,121,000 after buying an additional 16,485,756 shares during the last quarter. Snider Financial Group purchased a new stake in Barrick Gold during the 1st quarter valued at approximately $185,000. BlackRock Inc. lifted its position in Barrick Gold by 13.9% during the 1st quarter. BlackRock Inc. now owns 42,464,736 shares of the gold and copper producer’s stock worth $788,570,000 after acquiring an additional 5,188,456 shares during the period. FMR LLC grew its stake in shares of Barrick Gold by 12.2% in the 3rd quarter. FMR LLC now owns 43,399,480 shares of the gold and copper producer’s stock valued at $631,228,000 after purchasing an additional 4,731,559 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD acquired a new position in shares of Barrick Gold in the first quarter valued at approximately $53,227,000. Institutional investors and hedge funds own 62.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on GOLD shares. Raymond James lowered 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. Jefferies Financial Group initiated coverage on shares of Barrick Gold in a report on Thursday, February 29th. They set a “buy” rating and a $21.00 price target for the company. Royal Bank of Canada restated an “outperform” rating and issued a $18.00 price objective on shares of Barrick Gold in a research report on Monday, March 4th. Sanford C. Bernstein cut Barrick Gold from an “outperform” rating to a “market perform” rating in a research report on Monday, January 8th. Finally, TD Securities reduced their price target on Barrick Gold from $22.00 to $21.00 and set a “buy” rating for the company in a report on Friday, February 16th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $21.48.

Barrick Gold Stock Performance

Shares of GOLD opened at $16.98 on Friday. The company has a 50-day moving average of $15.86 and a two-hundred day moving average of $16.21. The stock has a market cap of $29.81 billion, a P/E ratio of 23.58, a PEG ratio of 1.50 and a beta of 0.58. Barrick Gold Corp has a 12-month low of $13.76 and a 12-month high of $20.75. The company has a current ratio of 3.16, a quick ratio of 2.40 and a debt-to-equity ratio of 0.15.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its quarterly earnings data on Wednesday, February 14th. The gold and copper producer reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.06. The firm had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.13 billion. Barrick Gold had a return on equity of 4.64% and a net margin of 11.16%. During the same period in the previous year, the firm posted $0.13 EPS. As a group, research analysts predict that Barrick Gold Corp will post 0.91 EPS for the current fiscal year.

Barrick Gold Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were paid a dividend of $0.074 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend was Wednesday, February 28th. Barrick Gold’s payout ratio is currently 55.56%.

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.