Euro Pacific Asset Management LLC Lowers Holdings in Barrick Gold Corp (NYSE:GOLD)

Euro Pacific Asset Management LLC reduced its position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 0.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,848,230 shares of the gold and copper producer’s stock after selling 4,081 shares during the period. Barrick Gold comprises about 7.1% of Euro Pacific Asset Management LLC’s investment portfolio, making the stock its biggest position. Euro Pacific Asset Management LLC’s holdings in Barrick Gold were worth $33,385,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Addenda Capital Inc. increased its holdings in shares of Barrick Gold by 88.1% during the fourth quarter. Addenda Capital Inc. now owns 3,105,335 shares of the gold and copper producer’s stock worth $56,176,000 after buying an additional 1,454,220 shares in the last quarter. Cheyne Capital Management UK LLP acquired a new position in shares of Barrick Gold in the 3rd quarter worth approximately $2,910,000. Klein Pavlis & Peasley Financial Inc. bought a new stake in Barrick Gold during the 4th quarter worth approximately $1,331,000. DAVENPORT & Co LLC increased its holdings in Barrick Gold by 17.9% during the 4th quarter. DAVENPORT & Co LLC now owns 73,627 shares of the gold and copper producer’s stock valued at $1,332,000 after purchasing an additional 11,166 shares in the last quarter. Finally, Gateway Investment Advisers LLC raised its position in Barrick Gold by 204.2% in the 4th quarter. Gateway Investment Advisers LLC now owns 249,017 shares of the gold and copper producer’s stock valued at $4,505,000 after purchasing an additional 167,145 shares during the last quarter. 62.85% of the stock is owned by institutional investors.

Barrick Gold Trading Up 1.6 %

Shares of GOLD stock traded up $0.27 during trading hours on Thursday, reaching $16.97. The company had a trading volume of 10,974,175 shares, compared to its average volume of 22,562,992. Barrick Gold Corp has a 1-year low of $13.76 and a 1-year high of $20.75. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.16 and a quick ratio of 2.40. The firm has a market cap of $29.79 billion, a price-to-earnings ratio of 23.19, a P/E/G ratio of 1.50 and a beta of 0.58. The company has a 50 day moving average of $15.82 and a 200 day moving average of $16.20.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its earnings results on Wednesday, February 14th. The gold and copper producer reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.06. The firm had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.13 billion. Barrick Gold had a return on equity of 4.64% and a net margin of 11.16%. During the same quarter in the prior year, the firm posted $0.13 earnings per share. On average, equities research analysts anticipate that Barrick Gold Corp will post 0.91 EPS for the current year.

Barrick Gold Cuts Dividend

The company 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 annualized dividend and a yield of 1.74%. The ex-dividend date was Wednesday, February 28th. Barrick Gold’s payout ratio is 55.56%.

Analyst Ratings Changes

Several analysts have recently commented on GOLD shares. BMO Capital Markets decreased their target price on Barrick Gold from $27.00 to $26.00 and set an “outperform” rating on the stock in a report on Wednesday. Argus reissued a “hold” rating on shares of Barrick Gold in a report on Monday, February 26th. TD Securities lowered their price objective on shares of Barrick Gold from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Friday, February 16th. Scotiabank reduced their target price on shares of Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, February 20th. Finally, CIBC lowered their price target on shares of Barrick Gold from $27.00 to $23.00 and set an “outperform” rating for the company in a report on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Barrick Gold presently has a consensus rating of “Moderate Buy” and an average target price of $22.18.

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.