Barrick Gold Corp (NYSE:GOLD) Shares Sold by Larson Financial Group LLC

Larson Financial Group LLC cut its holdings in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 27.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 19,223 shares of the gold and copper producer’s stock after selling 7,095 shares during the period. Larson Financial Group LLC’s holdings in Barrick Gold were worth $348,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of GOLD. Wellington Management Group LLP increased its holdings in Barrick Gold by 35.0% in the 3rd quarter. Wellington Management Group LLP now owns 63,551,991 shares of the gold and copper producer’s stock worth $925,121,000 after acquiring an additional 16,485,756 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Barrick Gold by 1.6% during the third quarter. Vanguard Group Inc. now owns 62,567,785 shares of the gold and copper producer’s stock worth $910,361,000 after purchasing an additional 956,452 shares in the last quarter. FMR LLC raised its position in shares of Barrick Gold by 12.2% during the 3rd quarter. FMR LLC now owns 43,399,480 shares of the gold and copper producer’s stock worth $631,228,000 after purchasing an additional 4,731,559 shares during the last quarter. Mackenzie Financial Corp raised its position in shares of Barrick Gold by 4.4% during the 4th quarter. Mackenzie Financial Corp now owns 18,783,046 shares of the gold and copper producer’s stock worth $339,524,000 after purchasing an additional 787,829 shares during the last quarter. Finally, Ninety One UK Ltd lifted its stake in Barrick Gold by 13.2% in the 4th quarter. Ninety One UK Ltd now owns 16,022,022 shares of the gold and copper producer’s stock valued at $289,838,000 after buying an additional 1,870,059 shares in the last quarter. Hedge funds and other institutional investors own 62.85% of the company’s stock.

Barrick Gold Trading Up 1.6 %

Shares of GOLD opened at $16.69 on Wednesday. Barrick Gold Corp has a 12-month low of $13.76 and a 12-month high of $20.75. The firm has a market capitalization of $29.30 billion, a P/E ratio of 23.18, a P/E/G ratio of 1.52 and a beta of 0.58. The firm has a 50-day moving average price of $15.99 and a 200 day moving average price of $16.28. 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 posted its quarterly 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 business had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Barrick Gold had a net margin of 11.16% and a return on equity of 4.64%. During the same quarter in the prior year, the company posted $0.13 EPS. Sell-side analysts forecast that Barrick Gold Corp will post 0.9 EPS for the current year.

Barrick Gold Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were paid a dividend of $0.074 per share. The ex-dividend date was Wednesday, February 28th. This represents a $0.30 annualized dividend and a yield of 1.77%. Barrick Gold’s dividend payout ratio (DPR) is 55.56%.

Analyst Ratings Changes

GOLD has been the subject of several research reports. TD Securities cut their price objective 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. Scotiabank dropped their price target on Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating for the company in a research report on Tuesday, February 20th. StockNews.com upgraded Barrick Gold from a “hold” rating to a “buy” rating in a report on Wednesday, February 21st. Raymond James dropped their target price on shares of Barrick Gold from $24.00 to $23.00 and set an “outperform” rating for the company in a report on Thursday, February 15th. Finally, CIBC reduced their target price on shares of Barrick Gold from $27.00 to $23.00 and set an “outperform” rating for the company in a research report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $20.06.

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.