Equity Investment Corp Sells 23,833 Shares of Barrick Gold Corp (NYSE:GOLD)

Equity Investment Corp cut its holdings in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 0.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,912,577 shares of the gold and copper producer’s stock after selling 23,833 shares during the quarter. Equity Investment Corp owned approximately 0.17% of Barrick Gold worth $52,689,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Principal Securities Inc. bought a new stake in shares of Barrick Gold in the 4th quarter valued at about $26,000. Bruce G. Allen Investments LLC bought a new position in shares of Barrick Gold in the fourth quarter worth $35,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in Barrick Gold during the fourth quarter worth about $61,000. Cary Street Partners Investment Advisory LLC lifted its position in Barrick Gold by 41.1% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 3,919 shares of the gold and copper producer’s stock worth $57,000 after purchasing an additional 1,142 shares during the period. Finally, Headlands Technologies LLC bought a new stake in Barrick Gold during the third quarter worth about $75,000. 62.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $18.00 price objective on shares of Barrick Gold in a research report on Monday, March 4th. Argus reaffirmed a “hold” rating on shares of Barrick Gold in a research report on Monday, February 26th. TD Securities dropped their target price on shares of Barrick Gold from $22.00 to $21.00 and set a “buy” rating for the company in a report on Friday, February 16th. 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, StockNews.com raised shares of Barrick Gold from a “hold” rating to a “buy” rating in a report on Wednesday, February 21st. One analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.60.

Barrick Gold Trading Up 2.1 %

NYSE:GOLD traded up $0.37 on Friday, reaching $17.89. 21,079,176 shares of the stock traded hands, compared to its average volume of 21,239,848. The firm has a market capitalization of $31.41 billion, a price-to-earnings ratio of 21.82, a price-to-earnings-growth ratio of 1.44 and a beta of 0.59. The company’s 50 day moving average is $16.73 and its 200-day moving average is $16.39. The company has a current ratio of 3.32, a quick ratio of 2.49 and a debt-to-equity ratio of 0.15. Barrick Gold Corp has a 1-year low of $13.76 and a 1-year high of $18.95.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its earnings results on Wednesday, May 1st. The gold and copper producer reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.04. The business had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.74 billion. Barrick Gold had a net margin of 12.58% and a return on equity of 4.88%. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.14 EPS. Equities research analysts anticipate that Barrick Gold Corp will post 1.01 EPS for the current fiscal year.

Barrick Gold Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend is Friday, May 31st. This is an increase from Barrick Gold’s previous quarterly dividend of $0.07. Barrick Gold’s dividend payout ratio is currently 48.78%.

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.