Mizuho Securities Co. Ltd. Reduces Stock Position in Barrick Gold Corp (NYSE:GOLD)

Mizuho Securities Co. Ltd. cut its holdings in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 4.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,050 shares of the gold and copper producer’s stock after selling 950 shares during the quarter. Barrick Gold makes up approximately 1.1% of Mizuho Securities Co. Ltd.’s holdings, making the stock its 25th largest holding. Mizuho Securities Co. Ltd.’s holdings in Barrick Gold were worth $439,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of GOLD. Saturna Capital Corp increased its holdings in shares of Barrick Gold by 1.0% in the 3rd quarter. Saturna Capital Corp now owns 165,561 shares of the gold and copper producer’s stock valued at $3,293,000 after acquiring an additional 1,561 shares during the last quarter. Aigen Investment Management LP increased its holdings in shares of Barrick Gold by 330.5% in the 3rd quarter. Aigen Investment Management LP now owns 99,240 shares of the gold and copper producer’s stock valued at $1,974,000 after acquiring an additional 76,186 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Barrick Gold by 4.6% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 149,305 shares of the gold and copper producer’s stock valued at $2,970,000 after acquiring an additional 6,499 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd bought a new stake in shares of Barrick Gold in the 3rd quarter valued at approximately $444,000. Finally, Entropy Technologies LP bought a new stake in shares of Barrick Gold in the 3rd quarter valued at approximately $3,711,000. 62.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Scotiabank reduced their price objective on Barrick Gold from $25.00 to $24.00 and set a “sector outperform” rating for the company in a research report on Friday, November 8th. Royal Bank of Canada upped their price objective on Barrick Gold from $21.00 to $22.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Raymond James cut their price objective on Barrick Gold from $26.50 to $26.00 and set an “outperform” rating for the company in a report on Thursday, September 26th. Jefferies Financial Group boosted their target price on Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Finally, Argus raised Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research report on Thursday, August 29th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Barrick Gold has a consensus rating of “Moderate Buy” and an average target price of $23.90.

Barrick Gold Stock Performance

Barrick Gold stock traded down $0.18 during trading hours on Wednesday, hitting $16.84. The stock had a trading volume of 7,872,729 shares, compared to its average volume of 21,310,010. The company has a 50-day moving average of $19.84 and a two-hundred day moving average of $18.49. The company has a quick ratio of 2.06, a current ratio of 2.65 and a debt-to-equity ratio of 0.14. The company has a market cap of $29.44 billion, a PE ratio of 18.11, a price-to-earnings-growth ratio of 0.41 and a beta of 0.56. Barrick Gold Corp has a fifty-two week low of $13.76 and a fifty-two week high of $21.35.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its quarterly earnings results on Monday, August 12th. The gold and copper producer reported $0.32 EPS for the quarter, beating the consensus estimate of $0.27 by $0.05. Barrick Gold had a return on equity of 5.82% and a net margin of 13.19%. The firm had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same quarter in the prior year, the firm posted $0.19 EPS. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. On average, equities research analysts anticipate that Barrick Gold Corp will post 1.29 EPS for the current fiscal year.

Barrick Gold Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a $0.10 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.38%. Barrick Gold’s payout ratio is presently 43.01%.

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.