River Global Investors LLP Sells 62,830 Shares of Barrick Gold Corp (NYSE:GOLD)

River Global Investors LLP lowered its stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 25.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 187,899 shares of the gold and copper producer’s stock after selling 62,830 shares during the period. River Global Investors LLP’s holdings in Barrick Gold were worth $2,911,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Moors & Cabot Inc. grew its stake in Barrick Gold by 0.9% during the third quarter. Moors & Cabot Inc. now owns 64,085 shares of the gold and copper producer’s stock worth $1,275,000 after buying an additional 579 shares in the last quarter. Chelsea Counsel Co. boosted its position in shares of Barrick Gold by 1.4% during the 3rd quarter. Chelsea Counsel Co. now owns 42,973 shares of the gold and copper producer’s stock worth $855,000 after acquiring an additional 590 shares in the last quarter. Avior Wealth Management LLC increased its stake in Barrick Gold by 24.1% in the third quarter. Avior Wealth Management LLC now owns 3,399 shares of the gold and copper producer’s stock valued at $68,000 after acquiring an additional 659 shares during the last quarter. VisionPoint Advisory Group LLC raised its position in Barrick Gold by 6.7% during the fourth quarter. VisionPoint Advisory Group LLC now owns 14,051 shares of the gold and copper producer’s stock valued at $224,000 after purchasing an additional 880 shares in the last quarter. Finally, Bangor Savings Bank lifted its stake in Barrick Gold by 4.5% during the fourth quarter. Bangor Savings Bank now owns 22,025 shares of the gold and copper producer’s stock worth $341,000 after purchasing an additional 956 shares during the last quarter. Institutional investors and hedge funds own 62.85% of the company’s stock.

Barrick Gold Trading Up 0.8 %

GOLD opened at $18.61 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.89 and a quick ratio of 2.15. Barrick Gold Corp has a fifty-two week low of $15.11 and a fifty-two week high of $21.35. The company’s 50 day moving average price is $16.86 and its two-hundred day moving average price is $18.16. The firm has a market capitalization of $32.13 billion, a price-to-earnings ratio of 15.13, a PEG ratio of 0.44 and a beta of 0.58.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its quarterly earnings data on Wednesday, February 12th. The gold and copper producer reported $0.46 earnings per share for the quarter, hitting the consensus estimate of $0.46. Barrick Gold had a net margin of 16.59% and a return on equity of 6.76%. As a group, research analysts predict that Barrick Gold Corp will post 1.47 earnings per share for the current year.

Barrick Gold announced that its board has authorized a share repurchase plan on Wednesday, February 12th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the gold and copper producer to reacquire up to 3.2% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

Barrick Gold Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.40 annualized dividend and a dividend yield of 2.15%. Barrick Gold’s payout ratio is 32.52%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GOLD. Berenberg Bank lifted their price target on Barrick Gold from $37.00 to $38.00 in a research note on Tuesday, November 26th. Raymond James lowered their target price on Barrick Gold from $25.00 to $24.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Scotiabank increased their target price on shares of Barrick Gold from $19.00 to $20.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 18th. Cibc World Mkts lowered shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, November 25th. Finally, TD Securities dropped their price objective on shares of Barrick Gold from $24.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Barrick Gold has an average rating of “Moderate Buy” and a consensus price target of $23.75.

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.