Zions Bancorporation N.A. Has $235,000 Stake in Barrick Gold Corp (NYSE:GOLD)

Zions Bancorporation N.A. cut its stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 4.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 15,157 shares of the gold and copper producer’s stock after selling 755 shares during the quarter. Zions Bancorporation N.A.’s holdings in Barrick Gold were worth $235,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. lifted its stake in Barrick Gold by 5.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,945,514 shares of the gold and copper producer’s stock valued at $98,469,000 after acquiring an additional 244,057 shares in the last quarter. Raymond James Trust N.A. raised its holdings in shares of Barrick Gold by 22.0% in the third quarter. Raymond James Trust N.A. now owns 21,699 shares of the gold and copper producer’s stock valued at $432,000 after purchasing an additional 3,917 shares during the last quarter. Cerity Partners LLC lifted its position in shares of Barrick Gold by 120.3% during the third quarter. Cerity Partners LLC now owns 93,622 shares of the gold and copper producer’s stock valued at $1,862,000 after purchasing an additional 51,117 shares in the last quarter. Daiwa Securities Group Inc. purchased a new position in Barrick Gold during the third quarter worth about $477,000. Finally, Brown Brothers Harriman & Co. increased its stake in Barrick Gold by 115.8% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 17,267 shares of the gold and copper producer’s stock valued at $343,000 after buying an additional 9,267 shares during the last quarter. Institutional investors own 62.85% of the company’s stock.

Barrick Gold Stock Performance

NYSE GOLD opened at $19.32 on Thursday. The firm has a market cap of $33.33 billion, a P/E ratio of 15.70, a price-to-earnings-growth ratio of 0.44 and a beta of 0.58. The company has a quick ratio of 2.15, a current ratio of 2.89 and a debt-to-equity ratio of 0.14. The company’s 50 day moving average is $17.71 and its 200-day moving average is $18.04. Barrick Gold Corp has a 12-month low of $0.25 and a 12-month high of $21.35.

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

Barrick Gold announced that its Board of Directors has initiated a share repurchase program on Wednesday, February 12th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the gold and copper producer to purchase up to 3.2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Barrick Gold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were paid a $0.10 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.40 annualized dividend and a yield of 2.07%. Barrick Gold’s dividend payout ratio is currently 32.52%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on GOLD. Scotiabank boosted their target price on Barrick Gold from $19.00 to $20.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 18th. Stifel Canada upgraded Barrick Gold to a “strong-buy” rating in a research note on Wednesday, March 19th. Raymond James lowered their target price on Barrick Gold from $25.00 to $24.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. Bank of America lowered shares of Barrick Gold from a “buy” rating to a “neutral” rating and reduced their price target for the company from $21.00 to $18.00 in a research report on Monday, January 27th. Finally, Citigroup lowered their price objective on shares of Barrick Gold from $23.00 to $17.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Barrick Gold presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.75.

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.