Capital International Investors Cuts Stock Holdings in Barrick Gold Corp (NYSE:GOLD)

Capital International Investors lowered its stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 5.4% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 17,257,188 shares of the gold and copper producer’s stock after selling 985,176 shares during the quarter. Capital International Investors’ holdings in Barrick Gold were worth $287,160,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Principal Securities Inc. acquired a new stake in Barrick Gold in the 4th quarter valued at $26,000. EverSource Wealth Advisors LLC boosted its stake in Barrick Gold by 175.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,794 shares of the gold and copper producer’s stock worth $32,000 after purchasing an additional 1,143 shares during the last quarter. Mark Sheptoff Financial Planning LLC acquired a new stake in Barrick Gold during the 4th quarter worth $45,000. Optiver Holding B.V. acquired a new stake in Barrick Gold during the 4th quarter worth $46,000. Finally, Bruce G. Allen Investments LLC boosted its stake in Barrick Gold by 82.4% during the 1st quarter. Bruce G. Allen Investments LLC now owns 3,504 shares of the gold and copper producer’s stock worth $58,000 after purchasing an additional 1,583 shares during the last quarter. Institutional investors and hedge funds own 62.85% of the company’s stock.

Barrick Gold Trading Up 0.3 %

GOLD traded up $0.06 on Friday, hitting $17.78. The company had a trading volume of 21,081,749 shares, compared to its average volume of 21,845,111. The firm has a market cap of $31.16 billion, a P/E ratio of 21.68, a PEG ratio of 0.49 and a beta of 0.51. Barrick Gold Corp has a 1 year low of $13.76 and a 1 year high of $19.45. The company’s fifty day moving average price is $17.25 and its 200 day moving average price is $16.51. 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 (NYSE:GOLD) (TSE:ABX) last issued its quarterly earnings data on Wednesday, May 1st. The gold and copper producer reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.04. The firm had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.74 billion. Barrick Gold had a net margin of 12.58% and a return on equity of 4.88%. Barrick Gold’s revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.14 EPS. As a group, equities analysts expect that Barrick Gold Corp will post 1.16 earnings per share for the current year.

Barrick Gold Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Friday, May 31st were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend was Friday, May 31st. This is a boost from Barrick Gold’s previous quarterly dividend of $0.07. Barrick Gold’s dividend payout ratio (DPR) is currently 48.78%.

Wall Street Analyst Weigh In

GOLD has been the topic of several recent research reports. BMO Capital Markets lowered their target price on shares of Barrick Gold from $27.00 to $26.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 17th. National Bank Financial reiterated a “sector perform overweight” rating on shares of Barrick Gold in a report on Monday, April 8th. Jefferies Financial Group lifted their price target on Barrick Gold from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, July 12th. Finally, CIBC lifted their price target on Barrick Gold from $23.00 to $27.00 and gave the stock an “outperformer” rating in a report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $22.20.

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.