Regal Partners Ltd Trims Position in Barrick Gold Corp (NYSE:GOLD)

Regal Partners Ltd trimmed its holdings in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 12.3% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 1,345,561 shares of the gold and copper producer’s stock after selling 188,664 shares during the period. Barrick Gold accounts for approximately 2.4% of Regal Partners Ltd’s portfolio, making the stock its 12th largest position. Regal Partners Ltd owned about 0.08% of Barrick Gold worth $26,763,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ritholtz Wealth Management lifted its holdings in Barrick Gold by 2.8% in the third quarter. Ritholtz Wealth Management now owns 18,163 shares of the gold and copper producer’s stock valued at $361,000 after acquiring an additional 502 shares during the period. Greenleaf Trust grew its holdings in shares of Barrick Gold by 2.1% in the 3rd quarter. Greenleaf Trust now owns 25,659 shares of the gold and copper producer’s stock worth $510,000 after acquiring an additional 540 shares during the period. Silverlake Wealth Management LLC grew its holdings in shares of Barrick Gold by 1.3% in the 3rd quarter. Silverlake Wealth Management LLC now owns 49,890 shares of the gold and copper producer’s stock worth $992,000 after acquiring an additional 628 shares during the period. Whitener Capital Management Inc. grew its holdings in shares of Barrick Gold by 0.9% in the 3rd quarter. Whitener Capital Management Inc. now owns 73,185 shares of the gold and copper producer’s stock worth $1,456,000 after acquiring an additional 675 shares during the period. Finally, apricus wealth LLC grew its holdings in Barrick Gold by 0.6% during the 3rd quarter. apricus wealth LLC now owns 112,850 shares of the gold and copper producer’s stock valued at $2,245,000 after buying an additional 710 shares during the last quarter. 62.85% of the stock is owned by hedge funds and other institutional investors.

Barrick Gold Trading Down 1.2 %

Shares of GOLD opened at $16.81 on Thursday. The company has a current ratio of 2.65, a quick ratio of 2.06 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $29.38 billion, a P/E ratio of 18.08, a price-to-earnings-growth ratio of 0.40 and a beta of 0.56. The stock’s fifty day simple moving average is $19.84 and its 200 day simple moving average is $18.49. Barrick Gold Corp has a twelve month low of $13.76 and a twelve month high of $21.35.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its quarterly earnings data 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 company had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same period last year, the company posted $0.19 earnings per share. The firm’s revenue was up 11.6% compared to the same quarter last year. On average, equities research analysts forecast that Barrick Gold Corp will post 1.29 earnings per share for the current year.

Barrick Gold Dividend Announcement

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

Analysts Set New Price Targets

GOLD has been the topic of a number of analyst reports. UBS Group cut Barrick Gold from a “buy” rating to a “neutral” rating and lowered their target price for the company from $23.00 to $22.00 in a report on Wednesday, October 30th. Raymond James lowered their target price on Barrick Gold from $26.50 to $26.00 and set an “outperform” rating on the stock in a report on Thursday, September 26th. Scotiabank lowered their target price on Barrick Gold from $25.00 to $24.00 and set a “sector outperform” rating on the stock in a report on Friday, November 8th. Argus upgraded Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a report on Thursday, August 29th. Finally, TD Securities lowered their target price on Barrick Gold from $27.00 to $26.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Barrick Gold currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.90.

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.