Barrick Gold Corp (NYSE:GOLD) Shares Acquired by Skylands Capital LLC

Skylands Capital LLC raised its stake in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 4.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 423,350 shares of the gold and copper producer’s stock after buying an additional 16,900 shares during the quarter. Skylands Capital LLC’s holdings in Barrick Gold were worth $6,562,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Moors & Cabot Inc. grew its holdings in Barrick Gold by 0.9% during the 3rd quarter. Moors & Cabot Inc. now owns 64,085 shares of the gold and copper producer’s stock valued at $1,275,000 after buying an additional 579 shares during the last quarter. Chelsea Counsel Co. boosted its holdings in shares of Barrick Gold by 1.4% during the third quarter. Chelsea Counsel Co. now owns 42,973 shares of the gold and copper producer’s stock worth $855,000 after purchasing an additional 590 shares during the last quarter. Avior Wealth Management LLC boosted its holdings in shares of Barrick Gold by 24.1% during the third quarter. Avior Wealth Management LLC now owns 3,399 shares of the gold and copper producer’s stock worth $68,000 after purchasing an additional 659 shares during the last quarter. Whitener Capital Management Inc. boosted its holdings in shares of Barrick Gold by 0.9% during the third quarter. Whitener Capital Management Inc. now owns 73,185 shares of the gold and copper producer’s stock worth $1,456,000 after purchasing an additional 675 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its holdings in shares of Barrick Gold by 0.5% during the third quarter. DekaBank Deutsche Girozentrale now owns 147,903 shares of the gold and copper producer’s stock worth $2,953,000 after purchasing an additional 732 shares during the last quarter. Institutional investors and hedge funds own 62.85% of the company’s stock.

Barrick Gold Stock Down 2.7 %

Shares of Barrick Gold stock opened at $18.31 on Monday. The business has a 50-day moving average of $16.38 and a 200-day moving average of $18.20. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.89 and a quick ratio of 2.15. The company has a market capitalization of $31.61 billion, a PE ratio of 14.88, a P/E/G ratio of 0.44 and a beta of 0.55. Barrick Gold Corp has a 1-year low of $14.27 and a 1-year high of $21.35.

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

Barrick Gold declared that its Board of Directors has approved a share buyback plan on Wednesday, February 12th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the gold and copper producer to purchase up to 3.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Barrick Gold Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders 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 dividend on an annualized basis and a yield of 2.19%. Barrick Gold’s payout ratio is currently 32.52%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on GOLD shares. TD Securities decreased their price objective on Barrick Gold from $24.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Scotiabank raised their price objective on Barrick Gold from $19.00 to $20.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 18th. Citigroup cut their target price on Barrick Gold from $23.00 to $17.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th. CIBC lowered Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research report on Monday, November 25th. Finally, Raymond James cut their target price on Barrick Gold from $25.00 to $24.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $23.75.

Barrick Gold Company 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.