Blair William & Co. IL Sells 8,031 Shares of Barrick Gold Corp (NYSE:GOLD)

Blair William & Co. IL reduced its stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 6.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 113,806 shares of the gold and copper producer’s stock after selling 8,031 shares during the quarter. Blair William & Co. IL’s holdings in Barrick Gold were worth $1,764,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Van ECK Associates Corp raised its stake in Barrick Gold by 2.1% during the fourth quarter. Van ECK Associates Corp now owns 76,299,834 shares of the gold and copper producer’s stock valued at $1,182,641,000 after buying an additional 1,563,361 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Barrick Gold by 2.7% in the 3rd quarter. Wellington Management Group LLP now owns 54,712,508 shares of the gold and copper producer’s stock worth $1,088,484,000 after purchasing an additional 1,458,084 shares during the last quarter. Ruffer LLP boosted its stake in Barrick Gold by 14.8% in the 4th quarter. Ruffer LLP now owns 10,269,848 shares of the gold and copper producer’s stock worth $159,180,000 after purchasing an additional 1,325,119 shares in the last quarter. Vanguard Group Inc. increased its stake in Barrick Gold by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 68,358,533 shares of the gold and copper producer’s stock valued at $1,060,036,000 after purchasing an additional 1,195,585 shares in the last quarter. Finally, Mufg Securities Canada LTD. increased its stake in Barrick Gold by 71.6% during the 4th quarter. Mufg Securities Canada LTD. now owns 2,669,327 shares of the gold and copper producer’s stock valued at $41,365,000 after purchasing an additional 1,113,748 shares in the last quarter. Hedge funds and other institutional investors own 62.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GOLD. UBS Group upgraded shares of Barrick Gold from a “neutral” rating to a “buy” rating and set a $22.00 price target on the stock in a report on Wednesday, March 5th. Raymond James lifted their target price on Barrick Gold from $23.00 to $23.50 and gave the stock an “outperform” rating in a report on Monday. Stifel Canada raised Barrick Gold to a “strong-buy” rating in a report on Wednesday, March 19th. Bank of America lowered Barrick Gold from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $21.00 to $18.00 in a research report on Monday, January 27th. Finally, TD Securities dropped their price target on shares of Barrick Gold from $24.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Six research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $23.71.

Barrick Gold Stock Up 1.2 %

GOLD stock opened at $19.67 on Wednesday. The business’s 50-day moving average price is $17.99 and its 200-day moving average price is $18.01. The stock has a market cap of $33.95 billion, a P/E ratio of 16.00, a PEG 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. Barrick Gold Corp has a twelve month low of $15.11 and a twelve month high of $21.35.

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

Barrick Gold announced that its board has approved 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 repurchase up to 3.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Barrick Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend was Friday, February 28th. Barrick Gold’s dividend payout ratio (DPR) is presently 32.52%.

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.