Barrick Gold Corp (NYSE:GOLD) Shares Sold by ING Groep NV

ING Groep NV reduced its position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 9.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 233,229 shares of the gold and copper producer’s stock after selling 24,061 shares during the period. ING Groep NV’s holdings in Barrick Gold were worth $3,615,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of GOLD. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Barrick Gold by 221.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,027,811 shares of the gold and copper producer’s stock valued at $199,427,000 after acquiring an additional 6,904,934 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Barrick Gold by 33.3% during the third quarter. The Manufacturers Life Insurance Company now owns 11,431,497 shares of the gold and copper producer’s stock worth $227,524,000 after purchasing an additional 2,854,055 shares during the period. Van ECK Associates Corp lifted its holdings in shares of 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 purchasing an additional 1,563,361 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Barrick Gold by 2.7% during the third quarter. Wellington Management Group LLP now owns 54,712,508 shares of the gold and copper producer’s stock valued at $1,088,484,000 after purchasing an additional 1,458,084 shares during the last quarter. Finally, Quadrature Capital Ltd acquired a new position in shares of Barrick Gold in the 3rd quarter valued at $20,379,000. 62.85% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

GOLD has been the topic of several recent analyst reports. TD Securities cut 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. Berenberg Bank boosted their price target on shares of Barrick Gold from $37.00 to $38.00 in a report on Tuesday, November 26th. CIBC lowered shares of Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research note on Monday, November 25th. UBS Group downgraded shares of Barrick Gold from a “buy” rating to a “neutral” rating and cut their target price for the company from $23.00 to $22.00 in a research note on Wednesday, October 30th. Finally, Bank of America lowered Barrick Gold from a “buy” rating to a “neutral” rating and reduced their target price for the company from $21.00 to $18.00 in a report on Monday, January 27th. Six 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 company presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.75.

Barrick Gold Price Performance

GOLD opened at $18.31 on Friday. The stock has a fifty day moving average price of $16.38 and a 200 day moving average price of $18.18. The company has a current ratio of 2.89, a quick ratio of 2.15 and a debt-to-equity ratio of 0.14. Barrick Gold Corp has a 1 year low of $14.27 and a 1 year high of $21.35. The stock has a market cap of $31.61 billion, a price-to-earnings ratio of 14.88, a PEG ratio of 0.44 and a beta of 0.55.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its quarterly earnings results on Wednesday, February 12th. The gold and copper producer reported $0.46 earnings per share (EPS) 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%. Analysts forecast that Barrick Gold Corp will post 1.47 EPS for the current fiscal year.

Barrick Gold Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend is Friday, February 28th. Barrick Gold’s dividend payout ratio is 32.52%.

Barrick Gold announced that its board has initiated a stock repurchase plan on Wednesday, February 12th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the gold and copper producer to reacquire up to 3.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

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.