Barrick Gold Corp (NYSE:GOLD) Shares Sold by Norden Group LLC

Norden Group LLC decreased its holdings in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 22.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,731 shares of the gold and copper producer’s stock after selling 4,760 shares during the period. Norden Group LLC’s holdings in Barrick Gold were worth $303,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Creative Financial Designs Inc. ADV lifted its holdings in Barrick Gold by 7.1% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 9,100 shares of the gold and copper producer’s stock valued at $165,000 after acquiring an additional 600 shares during the period. Stratos Wealth Partners LTD. boosted its holdings in Barrick Gold by 5.3% during the third quarter. Stratos Wealth Partners LTD. now owns 13,714 shares of the gold and copper producer’s stock worth $200,000 after buying an additional 689 shares in the last quarter. Legacy Wealth Asset Management LLC grew its position in Barrick Gold by 2.9% during the third quarter. Legacy Wealth Asset Management LLC now owns 24,555 shares of the gold and copper producer’s stock worth $357,000 after buying an additional 694 shares during the period. A. D. Beadell Investment Counsel Inc. increased its holdings in Barrick Gold by 1.2% in the fourth quarter. A. D. Beadell Investment Counsel Inc. now owns 59,825 shares of the gold and copper producer’s stock valued at $1,082,000 after buying an additional 700 shares in the last quarter. Finally, Fifth Third Bancorp lifted its position in shares of Barrick Gold by 13.1% during the 3rd quarter. Fifth Third Bancorp now owns 6,067 shares of the gold and copper producer’s stock valued at $88,000 after acquiring an additional 702 shares during the period. 62.85% of the stock is owned by hedge funds and other institutional investors.

Barrick Gold Price Performance

GOLD stock opened at $16.36 on Thursday. The stock has a market capitalization of $28.72 billion, a price-to-earnings ratio of 22.72, a price-to-earnings-growth ratio of 1.53 and a beta of 0.58. The company has a quick ratio of 2.40, a current ratio of 3.16 and a debt-to-equity ratio of 0.15. Barrick Gold Corp has a 52-week low of $13.76 and a 52-week high of $20.75. The stock’s fifty day simple moving average is $16.26 and its 200-day simple moving average is $16.34.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its earnings results on Wednesday, May 1st. The gold and copper producer reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.04. The firm had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.74 billion. Barrick Gold had a return on equity of 4.64% and a net margin of 11.16%. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.14 earnings per share. Equities research analysts expect that Barrick Gold Corp will post 0.95 EPS for the current year.

Barrick Gold Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were given a $0.074 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $0.30 annualized dividend and a dividend yield of 1.81%. Barrick Gold’s dividend payout ratio is presently 55.56%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on GOLD shares. CIBC lowered their price target on Barrick Gold from $27.00 to $23.00 and set an “outperform” rating on the stock in a report on Wednesday, February 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $18.00 price target on shares of Barrick Gold in a research note on Monday, March 4th. Argus restated a “hold” rating on shares of Barrick Gold in a report on Monday, February 26th. National Bank Financial reaffirmed a “sector perform overweight” rating on shares of Barrick Gold in a report on Monday, April 8th. Finally, Scotiabank reduced their target price on Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, February 20th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $20.06.

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.