Barrick Gold Corp (NYSE:GOLD) Holdings Trimmed by Intact Investment Management Inc.

Intact Investment Management Inc. trimmed its position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 40.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,468,020 shares of the gold and copper producer’s stock after selling 1,008,990 shares during the period. Intact Investment Management Inc. owned 0.08% of Barrick Gold worth $22,761,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BNP Paribas grew its position in Barrick Gold by 221.7% during the 3rd quarter. BNP Paribas now owns 3,066 shares of the gold and copper producer’s stock worth $62,000 after purchasing an additional 2,113 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in shares of Barrick Gold by 619.7% during the 4th quarter. First Horizon Advisors Inc. now owns 3,073 shares of the gold and copper producer’s stock valued at $48,000 after acquiring an additional 2,646 shares in the last quarter. Avior Wealth Management LLC grew its holdings in shares of Barrick Gold by 24.1% during the 3rd quarter. Avior Wealth Management LLC now owns 3,399 shares of the gold and copper producer’s stock valued at $68,000 after acquiring an additional 659 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new position in shares of Barrick Gold during the 4th quarter valued at $65,000. Finally, Exchange Traded Concepts LLC grew its holdings in shares of Barrick Gold by 196.9% during the 4th quarter. Exchange Traded Concepts LLC now owns 4,178 shares of the gold and copper producer’s stock valued at $65,000 after acquiring an additional 2,771 shares in the last quarter. 62.85% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on GOLD shares. 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. Citigroup decreased their price objective on shares of Barrick Gold from $23.00 to $17.00 and set a “neutral” rating for the company in a report on Friday, December 20th. Raymond James decreased their price objective on shares of Barrick Gold from $25.00 to $24.00 and set an “outperform” rating for the company in a report on Friday, February 7th. CIBC cut shares of Barrick Gold from a “sector outperform” rating to a “neutral” rating in a report on Monday, November 25th. Finally, Cibc World Mkts cut shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, November 25th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $23.75.

Barrick Gold Stock Up 2.1 %

Barrick Gold stock opened at $18.73 on Friday. The firm has a market cap of $32.34 billion, a price-to-earnings ratio of 15.22, a P/E/G ratio of 0.44 and a beta of 0.58. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.89 and a quick ratio of 2.15. Barrick Gold Corp has a fifty-two week low of $15.11 and a fifty-two week high of $21.35. The firm has a fifty day moving average price of $17.09 and a two-hundred day moving average price of $18.10.

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

Barrick Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend is Friday, February 28th. Barrick Gold’s dividend payout ratio is currently 32.52%.

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

Barrick Gold 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.