Barrick Gold Corp (NYSE:GOLD) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC lowered its position in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 10.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,023,629 shares of the gold and copper producer’s stock after selling 232,712 shares during the period. Gabelli Funds LLC owned approximately 0.12% of Barrick Gold worth $31,366,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of GOLD. Crowley Wealth Management Inc. purchased a new position in shares of Barrick Gold during the fourth quarter worth $26,000. First Horizon Advisors Inc. lifted its holdings in shares of Barrick Gold by 619.7% in 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 buying an additional 2,646 shares during the period. Newbridge Financial Services Group Inc. purchased a new stake in shares of Barrick Gold during the 4th quarter worth about $65,000. Exchange Traded Concepts LLC grew its position 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 during the period. Finally, Principal Securities Inc. increased its stake in shares of Barrick Gold by 119.4% in the 4th quarter. Principal Securities Inc. now owns 4,848 shares of the gold and copper producer’s stock valued at $75,000 after purchasing an additional 2,638 shares in the last quarter. Institutional investors and hedge funds own 62.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GOLD. Scotiabank boosted their price objective on Barrick Gold from $20.00 to $22.00 and gave the company a “sector perform” rating in a research report on Monday. Stifel Canada upgraded shares of Barrick Gold to a “strong-buy” rating in a research report on Wednesday, March 19th. UBS Group lifted their target price on shares of Barrick Gold from $22.00 to $25.00 and gave the company a “buy” rating in a research report on Friday. National Bank Financial upgraded shares of Barrick Gold to a “hold” rating in a research report on Friday, March 21st. Finally, TD Securities reduced their target price on Barrick Gold from $24.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $24.21.

Barrick Gold Stock Down 0.8 %

GOLD stock opened at $20.42 on Tuesday. The firm has a market cap of $35.11 billion, a PE ratio of 16.60, a PEG ratio of 0.44 and a beta of 0.55. Barrick Gold Corp has a one year low of $15.11 and a one year high of $21.35. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.15 and a current ratio of 2.89. The firm’s 50 day moving average price is $18.55 and its 200-day moving average price is $17.90.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its quarterly 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 return on equity of 6.76% and a net margin of 16.59%. On average, equities research analysts anticipate that Barrick Gold Corp will post 1.47 EPS for the current year.

Barrick Gold announced that its Board of Directors has initiated a share repurchase plan 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 buy up to 3.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Barrick Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were issued a $0.10 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.40 annualized dividend and a dividend yield of 1.96%. Barrick Gold’s dividend payout ratio is currently 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.