Plancorp LLC Lowers Position in Barrick Gold Corp (NYSE:GOLD)

Plancorp LLC cut its stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 4.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 260,247 shares of the gold and copper producer’s stock after selling 12,780 shares during the period. Plancorp LLC’s holdings in Barrick Gold were worth $4,034,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of GOLD. First Horizon Advisors Inc. lifted its holdings in Barrick Gold by 619.7% in the fourth quarter. First Horizon Advisors Inc. now owns 3,073 shares of the gold and copper producer’s stock worth $48,000 after buying an additional 2,646 shares during the period. BNP Paribas lifted its holdings in shares of Barrick Gold by 221.7% during the third quarter. BNP Paribas now owns 3,066 shares of the gold and copper producer’s stock valued at $62,000 after purchasing an additional 2,113 shares during the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of Barrick Gold by 196.9% during the fourth quarter. Exchange Traded Concepts LLC now owns 4,178 shares of the gold and copper producer’s stock valued at $65,000 after purchasing an additional 2,771 shares during the last quarter. Newbridge Financial Services Group Inc. purchased a new position in shares of Barrick Gold during the fourth quarter valued at approximately $65,000. Finally, Avior Wealth Management LLC lifted its holdings in shares of Barrick Gold by 24.1% during the third quarter. Avior Wealth Management LLC now owns 3,399 shares of the gold and copper producer’s stock valued at $68,000 after purchasing an additional 659 shares during the last quarter. 62.85% of the stock is currently owned by hedge funds and other institutional investors.

Barrick Gold Trading Down 2.2 %

NYSE:GOLD opened at $18.86 on Friday. 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 12 month low of $0.25 and a 12 month high of $21.35. The company has a market cap of $32.54 billion, a PE ratio of 15.33, a price-to-earnings-growth ratio of 0.44 and a beta of 0.58. The company has a 50 day simple moving average of $17.50 and a two-hundred day simple moving average of $18.05.

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

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

Barrick Gold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend was Friday, February 28th. Barrick Gold’s dividend payout ratio (DPR) is presently 32.52%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on GOLD shares. TD Securities lowered their target price on shares of Barrick Gold from $24.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Raymond James lowered their target price 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. UBS Group upgraded shares of Barrick Gold from a “neutral” rating to a “buy” rating and set a $22.00 target price for the company in a report on Wednesday, March 5th. Stifel Canada upgraded shares of Barrick Gold to a “strong-buy” rating in a report on Wednesday. Finally, CIBC lowered shares of Barrick Gold from a “sector outperform” rating to a “neutral” rating in a report on Monday, November 25th. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $23.75.

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.