Insight 2811 Inc. Decreases Stock Position in Barrick Gold Corp (NYSE:GOLD)

Insight 2811 Inc. cut its stake in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 4.1% in the 4th quarter, HoldingsChannel reports. The fund owned 36,872 shares of the gold and copper producer’s stock after selling 1,596 shares during the quarter. Insight 2811 Inc.’s holdings in Barrick Gold were worth $572,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Crowley Wealth Management Inc. bought a new stake in Barrick Gold in the 4th quarter worth $26,000. BNP Paribas grew its stake in shares of Barrick Gold by 221.7% in the third 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 during the last quarter. First Horizon Advisors Inc. grew its stake in shares of 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 purchasing an additional 2,646 shares during the last quarter. Avior Wealth Management LLC increased its holdings in 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 purchasing an additional 659 shares during the period. Finally, Newbridge Financial Services Group Inc. bought a new position in Barrick Gold during the 4th quarter valued at approximately $65,000. 62.85% of the stock is currently owned by hedge funds and other institutional investors.

Barrick Gold Stock Up 0.2 %

Shares of Barrick Gold stock opened at $18.91 on Tuesday. Barrick Gold Corp has a twelve month low of $0.25 and a twelve month high of $21.35. The company has a quick ratio of 2.15, a current ratio of 2.89 and a debt-to-equity ratio of 0.14. The company’s 50 day moving average is $17.57 and its 200 day moving average is $18.03. The company has a market cap of $32.62 billion, a price-to-earnings ratio of 15.37, a price-to-earnings-growth ratio of 0.44 and a beta of 0.58.

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, meeting the consensus estimate of $0.46. Barrick Gold had a return on equity of 6.76% and a net margin of 16.59%. Research analysts anticipate that Barrick Gold Corp will post 1.47 EPS for the current year.

Barrick Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were paid a dividend of $0.10 per share. The ex-dividend date was Friday, February 28th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.12%. Barrick Gold’s dividend payout ratio is currently 32.52%.

Barrick Gold declared that its board has initiated a share repurchase program on Wednesday, February 12th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the gold and copper producer to buy up to 3.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

GOLD has been the topic of several research analyst reports. Cibc World Mkts cut Barrick Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 25th. Stifel Canada raised shares of Barrick Gold to a “strong-buy” rating in a research report on Wednesday, March 19th. UBS Group upgraded shares of Barrick Gold from a “neutral” rating to a “buy” rating and set a $22.00 price objective for the company in a report on Wednesday, March 5th. Bank of America lowered Barrick Gold from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $21.00 to $18.00 in a research report on Monday, January 27th. Finally, CIBC lowered shares of Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research note on Monday, November 25th. Five 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 company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $23.75.

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.