Capital International Sarl Decreases Stake in Barrick Gold Corp (NYSE:GOLD)

Capital International Sarl trimmed its position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 43.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 80,670 shares of the gold and copper producer’s stock after selling 62,053 shares during the period. Capital International Sarl’s holdings in Barrick Gold were worth $1,342,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Principal Securities Inc. purchased a new stake in shares of Barrick Gold in the 4th quarter valued at approximately $26,000. EverSource Wealth Advisors LLC raised its stake in Barrick Gold by 175.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,794 shares of the gold and copper producer’s stock valued at $32,000 after buying an additional 1,143 shares in the last quarter. Mark Sheptoff Financial Planning LLC purchased a new stake in Barrick Gold during the 4th quarter worth about $45,000. Optiver Holding B.V. acquired a new position in shares of Barrick Gold during the 4th quarter worth about $46,000. Finally, Bruce G. Allen Investments LLC boosted its position in shares of Barrick Gold by 82.4% during the 1st quarter. Bruce G. Allen Investments LLC now owns 3,504 shares of the gold and copper producer’s stock worth $58,000 after acquiring an additional 1,583 shares in the last quarter. Institutional investors and hedge funds own 62.85% of the company’s stock.

Wall Street Analyst Weigh In

GOLD has been the subject of a number of research analyst reports. Jefferies Financial Group upped their price target on Barrick Gold from $22.00 to $23.00 and gave the company a “buy” rating in a report on Friday, July 12th. National Bank Financial reaffirmed a “sector perform overweight” rating on shares of Barrick Gold in a research report on Monday, April 8th. CIBC boosted their price target on shares of Barrick Gold from $23.00 to $27.00 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. Finally, BMO Capital Markets dropped their price objective on Barrick Gold from $27.00 to $26.00 and set an “outperform” rating on the stock in a report on Wednesday, April 17th. One analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Barrick Gold presently has a consensus rating of “Moderate Buy” and an average price target of $22.20.

Barrick Gold Stock Performance

GOLD traded up $0.06 during trading on Friday, hitting $17.78. The stock had a trading volume of 21,081,749 shares, compared to its average volume of 21,845,111. The firm has a market capitalization of $31.16 billion, a P/E ratio of 21.68, a PEG ratio of 0.49 and a beta of 0.51. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.49 and a current ratio of 3.32. Barrick Gold Corp has a twelve month low of $13.76 and a twelve month high of $19.45. The company’s 50-day moving average price is $17.25 and its 200 day moving average price is $16.51.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its quarterly earnings results on Wednesday, May 1st. The gold and copper producer reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.04. The firm had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.74 billion. Barrick Gold had a net margin of 12.58% and a return on equity of 4.88%. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.14 earnings per share. On average, equities research analysts forecast that Barrick Gold Corp will post 1.16 EPS for the current fiscal year.

Barrick Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Friday, May 31st were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend was Friday, May 31st. This is a positive change from Barrick Gold’s previous quarterly dividend of $0.07. Barrick Gold’s dividend payout ratio is currently 48.78%.

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.