TD Asset Management Inc Trims Holdings in Barrick Gold Corp (NYSE:GOLD)

TD Asset Management Inc reduced its stake in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 0.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,247,312 shares of the gold and copper producer’s stock after selling 5,010 shares during the quarter. TD Asset Management Inc owned approximately 0.98% of Barrick Gold worth $287,634,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Global Retirement Partners LLC grew its stake in Barrick Gold by 15.3% in the first quarter. Global Retirement Partners LLC now owns 5,434 shares of the gold and copper producer’s stock worth $90,000 after purchasing an additional 721 shares during the period. Edge Wealth Management LLC raised its stake in Barrick Gold by 6.3% during the 1st quarter. Edge Wealth Management LLC now owns 12,255 shares of the gold and copper producer’s stock valued at $204,000 after buying an additional 725 shares during the last quarter. Greenleaf Trust increased its position in Barrick Gold by 3.5% during the first quarter. Greenleaf Trust now owns 25,119 shares of the gold and copper producer’s stock valued at $418,000 after acquiring an additional 838 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co increased its position in shares of Barrick Gold by 2.4% during the 1st quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 36,519 shares of the gold and copper producer’s stock valued at $608,000 after purchasing an additional 850 shares during the last quarter. Finally, Bangor Savings Bank raised its position in Barrick Gold by 4.4% in the second quarter. Bangor Savings Bank now owns 21,445 shares of the gold and copper producer’s stock worth $358,000 after acquiring an additional 904 shares during the period. Hedge funds and other institutional investors own 62.85% of the company’s stock.

Barrick Gold Trading Up 2.4 %

GOLD stock opened at $19.78 on Thursday. Barrick Gold Corp has a 12 month low of $13.76 and a 12 month high of $20.89. The firm’s 50-day moving average is $18.55 and its 200 day moving average is $17.20. The company has a market capitalization of $34.67 billion, a PE ratio of 23.56, a P/E/G ratio of 0.51 and a beta of 0.51. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.32 and a quick ratio of 2.49.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its quarterly earnings results on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. The firm had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.13 billion. Barrick Gold had a return on equity of 5.55% and a net margin of 12.78%. Barrick Gold’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.19 earnings per share. On average, research analysts anticipate that Barrick Gold Corp will post 1.21 EPS for the current year.

Barrick Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.40 annualized dividend and a dividend yield of 2.02%. Barrick Gold’s payout ratio is currently 48.78%.

Analyst Ratings Changes

Several research firms have recently commented on GOLD. CIBC raised their price objective on Barrick Gold from $23.00 to $27.00 and gave the stock an “outperformer” rating in a research note on Wednesday, July 10th. Argus upgraded shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a report on Thursday, August 29th. Jefferies Financial Group upped their price objective on Barrick Gold from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, July 12th. Finally, Scotiabank increased their price target on shares of Barrick Gold from $23.00 to $25.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.80.

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.