Hara Capital LLC Has $610,000 Holdings in Barrick Gold Corp (NYSE:GOLD)

Hara Capital LLC trimmed its holdings in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 53.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,374 shares of the gold and copper producer’s stock after selling 45,579 shares during the period. Hara Capital LLC’s holdings in Barrick Gold were worth $610,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GOLD. CWM LLC boosted its position in Barrick Gold by 6.9% during the third quarter. CWM LLC now owns 15,826 shares of the gold and copper producer’s stock valued at $315,000 after acquiring an additional 1,021 shares during the last quarter. Exchange Traded Concepts LLC lifted its position in Barrick Gold by 198.1% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,407 shares of the gold and copper producer’s stock valued at $28,000 after acquiring an additional 935 shares in the last quarter. Creative Planning increased its stake in Barrick Gold by 6.4% in the 3rd quarter. Creative Planning now owns 115,395 shares of the gold and copper producer’s stock valued at $2,295,000 after buying an additional 6,902 shares during the last quarter. Blue Trust Inc. increased its stake in Barrick Gold by 24.9% in the 3rd quarter. Blue Trust Inc. now owns 39,097 shares of the gold and copper producer’s stock valued at $778,000 after buying an additional 7,792 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in Barrick Gold by 4.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 876,559 shares of the gold and copper producer’s stock valued at $17,435,000 after buying an additional 40,500 shares during the last quarter. 62.85% of the stock is currently owned by institutional investors and hedge funds.

Barrick Gold Stock Down 2.6 %

GOLD stock opened at $17.96 on Tuesday. The firm has a 50 day moving average of $16.25 and a 200 day moving average of $18.17. The stock has a market capitalization of $31.01 billion, a PE ratio of 19.31, a price-to-earnings-growth ratio of 0.39 and a beta of 0.55. The company has a quick ratio of 2.06, a current ratio of 2.65 and a debt-to-equity ratio of 0.14. Barrick Gold Corp has a 52 week low of $14.25 and a 52 week high of $21.35.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its 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 net margin of 13.19% and a return on equity of 5.82%. Sell-side analysts forecast that Barrick Gold Corp will post 1.23 earnings per share for the current year.

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

Barrick Gold Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend is Friday, February 28th. Barrick Gold’s payout ratio is 43.01%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GOLD. Scotiabank lowered shares of Barrick Gold from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $23.00 to $19.00 in a research note on Thursday, January 30th. Citigroup cut their price target on shares of Barrick Gold from $23.00 to $17.00 and set a “neutral” rating for the company in a report on Friday, December 20th. Bank of America downgraded shares of Barrick Gold from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $21.00 to $18.00 in a report on Monday, January 27th. Raymond James decreased their target price on shares of Barrick Gold from $25.00 to $24.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Finally, Cibc World Mkts cut shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 25th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $23.67.

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.