Barrick Gold Corp (NYSE:GOLD) Stock Holdings Decreased by Cromwell Holdings LLC

Cromwell Holdings LLC lessened its holdings in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 41.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 3,062 shares of the gold and copper producer’s stock after selling 2,163 shares during the quarter. Cromwell Holdings LLC’s holdings in Barrick Gold were worth $47,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of GOLD. Exchange Traded Concepts LLC grew its position in shares of Barrick Gold by 198.1% during 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 buying an additional 935 shares during the last quarter. Eastern Bank bought a new stake in shares of Barrick Gold during the 3rd quarter valued at about $32,000. JFS Wealth Advisors LLC grew its position in shares of Barrick Gold by 451.7% during the 3rd quarter. JFS Wealth Advisors LLC now owns 1,909 shares of the gold and copper producer’s stock valued at $38,000 after buying an additional 1,563 shares during the last quarter. BNP Paribas grew its position in shares of Barrick Gold by 221.7% during the 3rd quarter. BNP Paribas now owns 3,066 shares of the gold and copper producer’s stock valued at $62,000 after buying an additional 2,113 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of Barrick Gold during the 4th quarter valued at about $65,000. Institutional investors own 62.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GOLD. UBS Group downgraded shares of Barrick Gold from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $23.00 to $22.00 in a research report on Wednesday, October 30th. TD Securities decreased their target price on shares of Barrick Gold from $24.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Citigroup decreased their target price on shares of Barrick Gold from $23.00 to $17.00 and set a “neutral” rating for the company in a research report on Friday, December 20th. Bank of America cut shares of Barrick Gold from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $21.00 to $18.00 in a research report on Monday, January 27th. 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 analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $23.75.

Barrick Gold Trading Up 0.2 %

Shares of NYSE:GOLD opened at $18.82 on Friday. The company has a 50 day moving average of $16.32 and a 200-day moving average of $18.17. The firm has a market cap of $32.50 billion, a P/E ratio of 15.30, a P/E/G ratio of 0.43 and a beta of 0.55. Barrick Gold Corp has a twelve month low of $14.27 and a twelve month high of $21.35. 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 (NYSE:GOLD) (TSE:ABX) last issued its quarterly earnings results on Wednesday, February 12th. The gold and copper producer reported $0.46 earnings per share 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%. As a group, analysts anticipate that Barrick Gold Corp will post 1.47 earnings per share for the current fiscal year.

Barrick Gold announced that its board has approved a stock 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 purchase up to 3.2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Barrick Gold Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date is Friday, February 28th. Barrick Gold’s dividend payout ratio is currently 32.52%.

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.