Perpetual Ltd Sells 59,024 Shares of Barrick Gold Corp (NYSE:GOLD)

Perpetual Ltd decreased its holdings in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 1.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,616,917 shares of the gold and copper producer’s stock after selling 59,024 shares during the period. Perpetual Ltd’s holdings in Barrick Gold were worth $76,825,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Creative Financial Designs Inc. ADV boosted its holdings in Barrick Gold by 7.1% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 9,100 shares of the gold and copper producer’s stock worth $165,000 after buying an additional 600 shares during the period. A. D. Beadell Investment Counsel Inc. boosted its holdings in Barrick Gold by 1.2% in the 4th quarter. A. D. Beadell Investment Counsel Inc. now owns 59,825 shares of the gold and copper producer’s stock worth $1,082,000 after buying an additional 700 shares during the period. Crossmark Global Holdings Inc. boosted its holdings in Barrick Gold by 1.3% in the 4th quarter. Crossmark Global Holdings Inc. now owns 79,523 shares of the gold and copper producer’s stock worth $1,438,000 after buying an additional 1,053 shares during the period. Corient Private Wealth LLC boosted its holdings in Barrick Gold by 0.9% in the 4th quarter. Corient Private Wealth LLC now owns 123,651 shares of the gold and copper producer’s stock worth $2,237,000 after buying an additional 1,066 shares during the period. Finally, Capital International Sarl boosted its holdings in Barrick Gold by 0.8% in the 4th quarter. Capital International Sarl now owns 142,723 shares of the gold and copper producer’s stock worth $2,582,000 after buying an additional 1,109 shares during the period. Institutional investors own 62.85% of the company’s stock.

Barrick Gold Trading Up 3.4 %

Barrick Gold stock traded up $0.56 during midday trading on Thursday, reaching $16.97. The stock had a trading volume of 31,190,155 shares, compared to its average volume of 22,099,576. The company has a quick ratio of 2.49, a current ratio of 3.32 and a debt-to-equity ratio of 0.15. Barrick Gold Corp has a 52-week low of $13.76 and a 52-week high of $18.95. The firm has a market cap of $29.79 billion, a price-to-earnings ratio of 20.01, a price-to-earnings-growth ratio of 0.47 and a beta of 0.59. The company has a fifty day moving average of $16.91 and a 200 day moving average of $16.50.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its quarterly earnings data on Wednesday, May 1st. The gold and copper producer reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.04. Barrick Gold had a net margin of 12.58% and a return on equity of 4.88%. The company had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.74 billion. During the same period in the prior year, the company posted $0.14 EPS. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. On average, analysts anticipate that Barrick Gold Corp will post 1.06 earnings per share for the current fiscal year.

Barrick Gold Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Friday, May 31st were given a dividend of $0.10 per share. This is a boost from Barrick Gold’s previous quarterly dividend of $0.07. The ex-dividend date was Friday, May 31st. This represents a $0.40 dividend on an annualized basis and a yield of 2.36%. Barrick Gold’s dividend payout ratio is presently 48.78%.

Wall Street Analysts Forecast Growth

Several analysts have commented on GOLD shares. StockNews.com upgraded shares of Barrick Gold from a “hold” rating to a “buy” rating in a research note on Wednesday, February 21st. Jefferies Financial Group started coverage on shares of Barrick Gold in a research note on Thursday, February 29th. They issued a “buy” rating and a $21.00 price target on the stock. Argus reiterated a “hold” rating on shares of Barrick Gold in a research note on Monday, February 26th. Royal Bank of Canada reiterated an “outperform” rating and issued a $18.00 price target on shares of Barrick Gold in a research note on Monday, March 4th. Finally, National Bank Financial reiterated a “sector perform overweight” rating on shares of Barrick Gold in a research note on Monday, April 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $21.60.

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.