Levin Capital Strategies L.P. Cuts Stock Holdings in Barrick Gold Corp (NYSE:GOLD)

Levin Capital Strategies L.P. cut its stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 3.2% in the second quarter, HoldingsChannel reports. The firm owned 148,294 shares of the gold and copper producer’s stock after selling 4,920 shares during the quarter. Levin Capital Strategies L.P.’s holdings in Barrick Gold were worth $2,474,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of GOLD. Clean Yield Group acquired a new stake in Barrick Gold in the first quarter valued at $25,000. Principal Securities Inc. purchased a new stake in Barrick Gold in the fourth quarter valued at $26,000. Crewe Advisors LLC boosted its stake in Barrick Gold by 628.8% in the second quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer’s stock valued at $30,000 after acquiring an additional 1,572 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Barrick Gold by 175.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,794 shares of the gold and copper producer’s stock worth $32,000 after purchasing an additional 1,143 shares during the last quarter. Finally, Jackson Grant Investment Advisers Inc. acquired a new stake in shares of Barrick Gold during the second quarter worth about $32,000. 62.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Barrick Gold Trading Up 1.5 %

NYSE GOLD opened at $19.28 on Tuesday. The stock has a market capitalization of $33.79 billion, a P/E ratio of 23.51, a P/E/G ratio of 0.47 and a beta of 0.55. The firm has a 50-day moving average price of $18.71 and a 200 day moving average price of $17.31. Barrick Gold Corp has a 52-week low of $13.76 and a 52-week high of $20.89. 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 (NYSE:GOLD) (TSE:ABX) last announced its quarterly earnings data on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. The firm had revenue of $3.16 billion for 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 prior year, the company posted $0.19 earnings per share. Equities research analysts expect that Barrick Gold Corp will post 1.22 EPS for the current year.

Barrick Gold Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders 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 dividend on an annualized basis and a yield of 2.07%. Barrick Gold’s dividend payout ratio (DPR) is presently 48.78%.

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.