Gulf International Bank UK Ltd Sells 1,473 Shares of Barrick Gold Corp (NYSE:GOLD)

Gulf International Bank UK Ltd reduced its position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 29.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 3,574 shares of the gold and copper producer’s stock after selling 1,473 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Barrick Gold were worth $55,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GOLD. First Horizon Advisors Inc. lifted its position in Barrick Gold by 619.7% in the fourth quarter. First Horizon Advisors Inc. now owns 3,073 shares of the gold and copper producer’s stock worth $48,000 after buying an additional 2,646 shares during the last quarter. BNP Paribas lifted its position in Barrick Gold by 221.7% in the third quarter. BNP Paribas now owns 3,066 shares of the gold and copper producer’s stock worth $62,000 after buying an additional 2,113 shares during the last quarter. Exchange Traded Concepts LLC lifted its position in Barrick Gold by 196.9% in the fourth quarter. Exchange Traded Concepts LLC now owns 4,178 shares of the gold and copper producer’s stock worth $65,000 after buying an additional 2,771 shares during the last quarter. Newbridge Financial Services Group Inc. bought a new stake in Barrick Gold in the fourth quarter worth $65,000. Finally, Avior Wealth Management LLC lifted its position in Barrick Gold by 24.1% in the third quarter. Avior Wealth Management LLC now owns 3,399 shares of the gold and copper producer’s stock worth $68,000 after buying an additional 659 shares during the last quarter. 62.85% of the stock is currently owned by institutional investors.

Barrick Gold Stock Performance

Shares of Barrick Gold stock opened at $17.74 on Monday. The firm has a market cap of $30.63 billion, a P/E ratio of 14.42, a P/E/G ratio of 0.44 and a beta of 0.55. 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 Corp has a 12 month low of $14.56 and a 12 month high of $21.35. The stock’s fifty day moving average price is $16.61 and its 200-day moving average price is $18.19.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its quarterly earnings results on Wednesday, February 12th. The gold and copper producer reported $0.46 EPS for the quarter, meeting the consensus estimate of $0.46. Barrick Gold had a return on equity of 6.76% and a net margin of 16.59%. On average, equities research analysts expect that Barrick Gold Corp will post 1.47 earnings per share for the current fiscal year.

Barrick Gold declared that its board has initiated a stock repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the gold and copper producer to buy up to 3.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Barrick Gold Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.40 annualized dividend and a yield of 2.26%. Barrick Gold’s dividend payout ratio (DPR) is presently 32.52%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Citigroup lowered their price target on Barrick Gold from $23.00 to $17.00 and set a “neutral” rating for the company in a research report on Friday, December 20th. Raymond James reduced their target price on Barrick Gold from $25.00 to $24.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. Cibc World Mkts lowered Barrick Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 25th. Bank of America lowered Barrick Gold from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $21.00 to $18.00 in a research note on Monday, January 27th. Finally, Berenberg Bank increased their target price on Barrick Gold from $37.00 to $38.00 in a research note on Tuesday, November 26th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $23.75.

Barrick Gold 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.