Plancorp LLC Sells 12,780 Shares of Barrick Gold Corp (NYSE:GOLD)

Plancorp LLC decreased its holdings in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 4.7% in the fourth quarter, HoldingsChannel reports. The fund owned 260,247 shares of the gold and copper producer’s stock after selling 12,780 shares during the quarter. Plancorp LLC’s holdings in Barrick Gold were worth $4,034,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of GOLD. Moors & Cabot Inc. lifted its stake in shares of Barrick Gold by 0.9% during the 3rd quarter. Moors & Cabot Inc. now owns 64,085 shares of the gold and copper producer’s stock valued at $1,275,000 after buying an additional 579 shares in the last quarter. Chelsea Counsel Co. lifted its stake in shares of Barrick Gold by 1.4% during the 3rd quarter. Chelsea Counsel Co. now owns 42,973 shares of the gold and copper producer’s stock valued at $855,000 after buying an additional 590 shares in the last quarter. Avior Wealth Management LLC lifted its stake in shares of Barrick Gold by 24.1% during the 3rd quarter. Avior Wealth Management LLC now owns 3,399 shares of the gold and copper producer’s stock valued at $68,000 after buying an additional 659 shares in the last quarter. VisionPoint Advisory Group LLC lifted its stake in shares of Barrick Gold by 6.7% during the 4th quarter. VisionPoint Advisory Group LLC now owns 14,051 shares of the gold and copper producer’s stock valued at $224,000 after buying an additional 880 shares in the last quarter. Finally, Bangor Savings Bank lifted its stake in shares of Barrick Gold by 4.5% during the 4th quarter. Bangor Savings Bank now owns 22,025 shares of the gold and copper producer’s stock valued at $341,000 after buying an additional 956 shares in the last quarter. Institutional investors own 62.85% of the company’s stock.

Analysts Set New Price Targets

GOLD has been the topic of a number of analyst reports. TD Securities lowered their target price on shares of Barrick Gold from $24.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Citigroup lowered their target price on shares of Barrick Gold from $23.00 to $17.00 and set a “neutral” rating on the stock in a research note on Friday, December 20th. Raymond James decreased their price target on shares of 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 cut shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 25th. Finally, Stifel Canada upgraded shares of Barrick Gold to a “strong-buy” rating in a research note on Wednesday. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.75.

Barrick Gold Stock Down 2.2 %

Shares of NYSE GOLD opened at $18.86 on Friday. The firm’s 50-day moving average price is $17.50 and its 200-day moving average price is $18.05. The company has a current ratio of 2.89, a quick ratio of 2.15 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $32.54 billion, a price-to-earnings ratio of 15.33, a P/E/G ratio of 0.44 and a beta of 0.58. Barrick Gold Corp has a 12-month low of $0.25 and a 12-month high of $21.35.

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

Barrick Gold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.40 annualized dividend and a yield of 2.12%. Barrick Gold’s payout ratio is 32.52%.

Barrick Gold declared that its Board of Directors has approved 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 purchase up to 3.2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

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.