Norden Group LLC Sells 2,152 Shares of Barrick Gold Corp (NYSE:GOLD)

Norden Group LLC trimmed its stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 6.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 31,857 shares of the gold and copper producer’s stock after selling 2,152 shares during the quarter. Norden Group LLC’s holdings in Barrick Gold were worth $494,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of GOLD. First Horizon Advisors Inc. boosted its stake 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 purchasing an additional 2,646 shares in the last quarter. BNP Paribas boosted its stake 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 purchasing an additional 2,113 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake 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 purchasing an additional 2,771 shares in the last quarter. Newbridge Financial Services Group Inc. acquired a new position in Barrick Gold in the fourth quarter worth $65,000. Finally, Avior Wealth Management LLC boosted its stake 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 purchasing an additional 659 shares in the last quarter. Institutional investors and hedge funds own 62.85% of the company’s stock.

Wall Street Analysts Forecast Growth

GOLD has been the topic of several recent research reports. TD Securities decreased their price target on Barrick Gold from $24.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Raymond James decreased their price target on Barrick Gold from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. CIBC cut Barrick Gold from a “sector outperform” rating to a “neutral” rating in a report on Monday, November 25th. Bank of America cut Barrick Gold from a “buy” rating to a “neutral” rating and decreased their price target for the company from $21.00 to $18.00 in a report on Monday, January 27th. Finally, Cibc World Mkts cut Barrick Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, November 25th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $23.75.

Barrick Gold Price Performance

Shares of GOLD opened at $17.67 on Tuesday. 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 1 year low of $15.05 and a 1 year high of $21.35. The stock has a market cap of $30.52 billion, a P/E ratio of 14.37, a price-to-earnings-growth ratio of 0.44 and a beta of 0.55. The stock’s 50-day moving average price is $16.65 and its two-hundred day moving average price is $18.18.

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

Barrick Gold Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date of this dividend is Friday, February 28th. Barrick Gold’s dividend payout ratio is currently 32.52%.

Barrick Gold announced that its board has approved a share buyback program on Wednesday, February 12th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the gold and copper producer to reacquire up to 3.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

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.