Barrick Gold Corp (NYSE:GOLD) Stock Position Decreased by Flossbach Von Storch AG

Flossbach Von Storch AG cut its position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 97.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 732,106 shares of the gold and copper producer’s stock after selling 33,657,909 shares during the period. Flossbach Von Storch AG’s holdings in Barrick Gold were worth $13,244,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Scissortail Wealth Management LLC purchased a new stake in shares of Barrick Gold during the 4th quarter worth about $295,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Barrick Gold by 5.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 428,403 shares of the gold and copper producer’s stock valued at $7,778,000 after acquiring an additional 21,502 shares during the last quarter. Flputnam Investment Management Co. increased its holdings in shares of Barrick Gold by 25.4% during the 4th quarter. Flputnam Investment Management Co. now owns 135,725 shares of the gold and copper producer’s stock valued at $2,455,000 after acquiring an additional 27,468 shares during the last quarter. Mackenzie Financial Corp increased its holdings in shares of Barrick Gold by 4.4% during the 4th quarter. Mackenzie Financial Corp now owns 18,783,046 shares of the gold and copper producer’s stock valued at $339,524,000 after acquiring an additional 787,829 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Barrick Gold by 0.6% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,078,238 shares of the gold and copper producer’s stock valued at $92,047,000 after acquiring an additional 30,836 shares during the last quarter. 62.85% of the stock is owned by hedge funds and other institutional investors.

Barrick Gold Trading Up 1.3 %

Shares of GOLD stock traded up $0.22 on Wednesday, reaching $16.70. 24,784,212 shares of the stock were exchanged, compared to its average volume of 22,735,023. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.16 and a quick ratio of 2.40. Barrick Gold Corp has a one year low of $13.76 and a one year high of $20.75. The stock has a 50 day moving average price of $15.82 and a 200 day moving average price of $16.20. The stock has a market cap of $29.32 billion, a PE ratio of 23.19, a P/E/G ratio of 1.58 and a beta of 0.58.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its quarterly earnings data on Wednesday, February 14th. The gold and copper producer reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.06. Barrick Gold had a return on equity of 4.64% and a net margin of 11.16%. The business had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same period in the previous year, the firm earned $0.13 earnings per share. Equities research analysts forecast that Barrick Gold Corp will post 0.91 EPS for the current fiscal year.

Barrick Gold Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were paid a $0.074 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $0.30 dividend on an annualized basis and a yield of 1.77%. Barrick Gold’s payout ratio is 55.56%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on GOLD shares. BMO Capital Markets lowered their target price on Barrick Gold from $26.00 to $24.00 and set an “outperform” rating on the stock in a report on Thursday, February 15th. National Bank Financial reaffirmed a “sector perform overweight” rating on shares of Barrick Gold in a report on Monday, April 8th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $18.00 target price on shares of Barrick Gold in a report on Monday, March 4th. Raymond James lowered their target price on Barrick Gold from $24.00 to $23.00 and set an “outperform” rating on the stock in a report on Thursday, February 15th. Finally, StockNews.com raised Barrick Gold from a “hold” rating to a “buy” rating in a report on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $22.05.

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.