Pullen Investment Management LLC Decreases Stock Position in Barrick Gold Corp (NYSE:B)

Pullen Investment Management LLC cut its holdings in Barrick Gold Corp (NYSE:B) (TSE:ABX) by 1.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 84,904 shares of the gold and copper producer’s stock after selling 1,383 shares during the quarter. Pullen Investment Management LLC’s holdings in Barrick Gold were worth $1,651,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of B. Allspring Global Investments Holdings LLC grew its stake in shares of Barrick Gold by 15.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,012,319 shares of the gold and copper producer’s stock worth $16,036,000 after purchasing an additional 135,760 shares during the last quarter. Ingalls & Snyder LLC grew its stake in shares of Barrick Gold by 193.3% in the fourth quarter. Ingalls & Snyder LLC now owns 76,553 shares of the gold and copper producer’s stock worth $1,187,000 after purchasing an additional 50,453 shares during the last quarter. Bogart Wealth LLC grew its stake in shares of Barrick Gold by 31.8% in the fourth quarter. Bogart Wealth LLC now owns 8,378 shares of the gold and copper producer’s stock worth $130,000 after purchasing an additional 2,023 shares during the last quarter. Principal Securities Inc. grew its stake in shares of Barrick Gold by 119.4% in the fourth quarter. Principal Securities Inc. now owns 4,848 shares of the gold and copper producer’s stock worth $75,000 after purchasing an additional 2,638 shares during the last quarter. Finally, Allworth Financial LP grew its stake in shares of Barrick Gold by 1,864.2% in the fourth quarter. Allworth Financial LP now owns 21,174 shares of the gold and copper producer’s stock worth $334,000 after purchasing an additional 20,096 shares during the last quarter. 90.82% of the stock is owned by institutional investors.

Barrick Gold Stock Performance

Shares of B opened at $21.59 on Friday. The company has a quick ratio of 2.15, a current ratio of 2.89 and a debt-to-equity ratio of 0.14. The business’s 50 day moving average price is $19.31 and its 200-day moving average price is $17.97. Barrick Gold Corp has a 52 week low of $17.41 and a 52 week high of $47.50. The stock has a market cap of $37.02 billion, a P/E ratio of 17.56, a P/E/G ratio of 0.44 and a beta of 0.27.

Barrick Gold (NYSE:B) (TSE:ABX) last issued its quarterly earnings results on Wednesday, May 7th. The gold and copper producer reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.06. Barrick Gold had a return on equity of 6.76% and a net margin of 16.59%. The firm had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.15 billion. During the same period in the previous year, the firm posted $0.19 EPS. The business’s revenue for the quarter was up 13.9% compared to the same quarter last year. Equities research analysts anticipate that Barrick Gold Corp will post 1.47 earnings per share for the current fiscal year.

Barrick Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.40 dividend on an annualized basis and a yield of 1.85%. Barrick Gold’s payout ratio is currently 30.08%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Royal Bank of Canada lifted their price objective on Barrick Gold from $23.00 to $26.00 and gave the company an “outperform” rating in a research report on Wednesday, June 4th. National Bankshares reaffirmed an “outperform” rating on shares of Barrick Gold in a research report on Wednesday, April 2nd. CIBC lifted their price objective on Barrick Gold from $22.00 to $24.00 and gave the company a “neutral” rating in a research report on Wednesday. Stifel Canada raised Barrick Gold to a “strong-buy” rating in a research report on Wednesday, March 19th. Finally, Raymond James lifted their price objective on Barrick Gold from $23.00 to $23.50 and gave the company an “outperform” rating in a research report on Monday, March 31st. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Barrick Gold presently has a consensus rating of “Moderate Buy” and an average target price of $24.05.

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.