Sumitomo Mitsui Trust Holdings Inc. Cuts Stake in Barrick Gold Corp (NYSE:GOLD)

Sumitomo Mitsui Trust Holdings Inc. lessened its stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 4.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,873,213 shares of the gold and copper producer’s stock after selling 205,025 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.28% of Barrick Gold worth $81,106,000 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 the stock. Wellington Management Group LLP lifted its stake in Barrick Gold by 58.4% in the 4th quarter. Wellington Management Group LLP now owns 100,680,644 shares of the gold and copper producer’s stock worth $1,821,963,000 after purchasing an additional 37,128,653 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Barrick Gold by 9.7% in the fourth quarter. Van ECK Associates Corp now owns 80,933,517 shares of the gold and copper producer’s stock worth $1,464,070,000 after buying an additional 7,150,142 shares in the last quarter. Capital World Investors boosted its stake in Barrick Gold by 16.4% during the fourth quarter. Capital World Investors now owns 45,479,229 shares of the gold and copper producer’s stock valued at $821,790,000 after buying an additional 6,417,244 shares during the last quarter. Ruffer LLP grew its holdings in Barrick Gold by 198.3% during the 4th quarter. Ruffer LLP now owns 9,606,218 shares of the gold and copper producer’s stock valued at $173,727,000 after buying an additional 6,385,566 shares in the last quarter. Finally, TD Asset Management Inc increased its stake in Barrick Gold by 28.3% in the 4th quarter. TD Asset Management Inc now owns 17,713,269 shares of the gold and copper producer’s stock worth $321,595,000 after acquiring an additional 3,910,872 shares during the last quarter. Institutional investors own 62.85% of the company’s stock.

Analysts Set New Price Targets

GOLD has been the subject of a number of research reports. National Bank Financial reiterated a “sector perform overweight” rating on shares of Barrick Gold in a research report on Monday, April 8th. BMO Capital Markets dropped their price objective on shares of Barrick Gold from $27.00 to $26.00 and set an “outperform” rating for the company in a research note on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $21.60.

Barrick Gold Stock Up 4.1 %

Shares of NYSE GOLD opened at $17.30 on Friday. Barrick Gold Corp has a 1 year low of $13.76 and a 1 year high of $18.95. The firm has a 50-day simple moving average of $16.86 and a two-hundred day simple moving average of $16.47. The company has a market cap of $30.37 billion, a P/E ratio of 21.10, a PEG ratio of 0.47 and a beta of 0.51. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.32 and a quick ratio of 2.49.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its quarterly earnings results on Wednesday, May 1st. The gold and copper producer reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.04. The firm had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.74 billion. Barrick Gold had a return on equity of 4.88% and a net margin of 12.58%. Barrick Gold’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period last year, the company earned $0.14 EPS. Research analysts anticipate that Barrick Gold Corp will post 1.08 earnings per share for the current year.

Barrick Gold Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Friday, May 31st were issued a $0.10 dividend. The ex-dividend date was Friday, May 31st. This is a boost from Barrick Gold’s previous quarterly dividend of $0.07. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.31%. Barrick Gold’s dividend payout ratio is presently 48.78%.

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.