Norden Group LLC Sells 9,517 Shares of Barrick Gold Corp (NYSE:GOLD)

Norden Group LLC trimmed its holdings in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 36.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,454 shares of the gold and copper producer’s stock after selling 9,517 shares during the quarter. Norden Group LLC’s holdings in Barrick Gold were worth $274,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Global Retirement Partners LLC lifted its holdings in Barrick Gold by 15.3% during the first quarter. Global Retirement Partners LLC now owns 5,434 shares of the gold and copper producer’s stock valued at $90,000 after purchasing an additional 721 shares in the last quarter. Edge Wealth Management LLC lifted its stake in shares of Barrick Gold by 6.3% during the 1st quarter. Edge Wealth Management LLC now owns 12,255 shares of the gold and copper producer’s stock valued at $204,000 after buying an additional 725 shares in the last quarter. Greenleaf Trust increased its stake in Barrick Gold by 3.5% in the 1st quarter. Greenleaf Trust now owns 25,119 shares of the gold and copper producer’s stock worth $418,000 after buying an additional 838 shares in the last quarter. DORCHESTER WEALTH MANAGEMENT Co raised its holdings in Barrick Gold by 2.4% during the first quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 36,519 shares of the gold and copper producer’s stock valued at $608,000 after acquiring an additional 850 shares during the period. Finally, Bangor Savings Bank lifted its position in shares of Barrick Gold by 4.4% in the second quarter. Bangor Savings Bank now owns 21,445 shares of the gold and copper producer’s stock valued at $358,000 after acquiring an additional 904 shares in the last quarter. 62.85% of the stock is owned by hedge funds and other institutional investors.

Barrick Gold Trading Up 1.5 %

GOLD opened at $19.28 on Tuesday. The stock has a 50-day moving average of $18.71 and a 200 day moving average of $17.31. The company has a current ratio of 3.32, a quick ratio of 2.49 and a debt-to-equity ratio of 0.15. Barrick Gold Corp has a 12 month low of $13.76 and a 12 month high of $20.89. The firm has a market cap of $33.79 billion, a P/E ratio of 23.51, a P/E/G ratio of 0.47 and a beta of 0.55.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its earnings results on Monday, August 12th. The gold and copper producer reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. Barrick Gold had a return on equity of 5.55% and a net margin of 12.78%. The firm had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same quarter in the previous year, the business earned $0.19 EPS. The company’s quarterly revenue was up 11.6% on a year-over-year basis. As a group, research analysts forecast that Barrick Gold Corp will post 1.22 EPS for the current year.

Barrick Gold Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend is Friday, August 30th. Barrick Gold’s dividend payout ratio is currently 48.78%.

Wall Street Analyst Weigh In

GOLD has been the subject of several research analyst reports. Argus upgraded Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research report on Thursday, August 29th. CIBC increased their price objective on shares of Barrick Gold from $23.00 to $27.00 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. Scotiabank boosted their target price on shares of Barrick Gold from $23.00 to $25.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. Finally, Jefferies Financial Group lifted their price target on shares of Barrick Gold from $22.00 to $23.00 and gave the company a “buy” rating in a report on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Barrick Gold presently has an average rating of “Moderate Buy” and an average target price of $22.80.

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.