Toronto Dominion Bank Has $91.70 Million Stock Position in Barrick Gold Corp (NYSE:GOLD)

Toronto Dominion Bank cut its holdings in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 12.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,497,610 shares of the gold and copper producer’s stock after selling 804,121 shares during the period. Toronto Dominion Bank owned about 0.31% of Barrick Gold worth $91,700,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Principal Securities Inc. acquired a new stake in shares of Barrick Gold in the fourth quarter valued at about $26,000. Clean Yield Group acquired a new position in Barrick Gold during the first quarter worth $25,000. EverSource Wealth Advisors LLC raised its position in Barrick Gold by 175.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,794 shares of the gold and copper producer’s stock worth $32,000 after acquiring an additional 1,143 shares in the last quarter. Crewe Advisors LLC lifted its stake in Barrick Gold by 628.8% in the second quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer’s stock valued at $30,000 after acquiring an additional 1,572 shares during the last quarter. Finally, Jackson Grant Investment Advisers Inc. bought a new position in shares of Barrick Gold in the 2nd quarter valued at about $32,000. 62.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on GOLD shares. CIBC raised their target price on shares of Barrick Gold from $23.00 to $27.00 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. 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 note on Thursday, August 29th. Jefferies Financial Group increased their price target on Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, September 13th. Royal Bank of Canada lifted their price objective on shares of Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Finally, Scotiabank increased their price objective on shares of Barrick Gold from $23.00 to $25.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Barrick Gold currently has an average rating of “Moderate Buy” and a consensus price target of $23.30.

Barrick Gold Stock Up 1.1 %

NYSE:GOLD opened at $20.43 on Wednesday. The company has a market cap of $35.81 billion, a PE ratio of 24.91, a P/E/G ratio of 0.49 and a beta of 0.55. Barrick Gold Corp has a one year low of $13.76 and a one year high of $21.13. The firm’s 50 day simple moving average is $19.26 and its 200 day simple moving average is $17.71. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.01 and a quick ratio of 2.49.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its quarterly earnings results on Monday, August 12th. The gold and copper producer reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. Barrick Gold had a return on equity of 5.53% and a net margin of 12.78%. The firm had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same quarter in the previous year, the company posted $0.19 EPS. The business’s revenue was up 11.6% on a year-over-year basis. On average, research analysts anticipate that Barrick Gold Corp will post 1.22 earnings per share for the current year.

Barrick Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend was Friday, August 30th. Barrick Gold’s dividend payout ratio is currently 48.78%.

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.