Barrick Gold Corp (NYSE:GOLD) Shares Sold by Avalon Capital Management

Avalon Capital Management lessened its stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 4.3% during the fourth quarter, Holdings Channel reports. The firm owned 17,600 shares of the gold and copper producer’s stock after selling 800 shares during the period. Avalon Capital Management’s holdings in Barrick Gold were worth $273,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GOLD. Moors & Cabot Inc. lifted its stake in shares of Barrick Gold by 0.9% in the third quarter. Moors & Cabot Inc. now owns 64,085 shares of the gold and copper producer’s stock worth $1,275,000 after acquiring an additional 579 shares in the last quarter. Chelsea Counsel Co. lifted its stake in shares of Barrick Gold by 1.4% in the 3rd quarter. Chelsea Counsel Co. now owns 42,973 shares of the gold and copper producer’s stock worth $855,000 after acquiring an additional 590 shares during the period. Avior Wealth Management LLC boosted its position in shares of Barrick Gold by 24.1% during the 3rd quarter. Avior Wealth Management LLC now owns 3,399 shares of the gold and copper producer’s stock valued at $68,000 after purchasing an additional 659 shares in the last quarter. Whitener Capital Management Inc. lifted its position in shares of Barrick Gold by 0.9% during the 3rd quarter. Whitener Capital Management Inc. now owns 73,185 shares of the gold and copper producer’s stock valued at $1,456,000 after acquiring an additional 675 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its holdings in shares of Barrick Gold by 0.5% during the third quarter. DekaBank Deutsche Girozentrale now owns 147,903 shares of the gold and copper producer’s stock valued at $2,953,000 after purchasing an additional 732 shares during the last quarter. 62.85% of the stock is currently owned by institutional investors and hedge funds.

Barrick Gold Trading Down 0.2 %

NYSE GOLD opened at $18.27 on Tuesday. The company has a current ratio of 2.89, a quick ratio of 2.15 and a debt-to-equity ratio of 0.14. The stock has a market cap of $31.55 billion, a P/E ratio of 14.85, a P/E/G ratio of 0.44 and a beta of 0.55. Barrick Gold Corp has a 12 month low of $14.27 and a 12 month high of $21.35. The stock’s fifty day moving average price is $16.42 and its 200-day moving average price is $18.21.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its quarterly earnings results on Wednesday, February 12th. The gold and copper producer reported $0.46 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.46. Barrick Gold had a return on equity of 6.76% and a net margin of 16.59%. As a group, equities analysts forecast that Barrick Gold Corp will post 1.47 EPS for the current fiscal year.

Barrick Gold announced that its board has authorized a stock repurchase plan on Wednesday, February 12th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the gold and copper producer to repurchase up to 3.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Barrick Gold Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.40 annualized dividend and a dividend yield of 2.19%. Barrick Gold’s dividend payout ratio (DPR) is presently 32.52%.

Analyst Ratings Changes

Several equities analysts have commented on the company. CIBC downgraded Barrick Gold from a “sector outperform” rating to a “neutral” rating in a report on Monday, November 25th. Citigroup lowered their price objective on Barrick Gold from $23.00 to $17.00 and set a “neutral” rating for the company in a research report on Friday, December 20th. Cibc World Mkts downgraded shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 25th. Scotiabank boosted their price target on Barrick Gold from $19.00 to $20.00 and gave the company a “sector perform” rating in a report on Tuesday, February 18th. Finally, Bank of America downgraded Barrick Gold from a “buy” rating to a “neutral” rating and cut their price objective for the company from $21.00 to $18.00 in a report on Monday, January 27th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Barrick Gold currently has a consensus rating of “Moderate Buy” and an average target price of $23.75.

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.