UniSuper Management Pty Ltd Sells 17,006 Shares of Barrick Gold Corp (NYSE:GOLD)

UniSuper Management Pty Ltd reduced its stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 33.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,600 shares of the gold and copper producer’s stock after selling 17,006 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Barrick Gold were worth $521,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. Chelsea Counsel Co. lifted its stake in 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 valued at $855,000 after acquiring an additional 590 shares in the last quarter. VisionPoint Advisory Group LLC boosted its holdings in Barrick Gold by 6.7% during the fourth quarter. VisionPoint Advisory Group LLC now owns 14,051 shares of the gold and copper producer’s stock worth $224,000 after purchasing an additional 880 shares during the last quarter. Bangor Savings Bank grew its position in Barrick Gold by 4.5% in the fourth quarter. Bangor Savings Bank now owns 22,025 shares of the gold and copper producer’s stock valued at $341,000 after purchasing an additional 956 shares in the last quarter. Confluence Investment Management LLC grew its position in Barrick Gold by 3.4% in the fourth quarter. Confluence Investment Management LLC now owns 29,751 shares of the gold and copper producer’s stock valued at $461,000 after purchasing an additional 974 shares in the last quarter. Finally, Mesirow Financial Investment Management Inc. increased its stake in Barrick Gold by 3.5% in the 4th quarter. Mesirow Financial Investment Management Inc. now owns 30,510 shares of the gold and copper producer’s stock valued at $473,000 after buying an additional 1,035 shares during the last quarter. Institutional investors own 62.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on GOLD. National Bank Financial raised Barrick Gold to a “hold” rating in a research report on Friday, March 21st. Raymond James raised their target price on shares of Barrick Gold from $23.00 to $23.50 and gave the company an “outperform” rating in a research note on Monday. UBS Group raised shares of Barrick Gold from a “neutral” rating to a “buy” rating and set a $22.00 price target on the stock in a research report on Wednesday, March 5th. Scotiabank lifted their price objective on shares of Barrick Gold from $19.00 to $20.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 18th. Finally, Stifel Canada upgraded Barrick Gold to a “strong-buy” rating in a research note on Wednesday, March 19th. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $23.71.

Barrick Gold Stock Performance

NYSE GOLD opened at $19.41 on Tuesday. The company has a market capitalization of $33.49 billion, a P/E ratio of 15.78, a P/E/G ratio of 0.44 and a beta of 0.58. Barrick Gold Corp has a 12-month low of $15.11 and a 12-month high of $21.35. 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 firm has a 50-day moving average price of $17.92 and a two-hundred day moving average price of $18.02.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its earnings results on Wednesday, February 12th. The gold and copper producer reported $0.46 EPS for the quarter, meeting the consensus estimate of $0.46. Barrick Gold had a net margin of 16.59% and a return on equity of 6.76%. Analysts anticipate that Barrick Gold Corp will post 1.47 earnings per share for the current year.

Barrick Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were given a dividend of $0.10 per share. The ex-dividend date was Friday, February 28th. This represents a $0.40 annualized dividend and a dividend yield of 2.06%. Barrick Gold’s dividend payout ratio is currently 32.52%.

Barrick Gold announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the gold and copper producer to buy 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 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.