Brown Brothers Harriman & Co. Has $124,000 Stock Position in Barrick Gold Corp (NYSE:GOLD)

Brown Brothers Harriman & Co. cut its position in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 53.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 8,000 shares of the gold and copper producer’s stock after selling 9,267 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Barrick Gold were worth $124,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Crowley Wealth Management Inc. acquired a new stake in Barrick Gold in the fourth quarter valued at approximately $26,000. First Horizon Advisors Inc. lifted its holdings in shares of Barrick Gold by 619.7% in the 4th quarter. First Horizon Advisors Inc. now owns 3,073 shares of the gold and copper producer’s stock worth $48,000 after purchasing an additional 2,646 shares in the last quarter. Exchange Traded Concepts LLC grew its position in Barrick Gold by 196.9% in the 4th quarter. Exchange Traded Concepts LLC now owns 4,178 shares of the gold and copper producer’s stock valued at $65,000 after purchasing an additional 2,771 shares during the period. Newbridge Financial Services Group Inc. bought a new stake in Barrick Gold during the 4th quarter valued at $65,000. Finally, Principal Securities Inc. raised its holdings in Barrick Gold by 119.4% during the fourth quarter. Principal Securities Inc. now owns 4,848 shares of the gold and copper producer’s stock worth $75,000 after buying an additional 2,638 shares during the last quarter. 62.85% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

GOLD has been the subject of several recent research reports. Stifel Canada raised shares of Barrick Gold to a “strong-buy” rating in a research report on Wednesday, March 19th. UBS Group raised Barrick Gold from a “neutral” rating to a “buy” rating and set a $22.00 price objective for the company in a report on Wednesday, March 5th. National Bank Financial upgraded Barrick Gold to a “hold” rating in a report on Friday, March 21st. Scotiabank lifted their target price on 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, Bank of America lowered Barrick Gold from a “buy” rating to a “neutral” rating and lowered their price target for the company from $21.00 to $18.00 in a research report on Monday, January 27th. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Barrick Gold presently has a consensus rating of “Moderate Buy” and an average price target of $23.71.

Barrick Gold Stock Up 1.2 %

Shares of NYSE:GOLD opened at $19.67 on Wednesday. Barrick Gold Corp has a 1 year low of $15.11 and a 1 year high of $21.35. The company has a market capitalization of $33.95 billion, a PE ratio of 16.00, a price-to-earnings-growth ratio of 0.44 and a beta of 0.58. The business has a fifty day moving average price of $17.99 and a two-hundred day moving average price of $18.01. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.89 and a quick ratio of 2.15.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its quarterly earnings results on Wednesday, February 12th. The gold and copper producer reported $0.46 earnings per share 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 forecast that Barrick Gold Corp will post 1.47 earnings per share for the current year.

Barrick Gold declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, February 12th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the gold and copper producer to purchase up to 3.2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

Barrick Gold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were paid 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 2.03%. Barrick Gold’s payout ratio is currently 32.52%.

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.