Bradley Foster & Sargent Inc. CT Decreases Stake in Barrick Gold Corp (NYSE:GOLD)

Bradley Foster & Sargent Inc. CT cut its position in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 22.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,229 shares of the gold and copper producer’s stock after selling 9,512 shares during the period. Bradley Foster & Sargent Inc. CT’s holdings in Barrick Gold were worth $500,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Principal Financial Group Inc. increased its holdings in Barrick Gold by 19.9% in the third quarter. Principal Financial Group Inc. now owns 483,613 shares of the gold and copper producer’s stock valued at $9,630,000 after buying an additional 80,366 shares during the last quarter. Mizuho Markets Americas LLC boosted its position in shares of Barrick Gold by 21.7% during the 3rd quarter. Mizuho Markets Americas LLC now owns 2,317,580 shares of the gold and copper producer’s stock worth $46,097,000 after acquiring an additional 413,012 shares in the last quarter. Entropy Technologies LP purchased a new position in shares of Barrick Gold in the 3rd quarter valued at about $3,711,000. Aigen Investment Management LP raised its position in shares of Barrick Gold by 330.5% during the 3rd quarter. Aigen Investment Management LP now owns 99,240 shares of the gold and copper producer’s stock worth $1,974,000 after acquiring an additional 76,186 shares in the last quarter. Finally, Crocodile Capital Partners GmbH lifted its stake in Barrick Gold by 97.3% during the fourth quarter. Crocodile Capital Partners GmbH now owns 1,460,000 shares of the gold and copper producer’s stock worth $22,630,000 after purchasing an additional 720,000 shares during the last quarter. 62.85% of the stock is currently owned by institutional investors and hedge funds.

Barrick Gold Stock Down 2.7 %

GOLD opened at $18.31 on Friday. Barrick Gold Corp has a 52 week low of $14.27 and a 52 week high of $21.35. The business has a 50 day moving average price of $16.38 and a two-hundred day moving average price of $18.18. 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 company has a market cap of $31.61 billion, a PE ratio of 14.88, a P/E/G ratio of 0.44 and a beta of 0.55.

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

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. This represents a $0.40 annualized dividend and a dividend yield of 2.19%. The ex-dividend date is Friday, February 28th. Barrick Gold’s payout ratio is 32.52%.

Barrick Gold declared that its board has initiated a stock repurchase program 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 programs are typically a sign that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

GOLD has been the topic of several recent analyst reports. UBS Group lowered shares of Barrick Gold from a “buy” rating to a “neutral” rating and dropped their price target for the company from $23.00 to $22.00 in a research note on Wednesday, October 30th. Bank of America downgraded shares of Barrick Gold from a “buy” rating to a “neutral” rating and dropped their target price for the company from $21.00 to $18.00 in a research report on Monday, January 27th. TD Securities cut their price target on shares of Barrick Gold from $24.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. CIBC downgraded shares of Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research note on Monday, November 25th. Finally, Berenberg Bank lifted their target price on Barrick Gold from $37.00 to $38.00 in a research report on Tuesday, November 26th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.75.

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.