Barrick Gold Corp (NYSE:GOLD) Shares Sold by Intact Investment Management Inc.

Intact Investment Management Inc. decreased its position in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 14.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,444,150 shares of the gold and copper producer’s stock after selling 397,290 shares during the quarter. Barrick Gold accounts for about 1.8% of Intact Investment Management Inc.’s holdings, making the stock its 16th biggest holding. Intact Investment Management Inc. owned 0.14% of Barrick Gold worth $44,161,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Bruce G. Allen Investments LLC acquired a new stake in Barrick Gold during the fourth quarter worth approximately $35,000. Cary Street Partners Investment Advisory LLC raised its holdings in Barrick Gold by 41.1% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 3,919 shares of the gold and copper producer’s stock worth $57,000 after purchasing an additional 1,142 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Barrick Gold during the fourth quarter worth approximately $61,000. Headlands Technologies LLC acquired a new stake in Barrick Gold during the third quarter worth approximately $75,000. Finally, Fifth Third Bancorp raised its holdings in Barrick Gold by 13.1% during the third quarter. Fifth Third Bancorp now owns 6,067 shares of the gold and copper producer’s stock worth $88,000 after purchasing an additional 702 shares in the last quarter. Institutional investors and hedge funds own 62.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GOLD. Jefferies Financial Group began coverage on shares of Barrick Gold in a report on Thursday, February 29th. They issued a “buy” rating and a $21.00 target price on the stock. Scotiabank cut their target price on shares of Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating on the stock in a report on Tuesday, February 20th. BMO Capital Markets cut their target price on shares of Barrick Gold from $27.00 to $26.00 and set an “outperform” rating on the stock in a report on Wednesday, April 17th. National Bank Financial reaffirmed a “sector perform overweight” rating on shares of Barrick Gold in a report on Monday, April 8th. Finally, StockNews.com raised shares of Barrick Gold from a “hold” rating to a “buy” rating in a report on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Barrick Gold currently has an average rating of “Moderate Buy” and an average price target of $20.06.

Barrick Gold Trading Up 0.1 %

Shares of NYSE:GOLD traded up $0.01 during trading on Friday, reaching $17.09. 19,814,196 shares of the stock were exchanged, compared to its average volume of 29,788,420. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.40 and a current ratio of 3.16. Barrick Gold Corp has a 12-month low of $13.76 and a 12-month high of $20.75. The firm has a market cap of $30.00 billion, a price-to-earnings ratio of 23.74, a price-to-earnings-growth ratio of 1.50 and a beta of 0.58. The firm’s 50-day moving average price is $16.14 and its 200 day moving average price is $16.31.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its quarterly earnings results on Wednesday, February 14th. The gold and copper producer reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.06. The firm had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Barrick Gold had a return on equity of 4.64% and a net margin of 11.16%. During the same quarter in the prior year, the business earned $0.13 EPS. On average, sell-side analysts anticipate that Barrick Gold Corp will post 0.95 earnings per share for the current fiscal year.

Barrick Gold Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were paid a dividend of $0.074 per share. This represents a $0.30 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend was Wednesday, February 28th. Barrick Gold’s dividend payout ratio (DPR) is currently 55.56%.

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.