National Bank of Canada FI Boosts Stake in Barrick Gold Corp (NYSE:GOLD)

National Bank of Canada FI boosted its position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 7.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,656,472 shares of the gold and copper producer’s stock after buying an additional 945,219 shares during the period. National Bank of Canada FI’s holdings in Barrick Gold were worth $244,133,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GOLD. Creative Financial Designs Inc. ADV grew its holdings in shares of Barrick Gold by 7.1% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 9,100 shares of the gold and copper producer’s stock worth $165,000 after buying an additional 600 shares during the last quarter. Stratos Wealth Partners LTD. increased its holdings in shares of Barrick Gold by 5.3% in the third quarter. Stratos Wealth Partners LTD. now owns 13,714 shares of the gold and copper producer’s stock valued at $200,000 after purchasing an additional 689 shares during the period. Legacy Wealth Asset Management LLC raised its stake in shares of Barrick Gold by 2.9% during the third quarter. Legacy Wealth Asset Management LLC now owns 24,555 shares of the gold and copper producer’s stock worth $357,000 after purchasing an additional 694 shares during the last quarter. A. D. Beadell Investment Counsel Inc. lifted its holdings in shares of Barrick Gold by 1.2% during the fourth quarter. A. D. Beadell Investment Counsel Inc. now owns 59,825 shares of the gold and copper producer’s stock worth $1,082,000 after purchasing an additional 700 shares during the period. Finally, Fifth Third Bancorp grew its position in Barrick Gold by 13.1% in the 3rd quarter. Fifth Third Bancorp now owns 6,067 shares of the gold and copper producer’s stock valued at $88,000 after buying an additional 702 shares during the last quarter. Hedge funds and other institutional investors own 62.85% of the company’s stock.

Analyst Ratings Changes

GOLD has been the subject of several recent analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $18.00 target price on shares of Barrick Gold in a research note on Monday, March 4th. TD Securities lowered their price objective on Barrick Gold from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Friday, February 16th. Sanford C. Bernstein downgraded Barrick Gold from an “outperform” rating to a “market perform” rating in a research note on Monday, January 8th. Raymond James reduced their price target on Barrick Gold from $24.00 to $23.00 and set an “outperform” rating for the company in a report on Thursday, February 15th. Finally, National Bank Financial reaffirmed a “sector perform overweight” rating on shares of Barrick Gold in a report on Monday, April 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Barrick Gold has an average rating of “Moderate Buy” and an average price target of $20.06.

Barrick Gold Price Performance

GOLD stock traded down $0.09 on Friday, reaching $16.46. The company had a trading volume of 16,806,390 shares, compared to its average volume of 29,962,524. The company’s fifty day moving average is $16.31 and its 200 day moving average is $16.35. The company has a market cap of $28.90 billion, a P/E ratio of 20.07, a PEG ratio of 1.45 and a beta of 0.59. 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 1 year low of $13.76 and a 1 year high of $20.75.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its quarterly earnings data on Wednesday, May 1st. The gold and copper producer reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.04. Barrick Gold had a return on equity of 4.89% and a net margin of 12.58%. The business had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.74 billion. During the same period in the prior year, the business earned $0.14 earnings per share. The business’s revenue was up 3.9% on a year-over-year basis. On average, research analysts forecast that Barrick Gold Corp will post 0.95 earnings per share for the current year.

Barrick Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 31st will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date of this dividend is Friday, May 31st. This is a positive change from Barrick Gold’s previous quarterly dividend of $0.07. Barrick Gold’s payout ratio is currently 48.78%.

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.