Greenleaf Trust Sells 1,766 Shares of Barrick Gold Corp (NYSE:GOLD)

Greenleaf Trust trimmed its holdings in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 6.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,281 shares of the gold and copper producer’s stock after selling 1,766 shares during the quarter. Greenleaf Trust’s holdings in Barrick Gold were worth $439,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Creative Financial Designs Inc. ADV boosted its position in shares of Barrick Gold by 7.1% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 9,100 shares of the gold and copper producer’s stock valued at $165,000 after acquiring an additional 600 shares during the last quarter. Stratos Wealth Partners LTD. boosted its position in shares of Barrick Gold by 5.3% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 13,714 shares of the gold and copper producer’s stock valued at $200,000 after acquiring an additional 689 shares during the last quarter. Legacy Wealth Asset Management LLC boosted its position in shares of Barrick Gold by 2.9% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 24,555 shares of the gold and copper producer’s stock valued at $357,000 after acquiring an additional 694 shares during the last quarter. A. D. Beadell Investment Counsel Inc. boosted its position in shares of Barrick Gold by 1.2% during the 4th quarter. A. D. Beadell Investment Counsel Inc. now owns 59,825 shares of the gold and copper producer’s stock valued at $1,082,000 after acquiring an additional 700 shares during the last quarter. Finally, Fifth Third Bancorp boosted its position in shares of Barrick Gold by 13.1% during the 3rd quarter. Fifth Third Bancorp now owns 6,067 shares of the gold and copper producer’s stock valued at $88,000 after acquiring an additional 702 shares during the last quarter. 62.85% of the stock is currently owned by institutional investors.

Barrick Gold Trading Up 1.6 %

Shares of NYSE GOLD opened at $16.69 on Wednesday. The business has a fifty day moving average price of $15.99 and a 200 day moving average price of $16.28. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.16 and a quick ratio of 2.40. Barrick Gold Corp has a 1-year low of $13.76 and a 1-year high of $20.75. The stock has a market capitalization of $29.30 billion, a P/E ratio of 23.18, a price-to-earnings-growth ratio of 1.59 and a beta of 0.58.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its quarterly earnings results on Wednesday, February 14th. The gold and copper producer reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.06. Barrick Gold had a return on equity of 4.64% and a net margin of 11.16%. The company had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same period last year, the business posted $0.13 earnings per share. Equities research analysts expect that Barrick Gold Corp will post 0.9 EPS for the current fiscal year.

Barrick Gold Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a $0.074 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend was Wednesday, February 28th. Barrick Gold’s dividend payout ratio is presently 55.56%.

Analysts Set New Price Targets

A number of research firms have recently commented on GOLD. StockNews.com upgraded Barrick Gold from a “hold” rating to a “buy” rating in a research report on Wednesday, February 21st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $18.00 price objective on shares of Barrick Gold in a research note on Monday, March 4th. CIBC cut their price objective on shares of Barrick Gold from $27.00 to $23.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 7th. Raymond James lowered their target price on shares of Barrick Gold from $24.00 to $23.00 and set an “outperform” rating for the company in a report on Thursday, February 15th. Finally, Sanford C. Bernstein lowered shares of Barrick Gold from an “outperform” rating to a “market perform” rating in a research report on Monday, January 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $20.06.

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.