Barrick Gold Corp (NYSE:B) Shares Sold by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC trimmed its holdings in Barrick Gold Corp (NYSE:B) (TSE:ABX) by 74.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,859 shares of the gold and copper producer’s stock after selling 8,210 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Barrick Gold were worth $44,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of B. Seaview Investment Managers LLC lifted its stake in Barrick Gold by 15.6% during the fourth quarter. Seaview Investment Managers LLC now owns 603,466 shares of the gold and copper producer’s stock valued at $9,354,000 after buying an additional 81,476 shares in the last quarter. Natixis lifted its stake in Barrick Gold by 55.3% during the fourth quarter. Natixis now owns 114,386 shares of the gold and copper producer’s stock valued at $1,773,000 after buying an additional 40,719 shares in the last quarter. Capital International Inc. CA purchased a new stake in Barrick Gold during the fourth quarter valued at about $57,991,000. First Trust Advisors LP lifted its stake in Barrick Gold by 100.3% during the fourth quarter. First Trust Advisors LP now owns 74,788 shares of the gold and copper producer’s stock valued at $1,159,000 after buying an additional 37,453 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Barrick Gold by 29.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 8,394,096 shares of the gold and copper producer’s stock valued at $130,105,000 after buying an additional 1,934,560 shares in the last quarter. 62.85% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. TD Securities dropped their target price on Barrick Gold from $24.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Bank of America downgraded 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 report on Monday, January 27th. National Bank Financial upgraded Barrick Gold to a “hold” rating in a report on Friday, March 21st. StockNews.com assumed coverage on Barrick Gold in a report on Monday. They issued a “sell” rating on the stock. Finally, Raymond James upped their target price on Barrick Gold from $23.00 to $23.50 and gave the company an “outperform” rating in a report on Monday, March 31st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $24.05.

Barrick Gold Trading Down 0.4%

NYSE:B opened at $18.15 on Wednesday. The stock’s 50 day moving average price is $19.08 and its 200 day moving average price is $17.79. Barrick Gold Corp has a 52 week low of $17.98 and a 52 week high of $47.50. The company has a market capitalization of $31.21 billion, a P/E ratio of 14.76, a P/E/G ratio of 0.44 and a beta of 0.25. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.15 and a current ratio of 2.89.

Barrick Gold (NYSE:B) (TSE:ABX) last released its quarterly earnings data on Wednesday, May 7th. The gold and copper producer reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.06. The firm had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.15 billion. Barrick Gold had a return on equity of 6.76% and a net margin of 16.59%. The firm’s revenue was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.19 earnings per share. On average, research analysts forecast that Barrick Gold Corp will post 1.47 EPS for the current fiscal year.

Barrick Gold Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.40 dividend on an annualized basis and a yield of 2.20%. Barrick Gold’s payout ratio is currently 30.08%.

Barrick Gold announced that its Board of Directors has initiated a stock repurchase program on Wednesday, February 12th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the gold and copper producer to buy up to 3.2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

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.