Cerity Partners LLC Sells 838 Shares of Barrick Gold Corp (NYSE:GOLD)

Cerity Partners LLC cut its holdings in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 0.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 92,784 shares of the gold and copper producer’s stock after selling 838 shares during the period. Cerity Partners LLC’s holdings in Barrick Gold were worth $1,512,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Principal Financial Group Inc. grew its position in shares of Barrick Gold by 19.9% in the 3rd quarter. Principal Financial Group Inc. now owns 483,613 shares of the gold and copper producer’s stock valued at $9,630,000 after purchasing an additional 80,366 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Barrick Gold by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,073,717 shares of the gold and copper producer’s stock valued at $78,637,000 after buying an additional 128,203 shares during the period. Crocodile Capital Partners GmbH increased its position in shares of 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 acquiring an additional 720,000 shares in the last quarter. Legend Financial Advisors Inc. acquired a new stake in shares of Barrick Gold during the fourth quarter worth $700,000. Finally, Gateway Investment Advisers LLC lifted its position in Barrick Gold by 6.9% in the 4th quarter. Gateway Investment Advisers LLC now owns 278,717 shares of the gold and copper producer’s stock valued at $4,320,000 after acquiring an additional 17,980 shares in the last quarter. 62.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GOLD. Royal Bank of Canada lifted their price target on Barrick Gold from $22.00 to $23.00 and gave the company an “outperform” rating in a research note on Friday, April 4th. UBS Group upped their price target on Barrick Gold from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, April 11th. Citigroup decreased their price target on shares of Barrick Gold from $21.00 to $17.00 and set a “neutral” rating for the company in a research note on Monday, March 31st. National Bank Financial raised shares of Barrick Gold to a “hold” rating in a research report on Friday, March 21st. Finally, Bank of America lowered shares of Barrick Gold from a “buy” rating to a “neutral” rating and lowered their price target for the company from $21.00 to $18.00 in a research note on Monday, January 27th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $24.05.

Barrick Gold Stock Down 2.3 %

Shares of GOLD opened at $20.19 on Friday. The firm has a market cap of $34.71 billion, a P/E ratio of 16.41, a price-to-earnings-growth ratio of 0.44 and a beta of 0.55. 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 Corp has a 52 week low of $15.11 and a 52 week high of $21.35. The firm’s 50-day simple moving average is $18.74 and its 200 day simple moving average is $17.94.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its earnings results on Wednesday, February 12th. The gold and copper producer reported $0.46 EPS for the quarter, meeting the consensus estimate of $0.46. Barrick Gold had a return on equity of 6.76% and a net margin of 16.59%. On average, analysts forecast that Barrick Gold Corp will post 1.47 earnings per share for the current year.

Barrick Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend was Friday, February 28th. Barrick Gold’s dividend payout ratio is presently 32.52%.

Barrick Gold announced that its board has authorized a share repurchase plan 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 repurchase up to 3.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

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.