SVB Wealth LLC Trims Stake in Barrick Gold Corp (NYSE:GOLD)

SVB Wealth LLC decreased its position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 5.9% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 11,706 shares of the gold and copper producer’s stock after selling 729 shares during the period. SVB Wealth LLC’s holdings in Barrick Gold were worth $212,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bruce G. Allen Investments LLC purchased a new position in shares of Barrick Gold during the 4th quarter worth approximately $35,000. Cary Street Partners Investment Advisory LLC grew its holdings in shares of Barrick Gold by 41.1% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 3,919 shares of the gold and copper producer’s stock worth $57,000 after acquiring an additional 1,142 shares during the period. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Barrick Gold in the 4th quarter worth approximately $61,000. Headlands Technologies LLC purchased a new stake in shares of Barrick Gold in the 3rd quarter worth approximately $75,000. Finally, Fifth Third Bancorp grew its stake in shares of 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 worth $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.

Wall Street Analyst Weigh In

Several research firms recently weighed in on GOLD. Raymond James cut their price target on Barrick Gold from $24.00 to $23.00 and set an “outperform” rating on the stock in a research note on Thursday, February 15th. TD Securities cut their price target on Barrick Gold from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Friday, February 16th. National Bank Financial restated a “sector perform overweight” rating on shares of Barrick Gold in a research note on Monday, April 8th. CIBC cut their price target on Barrick Gold from $27.00 to $23.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 7th. Finally, StockNews.com upgraded Barrick Gold from a “hold” rating to a “buy” rating in a research note on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Barrick Gold has an average rating of “Moderate Buy” and an average price target of $20.06.

Barrick Gold Price Performance

NYSE GOLD opened at $16.69 on Wednesday. The business’s fifty day moving average price is $15.99 and its 200-day moving average price is $16.28. The stock has a market capitalization of $29.30 billion, a price-to-earnings ratio of 23.18, a PEG ratio of 1.59 and a beta of 0.58. 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.

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, beating the consensus estimate of $0.21 by $0.06. The firm had revenue of $3.06 billion for 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 period in the prior year, the firm earned $0.13 EPS. On average, equities analysts predict that Barrick Gold Corp will post 0.9 earnings per share for the current year.

Barrick Gold Cuts Dividend

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