Truist Financial Corp Sells 5,863 Shares of Barrick Gold Corp (NYSE:GOLD)

Truist Financial Corp cut its position in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 4.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 113,685 shares of the gold and copper producer’s stock after selling 5,863 shares during the quarter. Truist Financial Corp’s holdings in Barrick Gold were worth $2,057,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Stratos Wealth Partners LTD. boosted its position in Barrick Gold by 5.3% during the third quarter. Stratos Wealth Partners LTD. now owns 13,714 shares of the gold and copper producer’s stock worth $200,000 after purchasing an additional 689 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Barrick Gold by 7.8% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,047,402 shares of the gold and copper producer’s stock worth $73,519,000 after buying an additional 367,307 shares during the period. Pacific Sage Partners LLC purchased a new position in Barrick Gold in the 3rd quarter valued at approximately $146,000. Fifth Third Bancorp raised its holdings in 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 period. Finally, Peregrine Asset Advisers Inc. purchased a new stake in shares of Barrick Gold during the third quarter worth $587,000. Hedge funds and other institutional investors own 62.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on GOLD. 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 research report on Thursday, February 15th. National Bank Financial reissued a “sector perform overweight” rating on shares of Barrick Gold in a report on Monday, April 8th. Jefferies Financial Group assumed coverage on shares of Barrick Gold in a research note on Thursday, February 29th. They set a “buy” rating and a $21.00 price objective for the company. Scotiabank lowered their target price on shares of Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, February 20th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $18.00 price target on shares of Barrick Gold in a report on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $21.60.

Barrick Gold Stock Performance

Barrick Gold stock opened at $17.03 on Friday. The firm’s fifty day moving average price is $16.47 and its 200-day moving average price is $16.35. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.49 and a current ratio of 3.32. The stock has a market cap of $29.90 billion, a P/E ratio of 20.77, a price-to-earnings-growth ratio of 1.44 and a beta of 0.59. Barrick Gold Corp has a fifty-two week low of $13.76 and a fifty-two week high of $19.85.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its quarterly earnings data on Wednesday, May 1st. The gold and copper producer reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.04. The firm had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.74 billion. Barrick Gold had a net margin of 12.58% and a return on equity of 4.88%. The business’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the company posted $0.14 EPS. On average, equities research analysts expect that Barrick Gold Corp will post 0.95 earnings per share for the current fiscal year.

Barrick Gold Increases Dividend

The business 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 dividend of $0.10 per share. The ex-dividend date is Friday, May 31st. This represents a $0.40 annualized dividend and a dividend yield of 2.35%. This is a boost from Barrick Gold’s previous quarterly dividend of $0.07. Barrick Gold’s dividend payout ratio (DPR) is 48.78%.

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.