Axa S.A. Sells 76,377 Shares of Barrick Gold Corp (NYSE:GOLD)

Axa S.A. lowered its holdings in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 6.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,183,565 shares of the gold and copper producer’s stock after selling 76,377 shares during the quarter. Axa S.A. owned approximately 0.07% of Barrick Gold worth $19,742,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Edge Wealth Management LLC lifted its holdings in Barrick Gold by 6.3% during the first quarter. Edge Wealth Management LLC now owns 12,255 shares of the gold and copper producer’s stock worth $204,000 after buying an additional 725 shares during the period. Greenleaf Trust lifted its stake in shares of Barrick Gold by 3.5% during the 1st quarter. Greenleaf Trust now owns 25,119 shares of the gold and copper producer’s stock worth $418,000 after purchasing an additional 838 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co boosted its position in Barrick Gold by 2.4% during the first quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 36,519 shares of the gold and copper producer’s stock valued at $608,000 after purchasing an additional 850 shares in the last quarter. Bangor Savings Bank grew its stake in Barrick Gold by 4.4% in the second quarter. Bangor Savings Bank now owns 21,445 shares of the gold and copper producer’s stock valued at $358,000 after purchasing an additional 904 shares during the last quarter. Finally, S.A. Mason LLC raised its holdings in Barrick Gold by 3.5% in the first quarter. S.A. Mason LLC now owns 28,543 shares of the gold and copper producer’s stock worth $475,000 after purchasing an additional 973 shares in the last quarter. Hedge funds and other institutional investors own 62.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GOLD. Raymond James cut their price objective on shares of Barrick Gold from $26.50 to $26.00 and set an “outperform” rating on the stock in a research report on Thursday. Royal Bank of Canada upped their price target on Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. CIBC raised their price objective on Barrick Gold from $23.00 to $27.00 and gave the stock an “outperformer” rating in a research report on Wednesday, July 10th. Jefferies Financial Group upped their target price on Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Finally, Argus raised Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $23.60.

Barrick Gold Stock Performance

Shares of NYSE GOLD opened at $21.02 on Friday. The stock has a market cap of $36.84 billion, a price-to-earnings ratio of 25.63, a PEG ratio of 0.49 and a beta of 0.55. Barrick Gold Corp has a 12 month low of $13.76 and a 12 month high of $21.21. The company has a 50 day simple moving average of $19.30 and a two-hundred day simple moving average of $17.74. The company has a current ratio of 3.01, a quick ratio of 2.31 and a debt-to-equity ratio of 0.15.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its quarterly earnings results on Monday, August 12th. The gold and copper producer reported $0.32 EPS for the quarter, beating the consensus estimate of $0.27 by $0.05. The company had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.13 billion. Barrick Gold had a net margin of 12.78% and a return on equity of 5.53%. The firm’s revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.19 earnings per share. As a group, analysts predict that Barrick Gold Corp will post 1.25 earnings per share for the current year.

Barrick Gold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date was Friday, August 30th. Barrick Gold’s payout ratio is presently 48.78%.

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.