Sapient Capital LLC Decreases Stock Position in Barrick Gold Corp (NYSE:GOLD)

Sapient Capital LLC cut its holdings in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 8.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 111,513 shares of the gold and copper producer’s stock after selling 10,806 shares during the quarter. Sapient Capital LLC’s holdings in Barrick Gold were worth $1,856,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Addenda Capital Inc. increased its holdings in shares of Barrick Gold by 88.1% in the fourth quarter. Addenda Capital Inc. now owns 3,105,335 shares of the gold and copper producer’s stock valued at $56,176,000 after purchasing an additional 1,454,220 shares during the period. Cheyne Capital Management UK LLP acquired a new position in shares of Barrick Gold in the third quarter valued at about $2,910,000. Klein Pavlis & Peasley Financial Inc. acquired a new stake in Barrick Gold during the fourth quarter worth about $1,331,000. DAVENPORT & Co LLC grew its holdings in Barrick Gold by 17.9% during the fourth quarter. DAVENPORT & Co LLC now owns 73,627 shares of the gold and copper producer’s stock worth $1,332,000 after acquiring an additional 11,166 shares during the period. Finally, Gateway Investment Advisers LLC grew its holdings in Barrick Gold by 204.2% during the fourth quarter. Gateway Investment Advisers LLC now owns 249,017 shares of the gold and copper producer’s stock worth $4,505,000 after acquiring an additional 167,145 shares during the period. 62.85% of the stock is currently owned by hedge funds and other institutional investors.

Barrick Gold Trading Down 4.0 %

Barrick Gold stock traded down $0.68 during trading on Tuesday, reaching $16.64. 30,826,022 shares of the company were exchanged, compared to its average volume of 23,117,107. Barrick Gold Corp has a 52-week low of $13.76 and a 52-week high of $20.75. The company has a market capitalization of $29.21 billion, a P/E ratio of 23.10, a PEG ratio of 1.50 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. The stock’s 50 day simple moving average is $16.23 and its two-hundred day simple moving average is $16.34.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its quarterly earnings data on Wednesday, February 14th. The gold and copper producer reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.06. Barrick Gold had a return on equity of 4.64% and a net margin of 11.16%. The firm had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter last year, the business posted $0.13 earnings per share. On average, equities research analysts expect that Barrick Gold Corp will post 0.95 earnings per share for the current fiscal year.

Barrick Gold Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were given a $0.074 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.30 dividend on an annualized basis and a yield of 1.78%. Barrick Gold’s dividend payout ratio is currently 55.56%.

Wall Street Analysts Forecast Growth

GOLD has been the topic of several analyst reports. CIBC dropped their target price on Barrick Gold from $27.00 to $23.00 and set an “outperform” rating on the stock in a report on Wednesday, February 7th. National Bank Financial reissued a “sector perform overweight” rating on shares of Barrick Gold in a report on Monday, April 8th. Jefferies Financial Group started coverage on Barrick Gold in a report on Thursday, February 29th. They issued a “buy” rating and a $21.00 price objective on the stock. Raymond James dropped their price objective on Barrick Gold from $24.00 to $23.00 and set an “outperform” rating on the stock in a report on Thursday, February 15th. Finally, BMO Capital Markets decreased their target price on Barrick Gold from $27.00 to $26.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 17th. One 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 MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $20.06.

Barrick Gold 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.