Barrick Gold Corp (NYSE:GOLD) Shares Sold by SouthState Corp

SouthState Corp lessened its holdings in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 1.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 449,086 shares of the gold and copper producer’s stock after selling 8,856 shares during the quarter. SouthState Corp’s holdings in Barrick Gold were worth $8,124,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bruce G. Allen Investments LLC acquired a new position in Barrick Gold in the fourth quarter valued at approximately $35,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in Barrick Gold during the 4th quarter worth approximately $61,000. Cary Street Partners Investment Advisory LLC lifted its position 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 valued at $57,000 after acquiring an additional 1,142 shares during the period. Headlands Technologies LLC bought a new stake in shares of Barrick Gold in the 3rd quarter worth $75,000. Finally, Fifth Third Bancorp grew its position in Barrick Gold by 13.1% during the third quarter. Fifth Third Bancorp now owns 6,067 shares of the gold and copper producer’s stock valued at $88,000 after buying an additional 702 shares during the period. 62.85% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on GOLD. Argus reaffirmed a “hold” rating on shares of Barrick Gold in a research note on Monday, February 26th. Jefferies Financial Group started coverage on Barrick Gold in a research report on Thursday, February 29th. They set a “buy” rating and a $21.00 price target for the company. CIBC decreased 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. Sanford C. Bernstein downgraded Barrick Gold from an “outperform” rating to a “market perform” rating in a report on Monday, January 8th. 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $20.06.

Barrick Gold Stock Up 1.2 %

NYSE:GOLD traded up $0.19 during trading hours on Thursday, reaching $16.55. 18,864,117 shares of the company traded hands, compared to its average volume of 23,211,475. The company has a current ratio of 3.16, a quick ratio of 2.40 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $29.06 billion, a P/E ratio of 22.97, a P/E/G ratio of 1.47 and a beta of 0.59. Barrick Gold Corp has a 1 year low of $13.76 and a 1 year high of $20.75. The business’s 50-day moving average price is $16.26 and its two-hundred day moving average price is $16.34.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its quarterly earnings results on Wednesday, May 1st. The gold and copper producer reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.04. The company had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.74 billion. Barrick Gold had a return on equity of 4.64% and a net margin of 11.16%. The firm’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.14 EPS. Analysts predict that Barrick Gold Corp will post 0.95 earnings per share for the current year.

Barrick Gold Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, May 31st will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.42%. This is a positive change from Barrick Gold’s previous quarterly dividend of $0.07. Barrick Gold’s dividend payout ratio (DPR) is currently 55.56%.

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.