Barrick Gold Corp (NYSE:GOLD) Shares Sold by Regal Partners Ltd

Regal Partners Ltd trimmed its position in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 12.3% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,345,561 shares of the gold and copper producer’s stock after selling 188,664 shares during the period. Barrick Gold accounts for about 2.4% of Regal Partners Ltd’s investment portfolio, making the stock its 12th biggest holding. Regal Partners Ltd’s holdings in Barrick Gold were worth $26,763,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Barrick Gold by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 64,761,067 shares of the gold and copper producer’s stock worth $1,077,624,000 after purchasing an additional 1,089,572 shares during the period. EdgePoint Investment Group Inc. boosted its stake in Barrick Gold by 3.7% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 18,837,028 shares of the gold and copper producer’s stock valued at $314,254,000 after purchasing an additional 666,214 shares during the period. National Bank of Canada FI grew its position in Barrick Gold by 9.0% in the 1st quarter. National Bank of Canada FI now owns 14,887,656 shares of the gold and copper producer’s stock worth $251,929,000 after purchasing an additional 1,231,184 shares during the last quarter. CIBC Asset Management Inc increased its stake in shares of Barrick Gold by 3.3% in the second quarter. CIBC Asset Management Inc now owns 14,546,530 shares of the gold and copper producer’s stock valued at $242,491,000 after purchasing an additional 461,406 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Barrick Gold by 16.5% during the second quarter. Dimensional Fund Advisors LP now owns 7,471,407 shares of the gold and copper producer’s stock worth $124,635,000 after buying an additional 1,057,886 shares during the period. 62.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on GOLD shares. TD Securities lowered their target price on Barrick Gold from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Argus raised shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a report on Thursday, August 29th. Royal Bank of Canada boosted their price target on shares of Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. UBS Group cut shares of Barrick Gold from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $23.00 to $22.00 in a research report on Wednesday, October 30th. Finally, Jefferies Financial Group raised their price objective on Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Barrick Gold currently has an average rating of “Moderate Buy” and an average price target of $23.90.

Barrick Gold Trading Down 1.2 %

Shares of NYSE GOLD opened at $16.81 on Thursday. The business has a 50-day moving average price of $19.84 and a two-hundred day moving average price of $18.49. The company has a current ratio of 2.65, a quick ratio of 2.06 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $29.38 billion, a PE ratio of 18.08, a PEG ratio of 0.40 and a beta of 0.56. Barrick Gold Corp has a one year low of $13.76 and a one year high of $21.35.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its quarterly earnings data on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. Barrick Gold had a return on equity of 5.82% and a net margin of 13.19%. The firm had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same quarter last year, the firm earned $0.19 earnings per share. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. As a group, analysts predict that Barrick Gold Corp will post 1.29 earnings per share for the current fiscal year.

Barrick Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a yield of 2.38%. Barrick Gold’s dividend payout ratio is currently 43.01%.

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.