Portside Wealth Group LLC Sells 7,015 Shares of Barrick Gold Corp (NYSE:GOLD)

Portside Wealth Group LLC cut its position in shares of Barrick Gold Corp (NYSE:GOLDFree Report) (TSE:ABX) by 11.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 53,905 shares of the gold and copper producer’s stock after selling 7,015 shares during the quarter. Portside Wealth Group LLC’s holdings in Barrick Gold were worth $975,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fairfield Bush & CO. purchased a new stake in shares of Barrick Gold in the 1st quarter worth about $42,000. Acadian Asset Management LLC bought a new stake in shares of Barrick Gold in the 1st quarter worth approximately $647,000. Blair William & Co. IL grew its stake in shares of Barrick Gold by 288.8% in the 1st quarter. Blair William & Co. IL now owns 90,896 shares of the gold and copper producer’s stock worth $2,230,000 after buying an additional 67,516 shares during the last quarter. Sei Investments Co. increased its position in Barrick Gold by 97.2% during the 1st quarter. Sei Investments Co. now owns 230,278 shares of the gold and copper producer’s stock valued at $5,651,000 after buying an additional 113,486 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its holdings in Barrick Gold by 17.7% in the first quarter. Allianz Asset Management GmbH now owns 1,007,571 shares of the gold and copper producer’s stock worth $24,620,000 after acquiring an additional 151,763 shares in the last quarter. 58.20% of the stock is owned by hedge funds and other institutional investors.

Barrick Gold Stock Down 1.8 %

NYSE GOLD opened at $15.52 on Monday. Barrick Gold Corp has a 52 week low of $13.76 and a 52 week high of $20.75. The firm has a market capitalization of $27.25 billion, a price-to-earnings ratio of 21.56, a PEG ratio of 1.21 and a beta of 0.57. The company has a quick ratio of 2.40, a current ratio of 3.16 and a debt-to-equity ratio of 0.15. The company has a fifty day moving average of $15.31 and a two-hundred day moving average of $16.04.

Barrick Gold (NYSE:GOLDGet Free Report) (TSE:ABX) last posted its quarterly earnings data on Wednesday, February 14th. The gold and copper producer reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.06. Barrick Gold had a net margin of 11.16% and a return on equity of 4.64%. The company had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same period in the prior year, the company posted $0.13 EPS. On average, analysts predict that Barrick Gold Corp will post 0.9 earnings per share for the current year.

Barrick Gold Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were given a dividend of $0.074 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date was Wednesday, February 28th. Barrick Gold’s dividend payout ratio (DPR) is presently 55.56%.

Wall Street Analysts Forecast Growth

GOLD has been the subject of several analyst reports. Jefferies Financial Group assumed coverage on Barrick Gold in a report on Thursday, February 29th. They set a “buy” rating and a $21.00 price target for the company. CIBC dropped their target price on shares of Barrick Gold from $27.00 to $23.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 7th. Citigroup reduced their price target on shares of Barrick Gold from $20.00 to $18.00 and set a “neutral” rating for the company in a research report on Tuesday, November 28th. Sanford C. Bernstein cut Barrick Gold from an “outperform” rating to a “market perform” rating in a research report on Monday, January 8th. Finally, TD Securities cut their target price on Barrick Gold from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Friday, February 16th. One analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Barrick Gold currently has a consensus rating of “Moderate Buy” and an average target price of $22.05.

Get Our Latest Report on Barrick Gold

Barrick Gold Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Barrick Gold (NYSE:GOLD)

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