Sumitomo Mitsui Trust Holdings Inc. Buys 30,836 Shares of Barrick Gold Corp (NYSE:GOLD)

Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 0.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,078,238 shares of the gold and copper producer’s stock after buying an additional 30,836 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Barrick Gold were worth $92,047,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of GOLD. Creative Financial Designs Inc. ADV lifted its position in Barrick Gold by 7.1% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 9,100 shares of the gold and copper producer’s stock valued at $165,000 after purchasing an additional 600 shares during the last quarter. Stratos Wealth Partners LTD. lifted its position in Barrick Gold by 5.3% in the third quarter. Stratos Wealth Partners LTD. now owns 13,714 shares of the gold and copper producer’s stock valued at $200,000 after purchasing an additional 689 shares during the last quarter. Legacy Wealth Asset Management LLC lifted its position in Barrick Gold by 2.9% in the third quarter. Legacy Wealth Asset Management LLC now owns 24,555 shares of the gold and copper producer’s stock valued at $357,000 after purchasing an additional 694 shares during the last quarter. A. D. Beadell Investment Counsel Inc. lifted its position in Barrick Gold by 1.2% in the fourth quarter. A. D. Beadell Investment Counsel Inc. now owns 59,825 shares of the gold and copper producer’s stock valued at $1,082,000 after purchasing an additional 700 shares during the last quarter. Finally, Fifth Third Bancorp lifted its position in Barrick Gold by 13.1% in the third quarter. Fifth Third Bancorp now owns 6,067 shares of the gold and copper producer’s stock valued at $88,000 after purchasing an additional 702 shares during the last quarter. 62.85% of the stock is currently owned by institutional investors.

Barrick Gold Trading Down 5.1 %

NYSE GOLD opened at $16.48 on Wednesday. Barrick Gold Corp has a 12 month low of $13.76 and a 12 month high of $20.75. The stock has a market cap of $28.93 billion, a P/E ratio of 22.89, a P/E/G ratio of 1.63 and a beta of 0.58. The stock’s fifty day moving average price is $15.78 and its 200-day moving average price is $16.20. The company has a current ratio of 3.16, a quick ratio of 2.40 and a debt-to-equity ratio of 0.15.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its earnings results 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 analysts’ expectations of $3.13 billion. During the same period in the prior year, the firm posted $0.13 earnings per share. As a group, equities analysts forecast that Barrick Gold Corp will post 0.91 EPS for the current fiscal 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 paid a $0.074 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.80%. Barrick Gold’s dividend payout ratio is currently 55.56%.

Analyst Ratings Changes

Several brokerages have weighed in on GOLD. Raymond James lowered their price objective on Barrick Gold from $24.00 to $23.00 and set an “outperform” rating for the company in a research report on Thursday, February 15th. BMO Capital Markets decreased their target price on Barrick Gold from $26.00 to $24.00 and set an “outperform” rating for the company in a report on Thursday, February 15th. Scotiabank decreased their target price on Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating for the company in a report on Tuesday, February 20th. Argus restated a “hold” rating on shares of Barrick Gold in a report on Monday, February 26th. Finally, CIBC decreased their target price on Barrick Gold from $27.00 to $23.00 and set an “outperform” rating for the company in a report on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $22.05.

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.