Greenleaf Trust Sells 1,766 Shares of Barrick Gold Corp (NYSE:GOLD)

Greenleaf Trust lowered its stake in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 6.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 24,281 shares of the gold and copper producer’s stock after selling 1,766 shares during the quarter. Greenleaf Trust’s holdings in Barrick Gold were worth $439,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in GOLD. Wellington Management Group LLP grew its position in Barrick Gold by 35.0% during the third quarter. Wellington Management Group LLP now owns 63,551,991 shares of the gold and copper producer’s stock valued at $925,121,000 after buying an additional 16,485,756 shares during the period. FMR LLC lifted its holdings in Barrick Gold by 12.2% during the third quarter. FMR LLC now owns 43,399,480 shares of the gold and copper producer’s stock valued at $631,228,000 after purchasing an additional 4,731,559 shares during the last quarter. Ninety One UK Ltd lifted its holdings in Barrick Gold by 13.2% during the fourth quarter. Ninety One UK Ltd now owns 16,022,022 shares of the gold and copper producer’s stock valued at $289,838,000 after purchasing an additional 1,870,059 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in Barrick Gold by 10.9% during the third quarter. Mackenzie Financial Corp now owns 17,995,217 shares of the gold and copper producer’s stock valued at $255,406,000 after purchasing an additional 1,769,110 shares during the last quarter. Finally, Addenda Capital Inc. lifted its holdings in Barrick Gold by 88.1% during 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 last quarter. Institutional investors own 62.85% of the company’s stock.

Barrick Gold Stock Up 1.6 %

Shares of Barrick Gold stock opened at $16.69 on Wednesday. The company’s 50 day moving average price is $15.99 and its 200-day moving average price is $16.28. Barrick Gold Corp has a 52-week low of $13.76 and a 52-week high of $20.75. The stock has a market capitalization of $29.30 billion, a price-to-earnings ratio of 23.18, a P/E/G ratio of 1.59 and a beta of 0.58. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.40 and a current ratio of 3.16.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its quarterly 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 company had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same quarter last year, the firm posted $0.13 earnings per share. Equities research analysts forecast that Barrick Gold Corp will post 0.9 EPS for the current year.

Barrick Gold Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were paid a $0.074 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date was Wednesday, February 28th. Barrick Gold’s payout ratio is 55.56%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on GOLD shares. 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. Raymond James reduced their price target on shares of Barrick Gold from $24.00 to $23.00 and set an “outperform” rating on the stock in a research report on Thursday, February 15th. Scotiabank reduced their price target on shares of Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, February 20th. BMO Capital Markets reduced their price target on shares of Barrick Gold from $27.00 to $26.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 17th. Finally, Jefferies Financial Group began coverage on shares of Barrick Gold in a research report on Thursday, February 29th. They set a “buy” rating and a $21.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Barrick Gold presently has a consensus 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.