Duality Advisers LP Sells 31,271 Shares of Barrick Gold Corp (NYSE:GOLD)

Duality Advisers LP reduced its holdings in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 39.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 48,835 shares of the gold and copper producer’s stock after selling 31,271 shares during the quarter. Duality Advisers LP’s holdings in Barrick Gold were worth $883,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Addenda Capital Inc. lifted its holdings in shares of 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 in the last quarter. Cheyne Capital Management UK LLP purchased a new stake in Barrick Gold during the third quarter valued at $2,910,000. Klein Pavlis & Peasley Financial Inc. purchased a new stake in Barrick Gold during the fourth quarter valued at $1,331,000. DAVENPORT & Co LLC increased its position in Barrick Gold by 17.9% during the fourth quarter. DAVENPORT & Co LLC now owns 73,627 shares of the gold and copper producer’s stock valued at $1,332,000 after acquiring an additional 11,166 shares during the last quarter. Finally, Gateway Investment Advisers LLC increased its position in Barrick Gold by 204.2% during the fourth quarter. Gateway Investment Advisers LLC now owns 249,017 shares of the gold and copper producer’s stock valued at $4,505,000 after acquiring an additional 167,145 shares during the last quarter. 62.85% of the stock is owned by institutional investors.

Barrick Gold Price Performance

Shares of Barrick Gold stock opened at $16.51 on Thursday. The stock has a 50 day moving average of $16.04 and a 200 day moving average of $16.28. Barrick Gold Corp has a 12 month low of $13.76 and a 12 month high of $20.75. The firm has a market cap of $28.99 billion, a PE ratio of 22.93, a PEG ratio of 1.52 and a beta of 0.58. 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 posted its quarterly earnings data on Wednesday, February 14th. The gold and copper producer reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.06. Barrick Gold had a return on equity of 4.64% and a net margin of 11.16%. The business had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same period last year, the company earned $0.13 EPS. On average, research analysts expect that Barrick Gold Corp will post 0.9 EPS for the current fiscal 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 dividend of $0.074 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date was Wednesday, February 28th. Barrick Gold’s dividend payout ratio is currently 55.56%.

Wall Street Analyst Weigh In

A number of analysts recently commented on GOLD shares. StockNews.com upgraded Barrick Gold from a “hold” rating to a “buy” rating in a research report on Wednesday, February 21st. Argus reiterated a “hold” rating on shares of Barrick Gold in a research report on Monday, February 26th. CIBC reduced their price target on Barrick Gold from $27.00 to $23.00 and set an “outperform” rating for the company in a research report on Wednesday, February 7th. BMO Capital Markets reduced their price target on Barrick Gold from $27.00 to $26.00 and set an “outperform” rating for the company in a research report on Wednesday, April 17th. Finally, Scotiabank cut their target price on Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating for the company in a research report on Tuesday, February 20th. One 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. 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.