Quadrant Capital Group LLC Trims Stock Position in Barrick Gold Corp (NYSE:GOLD)

Quadrant Capital Group LLC trimmed its stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 25.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,971 shares of the gold and copper producer’s stock after selling 1,703 shares during the period. Quadrant Capital Group LLC’s holdings in Barrick Gold were worth $90,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of GOLD. Principal Securities Inc. purchased a new position in Barrick Gold during the fourth quarter valued at $26,000. Bruce G. Allen Investments LLC purchased a new position in Barrick Gold during the 4th quarter valued at about $35,000. Cary Street Partners Investment Advisory LLC boosted its stake in Barrick Gold by 41.1% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 3,919 shares of the gold and copper producer’s stock worth $57,000 after acquiring an additional 1,142 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. purchased a new stake in Barrick Gold in the fourth quarter worth about $61,000. Finally, Headlands Technologies LLC bought a new position in shares of Barrick Gold during the third quarter valued at approximately $75,000. Institutional investors own 62.85% of the company’s stock.

Barrick Gold Trading Up 0.5 %

Shares of GOLD stock opened at $17.02 on Friday. The company has a current ratio of 3.32, a quick ratio of 2.49 and a debt-to-equity ratio of 0.15. Barrick Gold Corp has a 12-month low of $13.76 and a 12-month high of $18.95. The stock has a market capitalization of $29.88 billion, a P/E ratio of 20.76, a P/E/G ratio of 0.45 and a beta of 0.59. The firm’s 50 day moving average is $16.89 and its 200 day moving average is $16.44.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its quarterly earnings data on Wednesday, May 1st. The gold and copper producer reported $0.19 EPS for the quarter, topping the consensus estimate of $0.15 by $0.04. Barrick Gold had a return on equity of 4.88% and a net margin of 12.58%. The company had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.74 billion. During the same quarter in the previous year, the company posted $0.14 earnings per share. Barrick Gold’s revenue was up 3.9% compared to the same quarter last year. Research analysts expect that Barrick Gold Corp will post 1.01 earnings per share for the current year.

Barrick Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 31st will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend is Friday, May 31st. This is a boost from Barrick Gold’s previous quarterly dividend of $0.07. Barrick Gold’s dividend payout ratio is 48.78%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on GOLD shares. National Bank Financial reissued a “sector perform overweight” rating on shares of Barrick Gold in a research report on Monday, April 8th. Royal Bank of Canada reissued an “outperform” rating and issued a $18.00 target price on shares of Barrick Gold in a report on Monday, March 4th. Raymond James reduced their price target on Barrick Gold from $24.00 to $23.00 and set an “outperform” rating for the company in a report on Thursday, February 15th. Jefferies Financial Group initiated coverage on shares of Barrick Gold in a research note on Thursday, February 29th. They issued a “buy” rating and a $21.00 price target on the stock. Finally, BMO Capital Markets reduced their price objective on shares of Barrick Gold from $27.00 to $26.00 and set an “outperform” rating for the company in a research note on Wednesday, April 17th. One analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $21.60.

About Barrick Gold

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.