Allianz Asset Management GmbH Sells 64,270 Shares of Barrick Gold Corp (NYSE:GOLD)

Allianz Asset Management GmbH lessened its position in shares of Barrick Gold Corp (NYSE:GOLDFree Report) (TSE:ABX) by 24.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 198,358 shares of the gold and copper producer’s stock after selling 64,270 shares during the quarter. Allianz Asset Management GmbH’s holdings in Barrick Gold were worth $3,601,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Principal Securities Inc. purchased a new stake in Barrick Gold during the 4th quarter valued at about $26,000. EverSource Wealth Advisors LLC grew its stake in shares of Barrick Gold by 175.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,794 shares of the gold and copper producer’s stock worth $32,000 after purchasing an additional 1,143 shares during the period. Bruce G. Allen Investments LLC acquired a new position in shares of Barrick Gold in the 4th quarter valued at $35,000. Mark Sheptoff Financial Planning LLC purchased a new stake in Barrick Gold during the fourth quarter worth $45,000. Finally, Cary Street Partners Investment Advisory LLC grew its position 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 valued at $57,000 after buying an additional 1,142 shares during the period. Institutional investors own 62.85% of the company’s stock.

Barrick Gold Stock Performance

GOLD opened at $17.33 on Friday. The firm has a market capitalization of $30.43 billion, a PE ratio of 21.13, a PEG ratio of 0.41 and a beta of 0.59. Barrick Gold Corp has a twelve month low of $13.76 and a twelve month high of $18.95. The firm’s 50-day moving average price is $17.12 and its 200 day moving average price is $16.53. 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 (NYSE:GOLDGet Free Report) (TSE:ABX) last posted its earnings results on Wednesday, May 1st. The gold and copper producer reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.04. The company had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.74 billion. Barrick Gold had a net margin of 12.58% and a return on equity of 4.88%. Barrick Gold’s revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.14 EPS. As a group, sell-side analysts expect that Barrick Gold Corp will post 1.06 EPS for the current fiscal year.

Barrick Gold Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.31%. This is a positive change from Barrick Gold’s previous quarterly dividend of $0.07. The ex-dividend date is Friday, May 31st. Barrick Gold’s payout ratio is presently 48.78%.

Wall Street Analysts Forecast Growth

GOLD has been the topic of a number of analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $18.00 target price on shares of Barrick Gold in a research report on Monday, March 4th. Argus restated a “hold” rating on shares of Barrick Gold in a research report on Monday, February 26th. StockNews.com raised Barrick Gold from a “hold” rating to a “buy” rating in a research note on Wednesday, February 21st. TD Securities dropped their price target on shares of Barrick Gold from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Friday, February 16th. Finally, Scotiabank reduced their price objective on shares of 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 equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Barrick Gold currently has an average rating of “Moderate Buy” and a consensus target price of $21.60.

Check Out Our Latest Report on Barrick Gold

About Barrick Gold

(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.

Featured Articles

Want to see what other hedge funds are holding GOLD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Barrick Gold Corp (NYSE:GOLDFree Report) (TSE:ABX).

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

Receive News & Ratings for Barrick Gold Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Barrick Gold and related companies with MarketBeat.com's FREE daily email newsletter.