Orion Portfolio Solutions LLC Sells 1,228 Shares of Barrick Gold Corp (NYSE:GOLD)

Orion Portfolio Solutions LLC lessened its stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 2.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 57,490 shares of the gold and copper producer’s stock after selling 1,228 shares during the period. Orion Portfolio Solutions LLC’s holdings in Barrick Gold were worth $891,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Crowley Wealth Management Inc. purchased a new position in shares of Barrick Gold in the 4th quarter worth approximately $26,000. First Horizon Advisors Inc. increased its position in shares of Barrick Gold by 619.7% during the fourth quarter. First Horizon Advisors Inc. now owns 3,073 shares of the gold and copper producer’s stock worth $48,000 after purchasing an additional 2,646 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new stake in shares of Barrick Gold during the 4th quarter valued at $65,000. Exchange Traded Concepts LLC boosted its position in shares of Barrick Gold by 196.9% in the 4th quarter. Exchange Traded Concepts LLC now owns 4,178 shares of the gold and copper producer’s stock worth $65,000 after purchasing an additional 2,771 shares in the last quarter. Finally, Principal Securities Inc. grew its stake in Barrick Gold by 119.4% during the 4th quarter. Principal Securities Inc. now owns 4,848 shares of the gold and copper producer’s stock worth $75,000 after buying an additional 2,638 shares during the last quarter. 62.85% of the stock is currently owned by institutional investors.

Barrick Gold Stock Performance

GOLD opened at $17.64 on Friday. The firm has a fifty day moving average price of $18.17 and a 200 day moving average price of $17.99. Barrick Gold Corp has a 1 year low of $15.11 and a 1 year high of $21.35. The stock has a market cap of $30.44 billion, a P/E ratio of 14.34, a P/E/G ratio of 0.44 and a beta of 0.58. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.89 and a quick ratio of 2.15.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its earnings results on Wednesday, February 12th. The gold and copper producer reported $0.46 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.46. Barrick Gold had a net margin of 16.59% and a return on equity of 6.76%. Equities research analysts anticipate that Barrick Gold Corp will post 1.47 earnings per share for the current year.

Barrick Gold Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend was Friday, February 28th. Barrick Gold’s payout ratio is 32.52%.

Barrick Gold announced that its Board of Directors has approved a stock repurchase program on Wednesday, February 12th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the gold and copper producer to buy up to 3.2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Scotiabank raised their price target on Barrick Gold from $19.00 to $20.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 18th. TD Securities dropped their target price on shares of Barrick Gold from $24.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Citigroup decreased their price target on shares of Barrick Gold from $21.00 to $17.00 and set a “neutral” rating for the company in a report on Monday, March 31st. UBS Group raised Barrick Gold from a “neutral” rating to a “buy” rating and set a $22.00 target price on the stock in a research report on Wednesday, March 5th. Finally, StockNews.com raised Barrick Gold from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $23.79.

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.