GSA Capital Partners LLP Cuts Holdings in Barrick Gold Corp (NYSE:GOLD)

GSA Capital Partners LLP cut its holdings in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 3.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,739 shares of the gold and copper producer’s stock after selling 1,964 shares during the quarter. GSA Capital Partners LLP’s holdings in Barrick Gold were worth $1,109,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of GOLD. EdgePoint Investment Group Inc. boosted its stake in shares of Barrick Gold by 38.8% during the 1st quarter. EdgePoint Investment Group Inc. now owns 18,170,814 shares of the gold and copper producer’s stock worth $302,366,000 after acquiring an additional 5,080,510 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Barrick Gold by 4,713.3% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,144,456 shares of the gold and copper producer’s stock valued at $69,141,000 after buying an additional 4,058,351 shares in the last quarter. Letko Brosseau & Associates Inc. acquired a new stake in Barrick Gold in the 2nd quarter valued at about $66,820,000. Mizuho Markets Americas LLC acquired a new stake in shares of Barrick Gold in the second quarter valued at approximately $31,768,000. Finally, Sound Shore Management Inc. CT raised its position in shares of Barrick Gold by 48.2% during the 2nd quarter. Sound Shore Management Inc. CT now owns 4,455,551 shares of the gold and copper producer’s stock worth $74,319,000 after purchasing an additional 1,449,862 shares during the last quarter. Hedge funds and other institutional investors own 62.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on GOLD shares. TD Securities dropped their price target on Barrick Gold from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Friday, November 8th. UBS Group downgraded shares of Barrick Gold from a “buy” rating to a “neutral” rating and cut their target price for the company from $23.00 to $22.00 in a research note on Wednesday, October 30th. Royal Bank of Canada lifted their price target on shares of Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Jefferies Financial Group upped their price objective on shares of Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, September 13th. Finally, Argus raised shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research note on Thursday, August 29th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $23.90.

Barrick Gold Price Performance

GOLD stock opened at $16.85 on Friday. The company has a quick ratio of 2.06, a current ratio of 2.65 and a debt-to-equity ratio of 0.14. The stock’s 50 day moving average is $19.79 and its two-hundred day moving average is $18.48. The company has a market capitalization of $29.45 billion, a PE ratio of 18.24, a P/E/G ratio of 0.40 and a beta of 0.56. Barrick Gold Corp has a 52-week low of $13.76 and a 52-week high of $21.35.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its earnings results on Monday, August 12th. The gold and copper producer reported $0.32 EPS for the quarter, topping the consensus estimate of $0.27 by $0.05. Barrick Gold had a net margin of 13.19% and a return on equity of 5.82%. The firm had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same quarter in the prior year, the firm earned $0.19 EPS. Barrick Gold’s quarterly revenue was up 11.6% on a year-over-year basis. Analysts predict that Barrick Gold Corp will post 1.29 earnings per share for the current fiscal year.

Barrick Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a dividend of $0.10 per share. The ex-dividend date is Friday, November 29th. This represents a $0.40 annualized dividend and a dividend yield of 2.37%. Barrick Gold’s dividend payout ratio (DPR) is 43.01%.

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.