Barrick Gold Corp (NYSE:GOLD) Stock Holdings Decreased by TD Asset Management Inc.

TD Asset Management Inc. lessened its position in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 0.3% in the 4th quarter, Holdings Channel reports. The fund owned 17,675,877 shares of the gold and copper producer’s stock after selling 51,788 shares during the period. TD Asset Management Inc.’s holdings in Barrick Gold were worth $273,950,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Avior Wealth Management LLC boosted its position in shares of Barrick Gold by 24.1% in the third quarter. Avior Wealth Management LLC now owns 3,399 shares of the gold and copper producer’s stock worth $68,000 after buying an additional 659 shares during the period. Advisors Asset Management Inc. boosted its position in Barrick Gold by 2.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 57,896 shares of the gold and copper producer’s stock worth $1,152,000 after acquiring an additional 1,159 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Barrick Gold by 5.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,945,514 shares of the gold and copper producer’s stock valued at $98,469,000 after acquiring an additional 244,057 shares in the last quarter. Raymond James Trust N.A. increased its holdings in shares of Barrick Gold by 22.0% in the 3rd quarter. Raymond James Trust N.A. now owns 21,699 shares of the gold and copper producer’s stock valued at $432,000 after purchasing an additional 3,917 shares during the period. Finally, Meridian Wealth Management LLC purchased a new stake in shares of Barrick Gold in the third quarter worth approximately $298,000. Institutional investors and hedge funds own 62.85% of the company’s stock.

Barrick Gold Stock Performance

Shares of NYSE GOLD opened at $18.91 on Tuesday. The business’s 50-day simple moving average is $17.57 and its 200-day simple moving average is $18.03. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.15 and a current ratio of 2.89. Barrick Gold Corp has a 52 week low of $0.25 and a 52 week high of $21.35. The firm has a market cap of $32.62 billion, a price-to-earnings ratio of 15.37, a P/E/G ratio of 0.44 and a beta of 0.58.

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

Barrick Gold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date was Friday, February 28th. Barrick Gold’s dividend payout ratio is 32.52%.

Barrick Gold announced that its Board of Directors has initiated a stock buyback plan on Wednesday, February 12th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the gold and copper producer to purchase up to 3.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Scotiabank boosted their price objective on shares of Barrick Gold from $19.00 to $20.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 18th. CIBC downgraded shares of Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research note on Monday, November 25th. Citigroup reduced their price objective on Barrick Gold from $23.00 to $17.00 and set a “neutral” rating for the company in a research report on Friday, December 20th. Cibc World Mkts lowered Barrick Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 25th. Finally, Raymond James cut their price target on Barrick Gold from $25.00 to $24.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $23.75.

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.