Barrick Gold Corp (NYSE:GOLD) Shares Sold by TD Asset Management Inc.

TD Asset Management Inc. decreased its holdings in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 0.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). 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. owned about 1.02% of Barrick Gold worth $273,950,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of GOLD. Chelsea Counsel Co. grew its position in shares of Barrick Gold by 1.4% during the 3rd quarter. Chelsea Counsel Co. now owns 42,973 shares of the gold and copper producer’s stock valued at $855,000 after buying an additional 590 shares during the last quarter. Avior Wealth Management LLC grew its holdings in shares of Barrick Gold by 24.1% during the third quarter. Avior Wealth Management LLC now owns 3,399 shares of the gold and copper producer’s stock valued at $68,000 after purchasing an additional 659 shares during the last quarter. VisionPoint Advisory Group LLC raised its position in shares of Barrick Gold by 6.7% during the 4th quarter. VisionPoint Advisory Group LLC now owns 14,051 shares of the gold and copper producer’s stock worth $224,000 after purchasing an additional 880 shares during the period. Bangor Savings Bank lifted its holdings in shares of Barrick Gold by 4.5% in the 4th quarter. Bangor Savings Bank now owns 22,025 shares of the gold and copper producer’s stock worth $341,000 after purchasing an additional 956 shares during the last quarter. Finally, Confluence Investment Management LLC boosted its position in Barrick Gold by 3.4% during the 4th quarter. Confluence Investment Management LLC now owns 29,751 shares of the gold and copper producer’s stock valued at $461,000 after purchasing an additional 974 shares during the period. 62.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on GOLD. Berenberg Bank raised their target price on Barrick Gold from $37.00 to $38.00 in a research note on Tuesday, November 26th. Scotiabank boosted their target price on shares of Barrick Gold from $19.00 to $20.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 18th. CIBC cut shares of Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research report on Monday, November 25th. Bank of America cut Barrick Gold from a “buy” rating to a “neutral” rating and cut their price target for the company from $21.00 to $18.00 in a report on Monday, January 27th. Finally, Citigroup lowered their target price on Barrick Gold from $23.00 to $17.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $23.75.

Barrick Gold Price Performance

NYSE:GOLD opened at $18.91 on Tuesday. The company has a quick ratio of 2.15, a current ratio of 2.89 and a debt-to-equity ratio of 0.14. The business’s 50-day moving average price is $17.57 and its 200 day moving average price is $18.03. 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 P/E ratio of 15.37, a PEG ratio of 0.44 and a beta of 0.58.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its quarterly earnings data 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%. As a group, sell-side analysts predict that Barrick Gold Corp will post 1.47 earnings per share for the current fiscal year.

Barrick Gold announced that its Board of Directors has initiated a share repurchase program on Wednesday, February 12th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the gold and copper producer to repurchase up to 3.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Barrick Gold Announces Dividend

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

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.