Levin Capital Strategies L.P. Sells 4,920 Shares of Barrick Gold Corp (NYSE:GOLD)

Levin Capital Strategies L.P. cut its stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 3.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 148,294 shares of the gold and copper producer’s stock after selling 4,920 shares during the period. Levin Capital Strategies L.P.’s holdings in Barrick Gold were worth $2,474,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Wellington Management Group LLP grew its stake in shares of Barrick Gold by 58.4% in the fourth quarter. Wellington Management Group LLP now owns 100,680,644 shares of the gold and copper producer’s stock worth $1,821,963,000 after purchasing an additional 37,128,653 shares during the last quarter. Vanguard Group Inc. increased its position in Barrick Gold by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 64,761,067 shares of the gold and copper producer’s stock valued at $1,077,624,000 after purchasing an additional 1,089,572 shares during the period. First Eagle Investment Management LLC increased its position in Barrick Gold by 31.6% during the 1st quarter. First Eagle Investment Management LLC now owns 58,820,050 shares of the gold and copper producer’s stock valued at $978,766,000 after purchasing an additional 14,138,639 shares during the period. Capital World Investors lifted its position in shares of Barrick Gold by 16.4% in the 4th quarter. Capital World Investors now owns 45,479,229 shares of the gold and copper producer’s stock worth $821,790,000 after purchasing an additional 6,417,244 shares during the period. Finally, Capital International Investors boosted its stake in shares of Barrick Gold by 4.7% during the 4th quarter. Capital International Investors now owns 18,242,364 shares of the gold and copper producer’s stock valued at $330,004,000 after purchasing an additional 823,330 shares in the last quarter. 62.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GOLD has been the subject of several recent research reports. Argus raised Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Thursday, August 29th. Scotiabank raised their price objective on Barrick Gold from $23.00 to $25.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. CIBC lifted their price target on Barrick Gold from $23.00 to $27.00 and gave the stock an “outperformer” rating in a research report on Wednesday, July 10th. Finally, Jefferies Financial Group increased their price objective on shares of Barrick Gold from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, July 12th. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $22.80.

Barrick Gold Stock Performance

GOLD opened at $19.28 on Tuesday. The firm’s 50-day moving average price is $18.71 and its 200-day moving average price is $17.31. The company has a market cap of $33.79 billion, a P/E ratio of 23.51, a price-to-earnings-growth ratio of 0.47 and a beta of 0.55. Barrick Gold Corp has a 52-week low of $13.76 and a 52-week high of $20.89. The company has a quick ratio of 2.49, a current ratio of 3.32 and a debt-to-equity ratio of 0.15.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its earnings results on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.05. The business had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.13 billion. Barrick Gold had a net margin of 12.78% and a return on equity of 5.55%. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.19 earnings per share. As a group, equities analysts anticipate that Barrick Gold Corp will post 1.22 EPS for the current fiscal year.

Barrick Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be given a $0.10 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.40 annualized dividend and a yield of 2.07%. Barrick Gold’s payout ratio is 48.78%.

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.