Barrick Gold Corp (NYSE:GOLD) Shares Sold by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC cut its holdings in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 5.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,020 shares of the gold and copper producer’s stock after selling 926 shares during the period. Concurrent Investment Advisors LLC’s holdings in Barrick Gold were worth $248,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. New York State Common Retirement Fund purchased a new stake in shares of Barrick Gold in the fourth quarter valued at $2,614,000. Atria Wealth Solutions Inc. raised its stake in Barrick Gold by 48.1% in the 4th quarter. Atria Wealth Solutions Inc. now owns 33,366 shares of the gold and copper producer’s stock valued at $517,000 after purchasing an additional 10,840 shares during the last quarter. D.A. Davidson & CO. lifted its holdings in Barrick Gold by 32.2% in the 4th quarter. D.A. Davidson & CO. now owns 99,048 shares of the gold and copper producer’s stock valued at $1,535,000 after purchasing an additional 24,145 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Barrick Gold by 10.7% during the 4th quarter. Principal Financial Group Inc. now owns 535,461 shares of the gold and copper producer’s stock worth $8,299,000 after purchasing an additional 51,848 shares during the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC purchased a new stake in shares of Barrick Gold during the fourth quarter worth about $165,000. 62.85% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

GOLD has been the topic of a number of analyst reports. Cibc World Mkts lowered shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 25th. UBS Group cut Barrick Gold from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $23.00 to $22.00 in a report on Wednesday, October 30th. Berenberg Bank upped their target price on Barrick Gold from $37.00 to $38.00 in a research note on Tuesday, November 26th. Citigroup decreased their price target on Barrick Gold from $23.00 to $17.00 and set a “neutral” rating on the stock in a research note on Friday, December 20th. Finally, Raymond James dropped their price objective on shares of Barrick Gold from $25.00 to $24.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $23.75.

Barrick Gold Trading Down 1.0 %

Shares of GOLD opened at $18.09 on Wednesday. Barrick Gold Corp has a one year low of $14.27 and a one year high of $21.35. The stock has a 50-day moving average price of $16.46 and a 200 day moving average price of $18.21. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.15 and a current ratio of 2.89. The company has a market capitalization of $31.23 billion, a P/E ratio of 14.70, a P/E/G ratio of 0.44 and a beta of 0.55.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its 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%. Sell-side analysts forecast that Barrick Gold Corp will post 1.47 EPS for the current fiscal year.

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

Barrick Gold Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.21%. The ex-dividend date is Friday, February 28th. Barrick Gold’s payout ratio is currently 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.