Brown Brothers Harriman & Co. Sells 9,267 Shares of Barrick Gold Corp (NYSE:GOLD)

Brown Brothers Harriman & Co. lessened its position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 53.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,000 shares of the gold and copper producer’s stock after selling 9,267 shares during the period. Brown Brothers Harriman & Co.’s holdings in Barrick Gold were worth $124,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Chelsea Counsel Co. lifted its stake in Barrick Gold by 1.4% during the third quarter. Chelsea Counsel Co. now owns 42,973 shares of the gold and copper producer’s stock worth $855,000 after purchasing an additional 590 shares during the last quarter. VisionPoint Advisory Group LLC raised its holdings 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 buying an additional 880 shares in the last quarter. Bangor Savings Bank lifted its position in shares of Barrick Gold by 4.5% during the 4th quarter. Bangor Savings Bank now owns 22,025 shares of the gold and copper producer’s stock worth $341,000 after buying an additional 956 shares during the last quarter. Confluence Investment Management LLC boosted its stake in Barrick Gold by 3.4% in the fourth quarter. Confluence Investment Management LLC now owns 29,751 shares of the gold and copper producer’s stock valued at $461,000 after buying an additional 974 shares in the last quarter. Finally, Mesirow Financial Investment Management Inc. grew its position in Barrick Gold by 3.5% in the fourth quarter. Mesirow Financial Investment Management Inc. now owns 30,510 shares of the gold and copper producer’s stock valued at $473,000 after acquiring an additional 1,035 shares during the last quarter. Institutional investors and hedge funds own 62.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on GOLD shares. Scotiabank increased their target price on shares of Barrick Gold from $19.00 to $20.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 18th. Stifel Canada upgraded shares of Barrick Gold to a “strong-buy” rating in a research report on Wednesday, March 19th. Citigroup decreased their target price on shares of Barrick Gold from $21.00 to $17.00 and set a “neutral” rating on the stock in a research note on Monday. Raymond James increased their price target on Barrick Gold from $23.00 to $23.50 and gave the company an “outperform” rating in a research note on Monday. Finally, National Bank Financial upgraded Barrick Gold to a “hold” rating in a research report on Friday, March 21st. Six research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $23.71.

Barrick Gold Stock Up 1.2 %

Barrick Gold stock opened at $19.67 on Wednesday. The firm has a market cap of $33.95 billion, a price-to-earnings ratio of 16.00, a PEG ratio of 0.44 and a beta of 0.58. Barrick Gold Corp has a 52-week low of $15.11 and a 52-week high of $21.35. 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 firm has a 50 day moving average price of $17.99 and a two-hundred day moving average price of $18.01.

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

Barrick Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.40 annualized dividend and a yield of 2.03%. Barrick Gold’s dividend payout ratio is currently 32.52%.

Barrick Gold declared that its board has initiated a share repurchase program on Wednesday, February 12th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the gold and copper producer to repurchase up to 3.2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Barrick Gold Company 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.