Game Creek Capital LP Sells 66,000 Shares of Barrick Gold Corp (NYSE:GOLD)

Game Creek Capital LP lowered its stake in shares of Barrick Gold Corp (NYSE:GOLDGet Rating) (TSE:ABX) by 39.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 100,000 shares of the gold and copper producer’s stock after selling 66,000 shares during the quarter. Game Creek Capital LP’s holdings in Barrick Gold were worth $1,550,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. CoreCap Advisors LLC acquired a new position in Barrick Gold during the 2nd quarter valued at about $29,000. Hexagon Capital Partners LLC lifted its position in Barrick Gold by 355.1% during the 3rd quarter. Hexagon Capital Partners LLC now owns 1,661 shares of the gold and copper producer’s stock valued at $26,000 after purchasing an additional 1,296 shares during the period. Optiver Holding B.V. lifted its position in Barrick Gold by 65.9% during the 2nd quarter. Optiver Holding B.V. now owns 1,669 shares of the gold and copper producer’s stock valued at $30,000 after purchasing an additional 663 shares during the period. Fairfield Bush & CO. acquired a new position in Barrick Gold during the 1st quarter valued at about $42,000. Finally, Grayhawk Investment Strategies Inc. acquired a new position in Barrick Gold during the 2nd quarter valued at about $39,000. Institutional investors own 56.82% of the company’s stock.

Barrick Gold Stock Performance

Shares of NYSE:GOLD opened at $19.42 on Wednesday. The firm’s 50 day simple moving average is $17.42 and its 200 day simple moving average is $16.16. Barrick Gold Corp has a fifty-two week low of $13.01 and a fifty-two week high of $26.07. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.76 and a quick ratio of 2.98. The company has a market capitalization of $34.09 billion, a price-to-earnings ratio of 18.15, a P/E/G ratio of 11.73 and a beta of 0.28.

Barrick Gold (NYSE:GOLDGet Rating) (TSE:ABX) last posted its earnings results on Thursday, November 3rd. The gold and copper producer reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. Barrick Gold had a return on equity of 5.34% and a net margin of 16.39%. The business had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $3.09 billion. As a group, sell-side analysts forecast that Barrick Gold Corp will post 0.76 earnings per share for the current year.

Barrick Gold Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 15th. Investors of record on Wednesday, November 30th were paid a dividend of $0.11 per share. The ex-dividend date of this dividend was Tuesday, November 29th. This represents a $0.44 dividend on an annualized basis and a yield of 2.27%. Barrick Gold’s payout ratio is 37.38%.

Analysts Set New Price Targets

A number of research firms have issued reports on GOLD. Royal Bank of Canada cut their target price on shares of Barrick Gold from $27.00 to $20.00 and set an “outperform” rating on the stock in a research report on Monday, November 21st. Barclays cut their target price on shares of Barrick Gold from $25.00 to $23.00 and set an “overweight” rating on the stock in a research report on Monday, November 21st. TD Securities cut their target price on shares of Barrick Gold from $24.00 to $21.00 and set a “buy” rating on the stock in a research report on Friday, November 4th. Fundamental Research restated a “buy” rating and set a $19.90 target price (down from $23.42) on shares of Barrick Gold in a research report on Tuesday, November 15th. Finally, Raymond James cut their price target on shares of Barrick Gold from $24.50 to $23.00 and set an “outperform” rating on the stock in a research report on Friday, November 4th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Barrick Gold has an average rating of “Moderate Buy” and an average target price of $23.99.

Barrick Gold Profile

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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.

Further Reading

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Institutional Ownership by Quarter for Barrick Gold (NYSE:GOLD)

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