Main Street Group LTD Decreases Holdings in Barrick Gold Corp (NYSE:B)

Main Street Group LTD decreased its holdings in Barrick Gold Corp (NYSE:B) (TSE:ABX) by 20.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 4,649 shares of the gold and copper producer’s stock after selling 1,232 shares during the period. Main Street Group LTD’s holdings in Barrick Gold were worth $72,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Crowley Wealth Management Inc. bought a new stake in Barrick Gold in the fourth quarter worth $26,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Barrick Gold in the fourth quarter worth about $37,000. First Horizon Advisors Inc. lifted its stake in shares of Barrick Gold by 619.7% in the 4th quarter. First Horizon Advisors Inc. now owns 3,073 shares of the gold and copper producer’s stock valued at $48,000 after acquiring an additional 2,646 shares during the last quarter. Pingora Partners LLC boosted its holdings in Barrick Gold by 250.0% during the 4th quarter. Pingora Partners LLC now owns 3,500 shares of the gold and copper producer’s stock valued at $54,000 after acquiring an additional 2,500 shares during the period. Finally, Exchange Traded Concepts LLC grew its position in Barrick Gold by 196.9% during the 4th quarter. Exchange Traded Concepts LLC now owns 4,178 shares of the gold and copper producer’s stock worth $65,000 after acquiring an additional 2,771 shares during the last quarter. Institutional investors own 62.85% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Raymond James boosted their price objective on Barrick Gold from $23.00 to $23.50 and gave the company an “outperform” rating in a research report on Monday, March 31st. StockNews.com assumed coverage on shares of Barrick Gold in a report on Monday. They set a “sell” rating for the company. National Bank Financial raised shares of Barrick Gold to a “hold” rating in a report on Friday, March 21st. TD Securities decreased their price objective on shares of Barrick Gold from $24.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Finally, Scotiabank boosted their price target on Barrick Gold from $20.00 to $22.00 and gave the company a “sector perform” rating in a report on Monday, April 14th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Barrick Gold has a consensus rating of “Moderate Buy” and an average target price of $24.05.

Barrick Gold Trading Down 0.4%

NYSE B opened at $18.15 on Wednesday. The firm has a market capitalization of $31.21 billion, a PE ratio of 14.76, a P/E/G ratio of 0.44 and a beta of 0.25. The stock’s 50 day moving average is $19.08 and its 200 day moving average is $17.79. Barrick Gold Corp has a twelve month low of $17.98 and a twelve month high of $47.50. The company has a quick ratio of 2.15, a current ratio of 2.89 and a debt-to-equity ratio of 0.14.

Barrick Gold (NYSE:B) (TSE:ABX) last announced its quarterly earnings data on Wednesday, May 7th. The gold and copper producer reported $0.35 EPS for the quarter, beating the consensus estimate of $0.29 by $0.06. The business had revenue of $3 billion during the quarter, compared to analyst estimates of $3.15 billion. Barrick Gold had a return on equity of 6.76% and a net margin of 16.59%. The company’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.19 earnings per share. Research analysts forecast that Barrick Gold Corp will post 1.47 earnings per share for the current fiscal year.

Barrick Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.40 dividend on an annualized basis and a yield of 2.20%. Barrick Gold’s dividend payout ratio (DPR) is currently 30.08%.

Barrick Gold declared that its board has authorized a share buyback plan on Wednesday, February 12th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the gold and copper producer to reacquire up to 3.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

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.