Barrick Gold Corp (NYSE:GOLD) Shares Sold by Addenda Capital Inc.

Addenda Capital Inc. reduced its stake in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 26.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,294,175 shares of the gold and copper producer’s stock after selling 811,160 shares during the period. Barrick Gold accounts for about 1.8% of Addenda Capital Inc.’s portfolio, making the stock its 15th largest holding. Addenda Capital Inc. owned approximately 0.13% of Barrick Gold worth $38,175,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in GOLD. Principal Securities Inc. acquired a new stake in shares of Barrick Gold in the 4th quarter valued at $26,000. EverSource Wealth Advisors LLC boosted its position in shares of Barrick Gold by 175.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,794 shares of the gold and copper producer’s stock worth $32,000 after acquiring an additional 1,143 shares in the last quarter. Bruce G. Allen Investments LLC purchased a new position in shares of Barrick Gold in the 4th quarter valued at about $35,000. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of Barrick Gold during the 4th quarter worth about $45,000. Finally, Optiver Holding B.V. purchased a new stake in Barrick Gold during the fourth quarter worth approximately $46,000. Institutional investors and hedge funds own 62.85% of the company’s stock.

Wall Street Analyst Weigh In

GOLD has been the subject of a number of research reports. Jefferies Financial Group began coverage on shares of Barrick Gold in a report on Thursday, February 29th. They issued a “buy” rating and a $21.00 target price for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $18.00 target price on shares of Barrick Gold in a research note on Monday, March 4th. BMO Capital Markets cut their price target on Barrick Gold from $27.00 to $26.00 and set an “outperform” rating for the company in a research note on Wednesday, April 17th. Finally, National Bank Financial reiterated a “sector perform overweight” rating on shares of Barrick Gold in a research report on Monday, April 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $21.60.

Barrick Gold Price Performance

Barrick Gold stock traded down $0.17 on Friday, reaching $16.67. The company’s stock had a trading volume of 13,270,405 shares, compared to its average volume of 21,921,693. Barrick Gold Corp has a twelve month low of $13.76 and a twelve month high of $18.95. The company has a market cap of $29.27 billion, a price-to-earnings ratio of 20.33, a PEG ratio of 0.48 and a beta of 0.59. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.49 and a current ratio of 3.32. The business’s fifty day moving average price is $16.84 and its 200 day moving average price is $16.48.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its earnings results on Wednesday, May 1st. The gold and copper producer reported $0.19 EPS for the quarter, beating the consensus estimate of $0.15 by $0.04. Barrick Gold had a return on equity of 4.88% and a net margin of 12.58%. The company had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.74 billion. During the same period last year, the firm earned $0.14 EPS. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. Equities analysts expect that Barrick Gold Corp will post 1.06 earnings per share for the current fiscal year.

Barrick Gold Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Friday, May 31st were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.40%. This is a boost from Barrick Gold’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Friday, May 31st. Barrick Gold’s payout ratio is presently 48.78%.

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.