Skylands Capital LLC Cuts Stock Holdings in Barrick Gold Corp (NYSE:GOLD)

Skylands Capital LLC lowered its holdings in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 1.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 236,450 shares of the gold and copper producer’s stock after selling 3,700 shares during the quarter. Skylands Capital LLC’s holdings in Barrick Gold were worth $4,277,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GOLD. Avaii Wealth Management LLC purchased a new stake in shares of Barrick Gold during the fourth quarter valued at about $625,000. Headlands Technologies LLC lifted its holdings in shares of Barrick Gold by 133.8% during the 4th quarter. Headlands Technologies LLC now owns 11,990 shares of the gold and copper producer’s stock valued at $217,000 after purchasing an additional 6,862 shares during the last quarter. Kovack Advisors Inc. boosted its position in shares of Barrick Gold by 22.4% in the 4th quarter. Kovack Advisors Inc. now owns 25,777 shares of the gold and copper producer’s stock worth $466,000 after purchasing an additional 4,713 shares in the last quarter. K.J. Harrison & Partners Inc purchased a new position in Barrick Gold during the 4th quarter worth $236,000. Finally, Parkside Financial Bank & Trust grew its stake in Barrick Gold by 19,047.6% during the 4th quarter. Parkside Financial Bank & Trust now owns 8,042 shares of the gold and copper producer’s stock worth $145,000 after buying an additional 8,000 shares during the last quarter. 62.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on GOLD. Royal Bank of Canada reissued an “outperform” rating and issued a $18.00 price target on shares of Barrick Gold in a report on Monday, March 4th. National Bank Financial reiterated a “sector perform overweight” rating on shares of Barrick Gold in a research note on Monday, April 8th. CIBC cut their price target on shares of Barrick Gold from $27.00 to $23.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 7th. StockNews.com upgraded shares of Barrick Gold from a “hold” rating to a “buy” rating in a research note on Wednesday, February 21st. Finally, Sanford C. Bernstein lowered shares of Barrick Gold from an “outperform” rating to a “market perform” rating in a report on Monday, January 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $20.06.

Barrick Gold Stock Performance

Shares of GOLD traded up $0.23 during mid-day trading on Monday, reaching $17.32. The company had a trading volume of 11,806,741 shares, compared to its average volume of 22,923,551. The stock has a 50 day moving average of $16.14 and a two-hundred day moving average of $16.32. The company has a quick ratio of 2.40, a current ratio of 3.16 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $30.41 billion, a P/E ratio of 23.74, a PEG ratio of 1.50 and a beta of 0.58. Barrick Gold Corp has a 52-week low of $13.76 and a 52-week high of $20.75.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its quarterly earnings data on Wednesday, February 14th. The gold and copper producer reported $0.27 EPS for the quarter, topping the consensus estimate of $0.21 by $0.06. Barrick Gold had a return on equity of 4.64% and a net margin of 11.16%. The business had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same quarter in the prior year, the firm posted $0.13 EPS. On average, analysts expect that Barrick Gold Corp will post 0.95 earnings per share for the current year.

Barrick Gold Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were issued a $0.074 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.30 dividend on an annualized basis and a yield of 1.71%. Barrick Gold’s payout ratio is 55.56%.

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.