Clearbridge Investments LLC Has $382,000 Holdings in Barrick Gold Corp (NYSE:GOLD)

Clearbridge Investments LLC cut its holdings in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 32.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,132 shares of the gold and copper producer’s stock after selling 10,343 shares during the quarter. Clearbridge Investments LLC’s holdings in Barrick Gold were worth $382,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. NBC Securities Inc. acquired a new stake in shares of Barrick Gold during the 3rd quarter valued at about $146,000. Flputnam Investment Management Co. acquired a new stake in shares of Barrick Gold during the 3rd quarter valued at about $1,575,000. Great Valley Advisor Group Inc. lifted its holdings in shares of Barrick Gold by 25.7% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 78,571 shares of the gold and copper producer’s stock valued at $1,143,000 after buying an additional 16,064 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of Barrick Gold during the 3rd quarter valued at about $4,380,000. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Barrick Gold during the 3rd quarter valued at about $880,000. 62.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GOLD has been the subject of several research reports. Argus reiterated a “hold” rating on shares of Barrick Gold in a report on Monday, February 26th. StockNews.com upgraded Barrick Gold from a “hold” rating to a “buy” rating in a report on Wednesday, February 21st. Raymond James cut their price objective on Barrick Gold from $24.00 to $23.00 and set an “outperform” rating on the stock in a research note on Thursday, February 15th. National Bank Financial reissued a “sector perform overweight” rating on shares of Barrick Gold in a research note on Monday, April 8th. Finally, TD Securities cut their price objective on Barrick Gold from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Friday, February 16th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $21.60.

Barrick Gold Stock Performance

Shares of NYSE GOLD opened at $17.02 on Monday. The company has a quick ratio of 2.49, a current ratio of 3.32 and a debt-to-equity ratio of 0.15. The business’s 50 day moving average is $16.89 and its two-hundred day moving average is $16.45. The company has a market cap of $29.88 billion, a P/E ratio of 20.76, a P/E/G ratio of 0.44 and a beta of 0.59. Barrick Gold Corp has a 12 month low of $13.76 and a 12 month high of $18.95.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its quarterly earnings results on Wednesday, May 1st. The gold and copper producer reported $0.19 EPS for the quarter, topping the consensus estimate of $0.15 by $0.04. The company had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.74 billion. Barrick Gold had a return on equity of 4.88% and a net margin of 12.58%. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.14 EPS. On average, equities analysts expect that Barrick Gold Corp will post 1.02 EPS for the current year.

Barrick Gold Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be given a $0.10 dividend. This is an increase from Barrick Gold’s previous quarterly dividend of $0.07. This represents a $0.40 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend is Friday, May 31st. Barrick Gold’s payout ratio is currently 48.78%.

About Barrick Gold

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.