Choreo LLC Has $245,000 Stock Position in Barrick Gold Corp (NYSE:GOLD)

Choreo LLC reduced its stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 27.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,842 shares of the gold and copper producer’s stock after selling 5,940 shares during the period. Choreo LLC’s holdings in Barrick Gold were worth $245,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Greenleaf Trust grew its position in Barrick Gold by 2.1% in the third quarter. Greenleaf Trust now owns 25,659 shares of the gold and copper producer’s stock valued at $510,000 after acquiring an additional 540 shares during the period. Moors & Cabot Inc. boosted its stake in shares of Barrick Gold by 0.9% in the 3rd quarter. Moors & Cabot Inc. now owns 64,085 shares of the gold and copper producer’s stock valued at $1,275,000 after purchasing an additional 579 shares in the last quarter. Chelsea Counsel Co. grew its holdings in shares of Barrick Gold by 1.4% in the 3rd quarter. Chelsea Counsel Co. now owns 42,973 shares of the gold and copper producer’s stock worth $855,000 after purchasing an additional 590 shares during the last quarter. Avior Wealth Management LLC increased its position in shares of Barrick Gold by 24.1% during the 3rd quarter. Avior Wealth Management LLC now owns 3,399 shares of the gold and copper producer’s stock worth $68,000 after purchasing an additional 659 shares in the last quarter. Finally, Whitener Capital Management Inc. lifted its holdings in Barrick Gold by 0.9% during the 3rd quarter. Whitener Capital Management Inc. now owns 73,185 shares of the gold and copper producer’s stock valued at $1,456,000 after purchasing an additional 675 shares during the last quarter. Institutional investors own 62.85% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on GOLD shares. CIBC lowered shares of Barrick Gold from a “sector outperform” rating to a “neutral” rating in a report on Monday, November 25th. Scotiabank cut Barrick Gold from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from $23.00 to $19.00 in a report on Thursday, January 30th. Berenberg Bank boosted their price objective on Barrick Gold from $37.00 to $38.00 in a research note on Tuesday, November 26th. UBS Group cut Barrick Gold from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $23.00 to $22.00 in a report on Wednesday, October 30th. Finally, Citigroup cut their price target on Barrick Gold from $23.00 to $17.00 and set a “neutral” rating for the company in a report on Friday, December 20th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $23.67.

Barrick Gold Trading Down 2.6 %

GOLD opened at $17.96 on Friday. The firm has a 50 day simple moving average of $16.23 and a 200 day simple moving average of $18.17. Barrick Gold Corp has a fifty-two week low of $14.25 and a fifty-two week high of $21.35. The company has a market cap of $31.01 billion, a price-to-earnings ratio of 19.31, a price-to-earnings-growth ratio of 0.39 and a beta of 0.55. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.65 and a quick ratio of 2.06.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its earnings results on Wednesday, February 12th. The gold and copper producer reported $0.46 EPS for the quarter, meeting the consensus estimate of $0.46. Barrick Gold had a net margin of 13.19% and a return on equity of 5.82%. On average, sell-side analysts anticipate that Barrick Gold Corp will post 1.23 earnings per share for the current year.

Barrick Gold Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend is Friday, February 28th. Barrick Gold’s payout ratio is 43.01%.

Barrick Gold announced that its Board of Directors has approved a share repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the gold and copper producer to purchase up to 3.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

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.