Federated Hermes Inc. Trims Holdings in Barrick Gold Corp (NYSE:GOLD)

Federated Hermes Inc. lessened its stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 10.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 922,300 shares of the gold and copper producer’s stock after selling 103,173 shares during the period. Federated Hermes Inc. owned about 0.05% of Barrick Gold worth $15,384,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Edge Wealth Management LLC boosted its holdings in Barrick Gold by 6.3% in the first quarter. Edge Wealth Management LLC now owns 12,255 shares of the gold and copper producer’s stock worth $204,000 after purchasing an additional 725 shares during the period. Greenleaf Trust grew its position in shares of Barrick Gold by 3.5% during the 1st quarter. Greenleaf Trust now owns 25,119 shares of the gold and copper producer’s stock valued at $418,000 after buying an additional 838 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co raised its stake in Barrick Gold by 2.4% during the first quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 36,519 shares of the gold and copper producer’s stock worth $608,000 after acquiring an additional 850 shares during the period. Bangor Savings Bank lifted its holdings in Barrick Gold by 4.4% in the second quarter. Bangor Savings Bank now owns 21,445 shares of the gold and copper producer’s stock worth $358,000 after acquiring an additional 904 shares during the last quarter. Finally, S.A. Mason LLC boosted its stake in Barrick Gold by 3.5% in the first quarter. S.A. Mason LLC now owns 28,543 shares of the gold and copper producer’s stock valued at $475,000 after acquiring an additional 973 shares during the period. 62.85% of the stock is currently owned by institutional investors.

Barrick Gold Price Performance

GOLD stock opened at $20.52 on Tuesday. The firm has a 50-day moving average of $19.01 and a two-hundred day moving average of $17.51. The firm has a market capitalization of $35.97 billion, a PE ratio of 25.02, a P/E/G ratio of 0.49 and a beta of 0.55. The company has a current ratio of 3.01, a quick ratio of 2.49 and a debt-to-equity ratio of 0.15. Barrick Gold Corp has a one year low of $13.76 and a one year high of $21.13.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its quarterly earnings data on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.05. The firm had revenue of $3.16 billion for the quarter, compared to analysts’ expectations of $3.13 billion. Barrick Gold had a net margin of 12.78% and a return on equity of 5.53%. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.19 EPS. On average, analysts forecast that Barrick Gold Corp will post 1.22 earnings per share for the current year.

Barrick Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.40 annualized dividend and a yield of 1.95%. Barrick Gold’s dividend payout ratio is presently 48.78%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. CIBC raised their price target on Barrick Gold from $23.00 to $27.00 and gave the stock an “outperformer” rating in a report on Wednesday, July 10th. Jefferies Financial Group upped their price target on shares of Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday. Scotiabank increased their price objective on shares of Barrick Gold from $23.00 to $25.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. Royal Bank of Canada boosted their target price on shares of Barrick Gold from $21.00 to $22.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. Finally, Argus upgraded shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Barrick Gold has a consensus rating of “Moderate Buy” and a consensus price target of $23.30.

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.