Barrick Gold Corp (NYSE:GOLD) Shares Sold by First City Capital Management Inc.

First City Capital Management Inc. trimmed its holdings in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 9.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,762 shares of the gold and copper producer’s stock after selling 3,050 shares during the quarter. First City Capital Management Inc.’s holdings in Barrick Gold were worth $480,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in GOLD. Edge Wealth Management LLC grew its position in shares of Barrick Gold by 6.3% in the 1st quarter. Edge Wealth Management LLC now owns 12,255 shares of the gold and copper producer’s stock valued at $204,000 after buying an additional 725 shares during the last quarter. Greenleaf Trust grew its holdings in shares of Barrick Gold by 3.5% during the first quarter. Greenleaf Trust now owns 25,119 shares of the gold and copper producer’s stock worth $418,000 after purchasing an additional 838 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co increased its position in shares of 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 purchasing an additional 850 shares in the last quarter. Bangor Savings Bank lifted its holdings in shares of Barrick Gold by 4.4% in the 2nd quarter. Bangor Savings Bank now owns 21,445 shares of the gold and copper producer’s stock valued at $358,000 after purchasing an additional 904 shares during the last quarter. Finally, S.A. Mason LLC boosted its position in shares of Barrick Gold by 3.5% in the 1st quarter. S.A. Mason LLC now owns 28,543 shares of the gold and copper producer’s stock valued at $475,000 after purchasing an additional 973 shares during the period. 62.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Royal Bank of Canada increased their price objective on Barrick Gold from $21.00 to $22.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Jefferies Financial Group lifted their price objective on shares of Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, September 13th. CIBC increased their target price on shares of Barrick Gold from $23.00 to $27.00 and gave the stock an “outperformer” rating in a research note on Wednesday, July 10th. Argus upgraded Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Thursday, August 29th. Finally, Scotiabank increased their price objective on Barrick Gold from $23.00 to $25.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Barrick Gold presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.30.

Barrick Gold Stock Performance

Shares of GOLD opened at $20.38 on Friday. The company has a market capitalization of $35.72 billion, a PE ratio of 24.85, a P/E/G ratio of 0.49 and a beta of 0.55. Barrick Gold Corp has a 52-week low of $13.76 and a 52-week high of $21.13. The company has a 50-day simple moving average of $19.20 and a 200-day simple moving average of $17.64. The company has a quick ratio of 2.49, a current ratio of 3.01 and a debt-to-equity ratio of 0.15.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its earnings results on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. The company had revenue of $3.16 billion during 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 firm’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period last year, the company posted $0.19 earnings per share. Equities research analysts predict that Barrick Gold Corp will post 1.22 earnings per share for the current fiscal year.

Barrick Gold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.96%. The ex-dividend date was Friday, August 30th. Barrick Gold’s dividend payout ratio (DPR) is 48.78%.

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.