Hsbc Holdings PLC Has $9.83 Million Stake in Barrick Gold Corp (NYSE:GOLD)

Hsbc Holdings PLC cut its holdings in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 57.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 585,949 shares of the gold and copper producer’s stock after selling 786,201 shares during the quarter. Hsbc Holdings PLC’s holdings in Barrick Gold were worth $9,825,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Clean Yield Group bought a new stake in shares of Barrick Gold in the 1st quarter valued at about $25,000. Principal Securities Inc. bought a new stake in Barrick Gold during the 4th quarter worth about $26,000. Crewe Advisors LLC raised its holdings in Barrick Gold by 628.8% during the second quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer’s stock worth $30,000 after acquiring an additional 1,572 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Barrick Gold by 175.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,794 shares of the gold and copper producer’s stock valued at $32,000 after buying an additional 1,143 shares during the last quarter. Finally, Jackson Grant Investment Advisers Inc. bought a new position in shares of Barrick Gold in the second quarter valued at $32,000. Institutional investors and hedge funds own 62.85% of the company’s stock.

Analyst Ratings Changes

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

Barrick Gold Stock Performance

Shares of NYSE:GOLD opened at $20.21 on Tuesday. Barrick Gold Corp has a 1 year low of $13.76 and a 1 year high of $21.13. The stock has a market capitalization of $35.42 billion, a price-to-earnings ratio of 24.65, a price-to-earnings-growth ratio of 0.49 and a beta of 0.55. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.01 and a quick ratio of 2.49. The company’s 50 day simple moving average is $19.24 and its 200 day simple moving average is $17.68.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its quarterly earnings results on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.05. Barrick Gold had a return on equity of 5.53% and a net margin of 12.78%. The company had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.13 billion. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.19 EPS. As a group, research analysts predict that Barrick Gold Corp will post 1.22 EPS for the current fiscal year.

Barrick Gold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were issued a $0.10 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.98%. Barrick Gold’s dividend payout ratio (DPR) is currently 48.78%.

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.