Truist Financial Corp Sells 12,977 Shares of Barrick Gold Corp (NYSE:GOLD)

Truist Financial Corp decreased its stake in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 16.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,548 shares of the gold and copper producer’s stock after selling 12,977 shares during the period. Truist Financial Corp’s holdings in Barrick Gold were worth $1,000,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. JFS Wealth Advisors LLC increased its position in shares of Barrick Gold by 451.7% during the third quarter. JFS Wealth Advisors LLC now owns 1,909 shares of the gold and copper producer’s stock worth $38,000 after acquiring an additional 1,563 shares in the last quarter. BNP Paribas increased its position in shares of Barrick Gold by 221.7% during the third quarter. BNP Paribas now owns 3,066 shares of the gold and copper producer’s stock worth $62,000 after acquiring an additional 2,113 shares in the last quarter. Avior Wealth Management LLC increased its position in shares of Barrick Gold by 24.1% during the third quarter. Avior Wealth Management LLC now owns 3,399 shares of the gold and copper producer’s stock worth $68,000 after acquiring an additional 659 shares in the last quarter. Newbridge Financial Services Group Inc. bought a new stake in shares of Barrick Gold during the fourth quarter worth $65,000. Finally, Exchange Traded Concepts LLC increased its position in shares of Barrick Gold by 196.9% during the fourth quarter. Exchange Traded Concepts LLC now owns 4,178 shares of the gold and copper producer’s stock worth $65,000 after acquiring an additional 2,771 shares in the last quarter. Institutional investors own 62.85% of the company’s stock.

Barrick Gold Stock Performance

Shares of GOLD stock opened at $17.74 on Friday. The company has a fifty day moving average price of $16.61 and a two-hundred day moving average price of $18.19. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.89 and a quick ratio of 2.15. The stock has a market cap of $30.63 billion, a P/E ratio of 14.42, a P/E/G ratio of 0.44 and a beta of 0.55. Barrick Gold Corp has a one year low of $14.56 and a one year high of $21.35.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its earnings results on Wednesday, February 12th. The gold and copper producer reported $0.46 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.46. Barrick Gold had a net margin of 16.59% and a return on equity of 6.76%. As a group, equities analysts predict that Barrick Gold Corp will post 1.47 EPS for the current year.

Barrick Gold Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date is Friday, February 28th. Barrick Gold’s dividend payout ratio is presently 32.52%.

Barrick Gold announced that its board has initiated a share repurchase program on Wednesday, February 12th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the gold and copper producer to reacquire up to 3.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on GOLD. CIBC downgraded shares of Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research report on Monday, November 25th. Cibc World Mkts cut shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, November 25th. Berenberg Bank increased their target price on shares of Barrick Gold from $37.00 to $38.00 in a report on Tuesday, November 26th. TD Securities reduced their target price on shares of Barrick Gold from $24.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Finally, Raymond James reduced their target price on shares of Barrick Gold from $25.00 to $24.00 and set an “outperform” rating for the company in a report on Friday, February 7th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $23.75.

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.