Atria Investments Inc Sells 2,549 Shares of Barrick Gold Corp (NYSE:GOLD)

Atria Investments Inc lessened its position in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 7.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,802 shares of the gold and copper producer’s stock after selling 2,549 shares during the quarter. Atria Investments Inc’s holdings in Barrick Gold were worth $493,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. increased its stake in Barrick Gold by 19.9% in the third quarter. Principal Financial Group Inc. now owns 483,613 shares of the gold and copper producer’s stock valued at $9,630,000 after acquiring an additional 80,366 shares during the last quarter. Mizuho Markets Americas LLC grew its stake in shares of Barrick Gold by 21.7% during the third quarter. Mizuho Markets Americas LLC now owns 2,317,580 shares of the gold and copper producer’s stock valued at $46,097,000 after buying an additional 413,012 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Barrick Gold by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,073,717 shares of the gold and copper producer’s stock valued at $78,637,000 after buying an additional 128,203 shares during the last quarter. Crocodile Capital Partners GmbH grew its stake in shares of Barrick Gold by 97.3% during the fourth quarter. Crocodile Capital Partners GmbH now owns 1,460,000 shares of the gold and copper producer’s stock valued at $22,630,000 after buying an additional 720,000 shares during the last quarter. Finally, Chiron Investment Management LLC grew its stake in shares of Barrick Gold by 36.5% during the third quarter. Chiron Investment Management LLC now owns 604,199 shares of the gold and copper producer’s stock valued at $12,018,000 after buying an additional 161,688 shares during the last quarter. Institutional investors own 62.85% of the company’s stock.

Barrick Gold Price Performance

GOLD stock opened at $18.80 on Friday. The firm has a 50 day moving average price of $17.15 and a 200-day moving average price of $18.07. Barrick Gold Corp has a 52-week low of $0.25 and a 52-week high of $21.35. The firm has a market capitalization of $32.46 billion, a price-to-earnings ratio of 15.28, a PEG ratio of 0.44 and a beta of 0.58. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.15 and a current ratio of 2.89.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its earnings results on Wednesday, February 12th. The gold and copper producer reported $0.46 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.46. Barrick Gold had a net margin of 16.59% and a return on equity of 6.76%. Equities research analysts forecast that Barrick Gold Corp will post 1.47 EPS for the current fiscal year.

Barrick Gold announced that its board has approved a share repurchase program 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 buy up to 3.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Barrick Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.40 dividend on an annualized basis and a yield of 2.13%. Barrick Gold’s payout ratio is currently 32.52%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on GOLD shares. Berenberg Bank raised their price objective on Barrick Gold from $37.00 to $38.00 in a research note on Tuesday, November 26th. CIBC cut Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research note on Monday, November 25th. Scotiabank raised their price objective on Barrick Gold from $19.00 to $20.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 18th. Cibc World Mkts cut Barrick Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 25th. Finally, UBS Group raised Barrick Gold from a “neutral” rating to a “buy” rating and set a $22.00 target price on the stock in a research note on Wednesday, March 5th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Barrick Gold presently has an average rating of “Moderate Buy” and a consensus price target 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.