Crossmark Global Holdings Inc. Lowers Holdings in Barrick Gold Corp (NYSE:GOLD)

Crossmark Global Holdings Inc. lessened its stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 12.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,296 shares of the gold and copper producer’s stock after selling 9,533 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Barrick Gold were worth $1,089,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of GOLD. CWM LLC increased its holdings in Barrick Gold by 8.4% in the 4th quarter. CWM LLC now owns 16,377 shares of the gold and copper producer’s stock worth $296,000 after buying an additional 1,269 shares in the last quarter. Kestra Private Wealth Services LLC grew its stake in shares of Barrick Gold by 7.5% during the 4th quarter. Kestra Private Wealth Services LLC now owns 26,241 shares of the gold and copper producer’s stock valued at $475,000 after purchasing an additional 1,833 shares during the period. Great Valley Advisor Group Inc. grew its stake in shares of Barrick Gold by 7.1% during the 4th quarter. Great Valley Advisor Group Inc. now owns 84,178 shares of the gold and copper producer’s stock valued at $1,523,000 after purchasing an additional 5,607 shares during the period. Natixis Advisors L.P. grew its stake in shares of Barrick Gold by 47.7% during the 4th quarter. Natixis Advisors L.P. now owns 87,638 shares of the gold and copper producer’s stock valued at $1,585,000 after purchasing an additional 28,318 shares during the period. Finally, M&T Bank Corp grew its stake in shares of Barrick Gold by 8.7% during the 4th quarter. M&T Bank Corp now owns 46,182 shares of the gold and copper producer’s stock valued at $835,000 after purchasing an additional 3,690 shares during the period. Hedge funds and other institutional investors own 62.85% of the company’s stock.

Barrick Gold Price Performance

Shares of Barrick Gold stock opened at $20.17 on Friday. The company has a quick ratio of 2.49, a current ratio of 3.32 and a debt-to-equity ratio of 0.15. Barrick Gold Corp has a twelve month low of $13.76 and a twelve month high of $20.89. The business has a 50-day moving average price of $18.30 and a 200 day moving average price of $17.03. The firm has a market cap of $35.35 billion, a PE ratio of 24.60, a P/E/G ratio of 0.48 and a beta of 0.51.

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 (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.05. Barrick Gold had a return on equity of 4.88% and a net margin of 12.58%. The company had revenue of $3.16 billion for the quarter, compared to analysts’ expectations of $3.13 billion. During the same period in the previous year, the firm posted $0.19 EPS. Barrick Gold’s revenue was up 11.6% compared to the same quarter last year. Sell-side analysts predict that Barrick Gold Corp will post 1.16 earnings per share for the current fiscal year.

Barrick Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend is Friday, August 30th. Barrick Gold’s payout ratio is 48.78%.

Analysts Set New Price Targets

GOLD has been the subject of a number of recent research reports. CIBC boosted their price target on Barrick Gold from $23.00 to $27.00 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. Scotiabank boosted their price target on Barrick Gold from $23.00 to $25.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. Argus upgraded Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research note on Thursday. Finally, Jefferies Financial Group boosted their price objective on Barrick Gold from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, July 12th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $22.80.

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.