Barrick Gold Corp (NYSE:GOLD) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its stake in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 14.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 403,247 shares of the gold and copper producer’s stock after selling 65,447 shares during the quarter. Principal Financial Group Inc.’s holdings in Barrick Gold were worth $6,725,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. 1832 Asset Management L.P. grew its stake in Barrick Gold by 19.2% during the 4th quarter. 1832 Asset Management L.P. now owns 1,051,755 shares of the gold and copper producer’s stock worth $19,026,000 after buying an additional 169,350 shares during the last quarter. Corient Private Wealth LLC raised its position in Barrick Gold by 0.9% in the 4th quarter. Corient Private Wealth LLC now owns 123,651 shares of the gold and copper producer’s stock valued at $2,237,000 after purchasing an additional 1,066 shares during the last quarter. First Hawaiian Bank acquired a new stake in Barrick Gold during the 1st quarter worth $235,000. RFG Advisory LLC grew its position in Barrick Gold by 87.0% during the 1st quarter. RFG Advisory LLC now owns 41,002 shares of the gold and copper producer’s stock worth $682,000 after purchasing an additional 19,077 shares during the last quarter. Finally, Financial Sense Advisors Inc. increased its stake in Barrick Gold by 142.1% in the first quarter. Financial Sense Advisors Inc. now owns 826,507 shares of the gold and copper producer’s stock valued at $13,753,000 after purchasing an additional 485,077 shares during the period. Institutional investors and hedge funds own 62.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on GOLD shares. 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 raised Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Thursday, August 29th. Scotiabank lifted their target price 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. Finally, Jefferies Financial Group upped their price target on Barrick Gold from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. One investment 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 MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $22.80.

Barrick Gold Price Performance

Barrick Gold stock opened at $19.28 on Tuesday. The company has a market cap of $33.79 billion, a P/E ratio of 23.51, a price-to-earnings-growth ratio of 0.47 and a beta of 0.55. Barrick Gold Corp has a one year low of $13.76 and a one year high of $20.89. The business has a fifty day moving average of $18.71 and a two-hundred day moving average of $17.31. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.49 and a current ratio of 3.32.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its quarterly earnings data on Monday, August 12th. The gold and copper producer reported $0.32 EPS for the quarter, beating the consensus estimate of $0.27 by $0.05. Barrick Gold had a net margin of 12.78% and a return on equity of 5.55%. The firm had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same quarter last year, the business earned $0.19 earnings per share. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, 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 declared 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 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date is Friday, August 30th. Barrick Gold’s dividend payout ratio is currently 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.