Zions Bancorporation N.A. Reduces Stake in Barrick Gold Corp (NYSE:GOLD)

Zions Bancorporation N.A. decreased its holdings in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 24.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,876 shares of the gold and copper producer’s stock after selling 4,924 shares during the quarter. Zions Bancorporation N.A.’s holdings in Barrick Gold were worth $248,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GOLD. Principal Securities Inc. purchased a new stake in shares of Barrick Gold during the 4th quarter worth approximately $26,000. Dimensional Fund Advisors LP boosted its stake in Barrick Gold by 3.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,359,933 shares of the gold and copper producer’s stock valued at $115,051,000 after acquiring an additional 211,928 shares in the last quarter. Avantax Advisory Services Inc. grew its holdings in shares of Barrick Gold by 21.4% during the fourth quarter. Avantax Advisory Services Inc. now owns 72,977 shares of the gold and copper producer’s stock worth $1,320,000 after purchasing an additional 12,860 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its position in shares of Barrick Gold by 31.4% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 34,633 shares of the gold and copper producer’s stock worth $627,000 after purchasing an additional 8,276 shares in the last quarter. Finally, Beacon Pointe Advisors LLC lifted its holdings in shares of Barrick Gold by 10.8% in the 4th quarter. Beacon Pointe Advisors LLC now owns 36,505 shares of the gold and copper producer’s stock valued at $660,000 after purchasing an additional 3,570 shares during the last quarter. 62.85% of the stock is owned by institutional investors and hedge funds.

Barrick Gold Stock Performance

Shares of GOLD stock opened at $20.84 on Friday. The company has a current ratio of 3.01, a quick ratio of 2.49 and a debt-to-equity ratio of 0.15. The stock has a 50 day simple moving average of $18.95 and a 200-day simple moving average of $17.45. The company has a market cap of $36.53 billion, a price-to-earnings ratio of 25.41, a price-to-earnings-growth ratio of 0.49 and a beta of 0.55. Barrick Gold Corp has a 12-month low of $13.76 and a 12-month high of $21.13.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released 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. The firm had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Barrick Gold had a return on equity of 5.53% and a net margin of 12.78%. During the same quarter in the prior year, the business posted $0.19 earnings per share. Barrick Gold’s revenue was up 11.6% compared to the same quarter last year. On average, equities analysts forecast that Barrick Gold Corp will post 1.22 EPS for the current year.

Barrick Gold Dividend Announcement

The business 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 dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend is Friday, August 30th. Barrick Gold’s dividend payout ratio is currently 48.78%.

Analyst Upgrades and Downgrades

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

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.