Natixis Advisors LLC Sells 29,610 Shares of Barrick Gold Corp (NYSE:GOLD)

Natixis Advisors LLC lessened its holdings in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 17.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 144,694 shares of the gold and copper producer’s stock after selling 29,610 shares during the quarter. Natixis Advisors LLC’s holdings in Barrick Gold were worth $2,243,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. First Horizon Advisors Inc. grew its stake in Barrick Gold by 619.7% in the 4th quarter. First Horizon Advisors Inc. now owns 3,073 shares of the gold and copper producer’s stock valued at $48,000 after purchasing an additional 2,646 shares during the period. BNP Paribas grew its stake in shares of Barrick Gold by 221.7% during the 3rd 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 during the period. Exchange Traded Concepts LLC grew its stake in shares of Barrick Gold by 196.9% during the 4th 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 during the period. Newbridge Financial Services Group Inc. bought a new position in shares of Barrick Gold during the 4th quarter worth $65,000. Finally, Avior Wealth Management LLC grew its stake in shares of Barrick Gold by 24.1% during the 3rd 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 during the period. Institutional investors own 62.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Stifel Canada upgraded Barrick Gold to a “strong-buy” rating in a research note on Wednesday, March 19th. CIBC downgraded Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research note on Monday, November 25th. Cibc World Mkts downgraded Barrick Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 25th. Raymond James cut their price target on Barrick Gold from $25.00 to $24.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Finally, Bank of America cut Barrick Gold from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $21.00 to $18.00 in a report on Monday, January 27th. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $23.75.

Barrick Gold Stock Performance

NYSE:GOLD opened at $18.86 on Monday. The business’s 50-day moving average price is $17.50 and its two-hundred day moving average price is $18.03. Barrick Gold Corp has a twelve month low of $0.25 and a twelve month high of $21.35. The stock has a market cap of $32.54 billion, a P/E ratio of 15.33, a PEG ratio of 0.44 and a beta of 0.58. The company has a quick ratio of 2.15, a current ratio of 2.89 and a debt-to-equity ratio of 0.14.

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

Barrick Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were issued a $0.10 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.40 annualized dividend and a dividend yield of 2.12%. Barrick Gold’s payout ratio is currently 32.52%.

Barrick Gold announced that its board has authorized a stock repurchase plan on Wednesday, February 12th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the gold and copper producer to reacquire up to 3.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

About Barrick Gold

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.