DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Reduces Stock Position in Barrick Gold Corp (NYSE:GOLD)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main trimmed its holdings in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 61.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 458,481 shares of the gold and copper producer’s stock after selling 725,363 shares during the quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main’s holdings in Barrick Gold were worth $7,106,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Compass Rose Asset Management LP purchased a new position in Barrick Gold during the fourth quarter worth $15,500,000. Cantor Fitzgerald L. P. bought a new position in Barrick Gold during the 4th quarter valued at about $164,000. Banque Transatlantique SA purchased a new stake in Barrick Gold in the 4th quarter worth about $134,000. AXA S.A. lifted its stake in Barrick Gold by 9.8% in the fourth quarter. AXA S.A. now owns 1,224,845 shares of the gold and copper producer’s stock worth $18,985,000 after purchasing an additional 109,571 shares during the last quarter. Finally, Wahed Invest LLC boosted its position in shares of Barrick Gold by 12.5% during the fourth quarter. Wahed Invest LLC now owns 25,728 shares of the gold and copper producer’s stock valued at $399,000 after buying an additional 2,849 shares during the period. Institutional investors own 62.85% of the company’s stock.

Wall Street Analysts Forecast Growth

GOLD has been the subject of a number of research analyst reports. Scotiabank raised their price target on Barrick Gold from $20.00 to $22.00 and gave the stock a “sector perform” rating in a research note on Monday, April 14th. National Bankshares reiterated an “outperform” rating on shares of Barrick Gold in a research report on Wednesday, April 2nd. Royal Bank of Canada upped their price target on shares of Barrick Gold from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday, April 4th. Raymond James lifted their price objective on shares of Barrick Gold from $23.00 to $23.50 and gave the company an “outperform” rating in a report on Monday, March 31st. Finally, Stifel Canada upgraded shares of Barrick Gold to a “strong-buy” rating in a research note on Wednesday, March 19th. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $24.05.

Barrick Gold Stock Performance

Shares of NYSE:GOLD opened at $18.83 on Friday. The firm has a 50 day moving average of $19.09 and a 200 day moving average of $17.83. The company has a quick ratio of 2.15, a current ratio of 2.89 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $32.37 billion, a price-to-earnings ratio of 15.30, a price-to-earnings-growth ratio of 0.44 and a beta of 0.25. Barrick Gold Corp has a 52 week low of $15.11 and a 52 week high of $21.35.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its quarterly earnings results on Wednesday, May 7th. The gold and copper producer reported $0.35 EPS for the quarter, topping the consensus estimate of $0.29 by $0.06. Barrick Gold had a return on equity of 6.76% and a net margin of 16.59%. The firm had revenue of $3 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same period in the previous year, the company posted $0.19 EPS. The business’s revenue for the quarter was up 13.9% compared to the same quarter last year. On average, sell-side analysts predict that Barrick Gold Corp will post 1.47 earnings per share for the current fiscal year.

Barrick Gold Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend is Friday, May 30th. Barrick Gold’s dividend payout ratio is currently 32.52%.

Barrick Gold announced that its board has approved a share buyback plan on Wednesday, February 12th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the gold and copper producer to reacquire up to 3.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Barrick Gold Company 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.