Janus Henderson Group PLC Sells 307,911 Shares of Barrick Gold Corp (NYSE:B)

Janus Henderson Group PLC cut its holdings in shares of Barrick Gold Corp (NYSE:B) (TSE:ABX) by 36.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 541,819 shares of the gold and copper producer’s stock after selling 307,911 shares during the quarter. Janus Henderson Group PLC’s holdings in Barrick Gold were worth $8,394,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Crowley Wealth Management Inc. bought a new stake in shares of Barrick Gold in the fourth quarter worth about $26,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Barrick Gold in the fourth quarter worth about $37,000. First Horizon Advisors Inc. increased its holdings in shares of Barrick Gold by 619.7% in the fourth quarter. First Horizon Advisors Inc. now owns 3,073 shares of the gold and copper producer’s stock worth $48,000 after purchasing an additional 2,646 shares during the last quarter. Pingora Partners LLC increased its holdings in shares of Barrick Gold by 250.0% in the fourth quarter. Pingora Partners LLC now owns 3,500 shares of the gold and copper producer’s stock worth $54,000 after purchasing an additional 2,500 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its holdings in shares of Barrick Gold by 196.9% in the fourth quarter. Exchange Traded Concepts LLC now owns 4,178 shares of the gold and copper producer’s stock worth $65,000 after purchasing an additional 2,771 shares during the last quarter. 90.82% of the stock is owned by institutional investors.

Barrick Gold Trading Down 0.6%

B opened at $17.85 on Friday. The stock has a market cap of $30.69 billion, a price-to-earnings ratio of 14.51, a P/E/G ratio of 0.44 and a beta of 0.25. The stock’s 50 day moving average price is $19.04 and its 200-day moving average price is $17.74. Barrick Gold Corp has a one year low of $17.41 and a one year high of $47.50. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.15 and a current ratio of 2.89.

Barrick Gold (NYSE:B) (TSE:ABX) last released its earnings results on Wednesday, May 7th. The gold and copper producer reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.06. The firm had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.15 billion. Barrick Gold had a return on equity of 6.76% and a net margin of 16.59%. The company’s quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.19 earnings per share. On average, equities analysts forecast that Barrick Gold Corp will post 1.47 EPS for the current year.

Barrick Gold Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be issued a $0.10 dividend. The ex-dividend date is Friday, May 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.24%. Barrick Gold’s payout ratio is 30.08%.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on B shares. National Bank Financial raised Barrick Gold to a “hold” rating in a report on Friday, March 21st. National Bankshares reaffirmed an “outperform” rating on shares of Barrick Gold in a report on Wednesday, April 2nd. Citigroup reduced their price objective on Barrick Gold from $21.00 to $17.00 and set a “neutral” rating on the stock in a research note on Monday, March 31st. Royal Bank of Canada boosted their price objective on Barrick Gold from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Friday, April 4th. Finally, TD Securities reduced their price objective on Barrick Gold from $24.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. One analyst has rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $24.05.

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.