Game Creek Capital LP Sells 32,750 Shares of Barrick Gold Corp (NYSE:B)

Game Creek Capital LP decreased its holdings in Barrick Gold Corp (NYSE:B - Free Report) TSE: ABX by 17.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 152,500 shares of the gold and copper producer's stock after selling 32,750 shares during the quarter. Barrick Gold accounts for about 0.9% of Game Creek Capital LP's holdings, making the stock its 28th biggest holding. Game Creek Capital LP's holdings in Barrick Gold were worth $2,364,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in B. Principal Financial Group Inc. raised its position in Barrick Gold by 19.9% in the 3rd quarter. Principal Financial Group Inc. now owns 483,613 shares of the gold and copper producer's stock valued at $9,630,000 after purchasing an additional 80,366 shares during the last quarter. City State Bank raised its position in Barrick Gold by 200.0% in the 4th quarter. City State Bank now owns 7,500 shares of the gold and copper producer's stock valued at $116,000 after purchasing an additional 5,000 shares during the last quarter. Oak Asset Management LLC raised its position in Barrick Gold by 60.6% in the 4th quarter. Oak Asset Management LLC now owns 23,850 shares of the gold and copper producer's stock valued at $370,000 after purchasing an additional 9,000 shares during the last quarter. SeaCrest Wealth Management LLC purchased a new stake in Barrick Gold in the 4th quarter valued at $218,000. Finally, Assenagon Asset Management S.A. raised its position in Barrick Gold by 593.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 749,603 shares of the gold and copper producer's stock valued at $11,619,000 after purchasing an additional 641,455 shares during the last quarter. Hedge funds and other institutional investors own 62.85% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Stifel Canada raised shares of Barrick Gold to a "strong-buy" rating in a research note on Wednesday, March 19th. Royal Bank of Canada boosted their price objective on shares of Barrick Gold from $22.00 to $23.00 and gave the company an "outperform" rating in a research note on Friday, April 4th. StockNews.com started coverage on shares of Barrick Gold in a research note on Monday. They issued a "sell" rating on the stock. Citigroup lowered their price objective on shares of Barrick Gold from $21.00 to $17.00 and set a "neutral" rating on the stock in a research note on Monday, March 31st. Finally, Scotiabank raised their price target on shares of Barrick Gold from $20.00 to $22.00 and gave the stock a "sector perform" rating in a research note on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $24.05.

Barrick Gold Stock Down 2.8%

Shares of B stock traded down $0.52 during mid-day trading on Wednesday, reaching $17.65. 4,844,770 shares of the company were exchanged, compared to its average volume of 856,877. Barrick Gold Corp has a fifty-two week low of $17.61 and a fifty-two week 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. The company has a market capitalization of $30.34 billion, a P/E ratio of 14.37, a P/E/G ratio of 0.44 and a beta of 0.25. The business's 50 day simple moving average is $19.08 and its 200 day simple moving average is $17.79.

Barrick Gold (NYSE:B - Get Free Report) TSE: ABX last issued 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. The firm had revenue of $3 billion for the quarter, compared to analysts' expectations of $3.15 billion. Barrick Gold had a net margin of 16.59% and a return on equity of 6.76%. Barrick Gold's revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.19 earnings per share. Research analysts predict that Barrick Gold Corp will post 1.47 earnings per share for the current year.

Barrick Gold Announces Dividend

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 paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.40 annualized dividend and a dividend yield of 2.27%. Barrick Gold's payout ratio is 30.08%.

Barrick Gold announced that its Board of Directors has initiated a share repurchase program on Wednesday, February 12th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the gold and copper producer to reacquire up to 3.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are 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.