Game Creek Capital LP Cuts Stock Position in Barrick Gold Corp (NYSE:B)

Game Creek Capital LP trimmed its stake in Barrick Gold Corp (NYSE:B - Free Report) TSE: ABX by 17.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 152,500 shares of the gold and copper producer's stock after selling 32,750 shares during the period. Barrick Gold comprises approximately 0.9% of Game Creek Capital LP's investment portfolio, making the stock its 28th biggest position. Game Creek Capital LP's holdings in Barrick Gold were worth $2,364,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Crowley Wealth Management Inc. acquired a new stake in shares of Barrick Gold during the 4th quarter worth approximately $26,000. Strategic Investment Solutions Inc. IL acquired a new stake in Barrick Gold in the 4th quarter valued at $37,000. First Horizon Advisors Inc. grew its position 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. Pingora Partners LLC boosted its holdings in Barrick Gold by 250.0% during the 4th quarter. Pingora Partners LLC now owns 3,500 shares of the gold and copper producer's stock worth $54,000 after acquiring an additional 2,500 shares during the last quarter. Finally, Exchange Traded Concepts LLC boosted its holdings in shares of Barrick Gold by 196.9% in the 4th quarter. Exchange Traded Concepts LLC now owns 4,178 shares of the gold and copper producer's stock worth $65,000 after buying an additional 2,771 shares during the last quarter. 62.85% of the stock is currently owned by institutional investors and hedge funds.

Barrick Gold Price Performance

Shares of NYSE:B traded up $0.23 during mid-day trading on Thursday, reaching $17.86. The stock had a trading volume of 1,980,302 shares, compared to its average volume of 960,552. The company has a current ratio of 2.89, a quick ratio of 2.15 and a debt-to-equity ratio of 0.14. The company has a market cap of $30.70 billion, a P/E ratio of 14.48, a price-to-earnings-growth ratio of 0.44 and a beta of 0.25. Barrick Gold Corp has a 1 year low of $17.38 and a 1 year high of $47.50. The business's 50 day moving average price is $19.06 and its 200 day moving average price is $17.79.

Barrick Gold (NYSE:B - Get Free Report) TSE: ABX last issued its quarterly earnings data on Wednesday, May 7th. The gold and copper producer reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.06. Barrick Gold had a return on equity of 6.76% and a net margin of 16.59%. The business had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same period in the prior year, the business posted $0.19 earnings per share. The company's quarterly revenue was up 13.9% compared to the same quarter last year. Research analysts expect that Barrick Gold Corp will post 1.47 EPS for the current fiscal year.

Barrick Gold Dividend Announcement

The business 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. This represents a $0.40 annualized dividend and a yield of 2.24%. The ex-dividend date is Friday, May 30th. Barrick Gold's dividend payout ratio is presently 30.08%.

Barrick Gold declared that its board has approved a share repurchase plan on Wednesday, February 12th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the gold and copper producer to buy up to 3.2% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board believes its stock is undervalued.

Analyst Ratings Changes

Several research firms have commented on B. National Bankshares reaffirmed an "outperform" rating on shares of Barrick Gold in a report on Wednesday, April 2nd. Scotiabank increased their price target on shares of Barrick Gold from $20.00 to $22.00 and gave the stock a "sector perform" rating in a report on Monday, April 14th. UBS Group increased their price target on shares of Barrick Gold from $22.00 to $25.00 and gave the stock a "buy" rating in a report on Friday, April 11th. Stifel Canada upgraded Barrick Gold to a "strong-buy" rating in a research report on Wednesday, March 19th. Finally, BMO Capital Markets started coverage on Barrick Gold in a research report on Wednesday, April 16th. They issued a "market perform" rating on the stock. One research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Barrick Gold has a consensus rating of "Moderate Buy" and a consensus target price of $24.05.

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.