DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Sells 725,363 Shares of Barrick Gold Corp (NYSE:B)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main cut its position in Barrick Gold Corp (NYSE:B - Free Report) TSE: ABX by 61.3% in the fourth quarter, according to its most recent Form 13F 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 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. lifted its position in Barrick Gold by 19.9% in the third quarter. Principal Financial Group Inc. now owns 483,613 shares of the gold and copper producer's stock valued at $9,630,000 after acquiring an additional 80,366 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Barrick Gold by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,073,717 shares of the gold and copper producer's stock valued at $78,637,000 after acquiring an additional 128,203 shares during the period. Crocodile Capital Partners GmbH grew its stake in shares of Barrick Gold by 97.3% in the 4th quarter. Crocodile Capital Partners GmbH now owns 1,460,000 shares of the gold and copper producer's stock valued at $22,630,000 after purchasing an additional 720,000 shares during the last quarter. Gateway Investment Advisers LLC grew its position in Barrick Gold by 6.9% in the 4th quarter. Gateway Investment Advisers LLC now owns 278,717 shares of the gold and copper producer's stock valued at $4,320,000 after buying an additional 17,980 shares during the last quarter. Finally, Smith Group Asset Management LLC acquired a new position in Barrick Gold in the 4th quarter valued at $1,240,000. Hedge funds and other institutional investors own 62.85% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. BMO Capital Markets assumed coverage on Barrick Gold in a report on Wednesday, April 16th. They issued a "market perform" rating on the stock. Bank of America downgraded shares of Barrick Gold from a "buy" rating to a "neutral" rating and decreased their target price for the company from $21.00 to $18.00 in a research note on Monday, January 27th. Scotiabank boosted their target price on shares of Barrick Gold from $20.00 to $22.00 and gave the stock a "sector perform" rating in a research report on Monday, April 14th. TD Securities dropped their price target on Barrick Gold from $24.00 to $23.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. Finally, Raymond James boosted their price objective on Barrick Gold from $23.00 to $23.50 and gave the company an "outperform" rating in a research report on Monday, March 31st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $24.05.

Barrick Gold Stock Down 2.9%

NYSE B traded down $0.53 during trading hours on Wednesday, hitting $17.63. 21,001,066 shares of the company traded hands, compared to its average volume of 942,808. 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 business's 50-day moving average is $19.08 and its 200-day moving average is $17.79. The stock has a market capitalization of $30.31 billion, a price-to-earnings ratio of 14.33, a P/E/G ratio of 0.44 and a beta of 0.25. Barrick Gold Corp has a twelve month low of $17.49 and a twelve month high of $47.50.

Barrick Gold (NYSE:B - Get Free Report) TSE: ABX last issued its earnings results on Wednesday, May 7th. The gold and copper producer reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.06. Barrick Gold had a net margin of 16.59% and a return on equity of 6.76%. 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 previous year, the company earned $0.19 earnings per share. The firm's revenue for the quarter was up 13.9% on a year-over-year basis. Sell-side analysts anticipate that Barrick Gold Corp will post 1.47 earnings per share for the current year.

Barrick Gold Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a yield of 2.27%. Barrick Gold's dividend payout ratio (DPR) is 30.08%.

Barrick Gold announced that its board has approved a stock repurchase program on Wednesday, February 12th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows 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 board of directors 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.