Barrick Gold Corp (NYSE:B) Shares Sold by Bangor Savings Bank

Bangor Savings Bank trimmed its position in shares of Barrick Gold Corp (NYSE:B - Free Report) TSE: ABX by 92.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,669 shares of the gold and copper producer's stock after selling 20,356 shares during the period. Bangor Savings Bank's holdings in Barrick Gold were worth $32,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Capital International Investors boosted its position in Barrick Gold by 136.1% during the 4th quarter. Capital International Investors now owns 33,293,792 shares of the gold and copper producer's stock worth $516,055,000 after purchasing an additional 19,189,830 shares during the period. Causeway Capital Management LLC purchased a new stake in Barrick Gold during the 4th quarter worth $172,225,000. Wellington Management Group LLP boosted its position in Barrick Gold by 17.5% during the 4th quarter. Wellington Management Group LLP now owns 64,310,800 shares of the gold and copper producer's stock worth $996,802,000 after purchasing an additional 9,598,292 shares during the period. FIL Ltd boosted its position in Barrick Gold by 236.7% during the 4th quarter. FIL Ltd now owns 6,815,946 shares of the gold and copper producer's stock worth $105,692,000 after purchasing an additional 4,791,663 shares during the period. Finally, Capital International Inc. CA purchased a new stake in Barrick Gold during the 4th quarter worth $57,991,000. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Barrick Gold Price Performance

Shares of NYSE:B opened at $19.83 on Monday. The company has a quick ratio of 2.15, a current ratio of 2.89 and a debt-to-equity ratio of 0.14. Barrick Gold Corp has a fifty-two week low of $17.41 and a fifty-two week high of $47.50. The firm has a 50-day simple moving average of $19.08 and a 200 day simple moving average of $17.87. The company has a market cap of $34.10 billion, a PE ratio of 16.12, a P/E/G ratio of 0.44 and a beta of 0.27.

Barrick Gold (NYSE:B - Get Free Report) TSE: ABX last announced its quarterly earnings data on Wednesday, May 7th. The gold and copper producer reported $0.35 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter in the prior year, the firm earned $0.19 EPS. The company's revenue for the quarter was up 13.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Barrick Gold Corp will post 1.47 EPS for the current year.

Barrick Gold declared that its board has approved a stock repurchase program 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 reacquire up to 3.2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's management believes its shares are undervalued.

Barrick Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend is Friday, May 30th. Barrick Gold's dividend payout ratio is presently 30.08%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Stifel Canada upgraded shares of Barrick Gold to a "strong-buy" rating in a report on Wednesday, March 19th. Citigroup cut their price objective on shares of Barrick Gold from $21.00 to $17.00 and set a "neutral" rating on the stock in a report on Monday, March 31st. Raymond James upped their target price on shares of Barrick Gold from $23.00 to $23.50 and gave the company an "outperform" rating in a research note on Monday, March 31st. National Bankshares restated an "outperform" rating on shares of Barrick Gold in a research note on Wednesday, April 2nd. Finally, Wall Street Zen upgraded shares of Barrick Gold from a "buy" rating to a "strong-buy" rating in a research note on Friday. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Barrick Gold currently has an average rating of "Moderate Buy" and a consensus price target of $24.32.

Barrick Gold 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.

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