BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 304,962 Shares of Barrick Gold Corp (NYSE:B)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its holdings in Barrick Gold Corp (NYSE:B - Free Report) TSE: ABX by 28.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 770,787 shares of the gold and copper producer's stock after selling 304,962 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Barrick Gold were worth $11,937,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Barrick Gold by 37.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,438,944 shares of the gold and copper producer's stock worth $22,304,000 after purchasing an additional 390,531 shares during the period. USS Investment Management Ltd raised its holdings in Barrick Gold by 276.2% in the fourth quarter. USS Investment Management Ltd now owns 439,815 shares of the gold and copper producer's stock worth $6,808,000 after purchasing an additional 322,915 shares during the period. Voloridge Investment Management LLC acquired a new stake in Barrick Gold in the fourth quarter worth $12,615,000. Twinbeech Capital LP acquired a new stake in Barrick Gold in the fourth quarter worth $334,000. Finally, Two Sigma Advisers LP raised its holdings in Barrick Gold by 7.4% in the fourth quarter. Two Sigma Advisers LP now owns 3,875,500 shares of the gold and copper producer's stock worth $60,070,000 after purchasing an additional 266,900 shares during the period. 90.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on B. National Bank Financial upgraded shares of Barrick Gold to a "hold" rating in a report on Friday, March 21st. Scotiabank increased their target price 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. Royal Bank of Canada increased their target price on shares of Barrick Gold from $22.00 to $23.00 and gave the stock an "outperform" rating in a report on Friday, April 4th. TD Securities cut their target price on shares of Barrick Gold from $24.00 to $23.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. Finally, National Bankshares reiterated an "outperform" rating on shares of Barrick Gold in a report on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $24.05.

Barrick Gold Stock Down 0.8%

Barrick Gold stock opened at $18.67 on Friday. The company has a market cap of $32.10 billion, a P/E ratio of 15.18, a price-to-earnings-growth ratio of 0.44 and a beta of 0.25. Barrick Gold Corp has a 1-year low of $17.41 and a 1-year high of $47.50. The company has a fifty day simple moving average of $19.03 and a 200 day simple moving average of $17.73. The company has a current ratio of 2.89, a quick ratio of 2.15 and a debt-to-equity ratio of 0.14.

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

Barrick Gold declared that its Board of Directors has approved 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 shares through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Barrick Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date is Friday, May 30th. Barrick Gold's dividend payout ratio (DPR) is currently 30.08%.

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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