Gotham Asset Management LLC Trims Holdings in Barrick Gold Corp (NYSE:B)

Gotham Asset Management LLC decreased its holdings in Barrick Gold Corp (NYSE:B - Free Report) TSE: ABX by 79.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,617 shares of the gold and copper producer's stock after selling 113,155 shares during the period. Gotham Asset Management LLC's holdings in Barrick Gold were worth $459,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of B. Capital International Investors increased its stake in Barrick Gold by 136.1% in the fourth 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 position in shares of Barrick Gold during the fourth quarter valued at $172,225,000. Wellington Management Group LLP increased its stake in shares of Barrick Gold by 17.5% during the fourth quarter. Wellington Management Group LLP now owns 64,310,800 shares of the gold and copper producer's stock valued at $996,802,000 after buying an additional 9,598,292 shares during the period. FIL Ltd increased its stake in shares of Barrick Gold by 236.7% during the fourth quarter. FIL Ltd now owns 6,815,946 shares of the gold and copper producer's stock valued at $105,692,000 after buying an additional 4,791,663 shares during the period. Finally, Capital International Inc. CA purchased a new position in shares of Barrick Gold during the fourth quarter valued at $57,991,000. Hedge funds and other institutional investors own 90.82% of the company's stock.

Barrick Gold Price Performance

Shares of NYSE B opened at $18.19 on Tuesday. 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 cap of $31.28 billion, a PE ratio of 14.79, a P/E/G ratio of 0.44 and a beta of 0.25. The business has a 50-day simple moving average of $19.04 and a two-hundred day simple moving average of $17.72. Barrick Gold Corp has a fifty-two week low of $17.41 and a fifty-two week high of $47.50.

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 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 6.76% and a net margin of 16.59%. The company's quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter last year, the company earned $0.19 earnings per share. As a group, equities analysts expect that Barrick Gold Corp will post 1.47 EPS for the current fiscal year.

Barrick Gold announced that its board has approved a share buyback program on Wednesday, February 12th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the gold and copper producer to buy up to 3.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its stock is undervalued.

Barrick Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.20%. The ex-dividend date is Friday, May 30th. Barrick Gold's dividend payout ratio is presently 30.08%.

Analysts Set New Price Targets

Several equities analysts have recently commented on B shares. StockNews.com started coverage on Barrick Gold in a research note on Monday, May 12th. They set a "sell" rating on the stock. BMO Capital Markets started coverage on Barrick Gold in a research note on Wednesday, April 16th. They set a "market perform" rating on the stock. Raymond James raised their price target on Barrick Gold from $23.00 to $23.50 and gave the company an "outperform" rating in a research note on Monday, March 31st. Scotiabank lifted their target price on Barrick Gold from $20.00 to $22.00 and gave the company a "sector perform" rating in a research note on Monday, April 14th. Finally, Citigroup cut their target price on Barrick Gold from $21.00 to $17.00 and set a "neutral" rating on the stock in a research note on Monday, March 31st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Barrick Gold presently 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.

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