Silvercrest Asset Management Group LLC Trims Position in Barrick Gold Corp (NYSE:B)

Silvercrest Asset Management Group LLC lowered its stake in Barrick Gold Corp (NYSE:B - Free Report) TSE: ABX by 45.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,986 shares of the gold and copper producer's stock after selling 24,814 shares during the period. Silvercrest Asset Management Group LLC's holdings in Barrick Gold were worth $465,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Crowley Wealth Management Inc. bought a new position in shares of Barrick Gold during the fourth quarter valued at about $26,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Barrick Gold in the fourth quarter worth about $37,000. First Horizon Advisors Inc. increased its holdings in Barrick Gold by 619.7% during 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 raised its position 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 valued at $54,000 after purchasing an additional 2,500 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new stake in Barrick Gold in the 4th quarter worth approximately $65,000. Institutional investors own 90.82% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on B shares. Wall Street Zen began coverage on shares of Barrick Gold in a research note on Monday, May 12th. They set a "sell" rating on the stock. TD Securities cut their price objective 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. Stifel Canada upgraded Barrick Gold to a "strong-buy" rating in a report on Wednesday, March 19th. UBS Group raised their target price on Barrick Gold from $22.00 to $25.00 and gave the company a "buy" rating in a research note on Friday, April 11th. Finally, BMO Capital Markets initiated coverage on Barrick Gold in a research report on Wednesday, April 16th. They set a "market perform" rating on the stock. One equities 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 company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $24.05.

Barrick Gold Stock Up 2.2%

Shares of NYSE B traded up $0.41 during trading on Monday, reaching $19.08. The company had a trading volume of 11,874,351 shares, compared to its average volume of 1,553,534. Barrick Gold Corp has a 12-month low of $17.41 and a 12-month high of $47.50. The company has a quick ratio of 2.15, a current ratio of 2.89 and a debt-to-equity ratio of 0.14. The business's 50-day moving average is $19.03 and its 200 day moving average is $17.72. The stock has a market cap of $32.80 billion, a PE ratio of 15.51, a P/E/G ratio of 0.44 and a beta of 0.25.

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 EPS for the quarter, beating the consensus estimate of $0.29 by $0.06. The company had revenue of $3 billion for 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%. Barrick Gold's revenue for the quarter was up 13.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.19 EPS. As a group, equities analysts forecast that Barrick Gold Corp will post 1.47 earnings per share for the current fiscal year.

Barrick Gold announced that its board has approved a stock 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 purchase up to 3.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board of directors believes its stock is undervalued.

Barrick Gold Announces Dividend

The company also recently declared 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 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend is Friday, May 30th. Barrick Gold's dividend payout ratio (DPR) is currently 30.08%.

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.