OMERS ADMINISTRATION Corp Sells 42,809 Shares of Barrick Gold Corp (NYSE:B)

OMERS ADMINISTRATION Corp cut its holdings in shares of Barrick Gold Corp (NYSE:B - Free Report) TSE: ABX by 38.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 68,740 shares of the gold and copper producer's stock after selling 42,809 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Barrick Gold were worth $1,065,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Keystone Financial Group grew its holdings in shares of Barrick Gold by 1.4% during the fourth quarter. Keystone Financial Group now owns 56,394 shares of the gold and copper producer's stock worth $874,000 after buying an additional 753 shares during the last quarter. VisionPoint Advisory Group LLC raised its position in shares of Barrick Gold by 6.7% in the fourth quarter. VisionPoint Advisory Group LLC now owns 14,051 shares of the gold and copper producer's stock valued at $224,000 after buying an additional 880 shares during the last quarter. Townsquare Capital LLC grew its holdings in Barrick Gold by 0.3% in the fourth quarter. Townsquare Capital LLC now owns 285,355 shares of the gold and copper producer's stock valued at $4,423,000 after purchasing an additional 952 shares during the period. Mesirow Financial Investment Management Inc. grew its holdings in Barrick Gold by 3.5% in the fourth quarter. Mesirow Financial Investment Management Inc. now owns 30,510 shares of the gold and copper producer's stock valued at $473,000 after purchasing an additional 1,035 shares during the period. Finally, Coastal Bridge Advisors LLC lifted its stake in shares of Barrick Gold by 7.5% during the fourth quarter. Coastal Bridge Advisors LLC now owns 14,909 shares of the gold and copper producer's stock worth $231,000 after purchasing an additional 1,045 shares in the last quarter. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Barrick Gold Stock Performance

Barrick Gold stock traded up $0.49 during mid-day trading on Tuesday, hitting $18.69. 13,767,053 shares of the company's stock traded hands, compared to its average volume of 1,313,876. Barrick Gold Corp has a fifty-two week low of $17.41 and a fifty-two week high of $47.50. The stock has a market cap of $32.14 billion, a price-to-earnings ratio of 15.20, a P/E/G ratio of 0.44 and a beta of 0.25. The firm has a 50 day simple moving average of $19.04 and a two-hundred day simple moving average of $17.72. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.89 and a quick ratio of 2.15.

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 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.06. Barrick Gold had a return on equity of 6.76% and a net margin of 16.59%. The company had revenue of $3 billion for the quarter, compared to analysts' expectations of $3.15 billion. During the same quarter last year, the business earned $0.19 earnings per share. Barrick Gold's revenue was up 13.9% on a year-over-year basis. On average, research analysts expect that Barrick Gold Corp will post 1.47 EPS for the current fiscal year.

Barrick Gold declared that its board has approved a share buyback program on Wednesday, February 12th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the gold and copper producer to purchase up to 3.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its shares are undervalued.

Barrick Gold Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts have commented on B shares. UBS Group increased their price objective on shares of Barrick Gold from $22.00 to $25.00 and gave the company a "buy" rating in a research note on Friday, April 11th. StockNews.com began coverage on shares of Barrick Gold in a report on Monday, May 12th. They issued a "sell" rating for the company. National Bankshares reaffirmed an "outperform" rating on shares of Barrick Gold in a research note on Wednesday, April 2nd. Bank of America lowered shares of Barrick Gold from a "buy" rating to a "neutral" rating and cut their price objective for the company from $21.00 to $18.00 in a research report on Monday, January 27th. Finally, Stifel Canada raised shares of Barrick Gold to a "strong-buy" rating in a research report on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $24.05.

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.