Barrick Gold Corp (NYSE:GOLD) Shares Sold by Levin Capital Strategies L.P.

Levin Capital Strategies L.P. reduced its stake in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 2.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 218,747 shares of the gold and copper producer’s stock after selling 6,168 shares during the quarter. Levin Capital Strategies L.P.’s holdings in Barrick Gold were worth $3,957,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Creative Financial Designs Inc. ADV raised its stake in Barrick Gold by 7.1% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 9,100 shares of the gold and copper producer’s stock worth $165,000 after acquiring an additional 600 shares in the last quarter. Stratos Wealth Partners LTD. grew its position in Barrick Gold by 5.3% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 13,714 shares of the gold and copper producer’s stock worth $200,000 after purchasing an additional 689 shares during the last quarter. Legacy Wealth Asset Management LLC grew its position in Barrick Gold by 2.9% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 24,555 shares of the gold and copper producer’s stock worth $357,000 after purchasing an additional 694 shares during the last quarter. A. D. Beadell Investment Counsel Inc. grew its position in Barrick Gold by 1.2% during the 4th quarter. A. D. Beadell Investment Counsel Inc. now owns 59,825 shares of the gold and copper producer’s stock worth $1,082,000 after purchasing an additional 700 shares during the last quarter. Finally, Fifth Third Bancorp grew its position in Barrick Gold by 13.1% during the 3rd quarter. Fifth Third Bancorp now owns 6,067 shares of the gold and copper producer’s stock worth $88,000 after purchasing an additional 702 shares during the last quarter. 62.85% of the stock is currently owned by institutional investors and hedge funds.

Barrick Gold Price Performance

GOLD stock traded up $0.25 during trading on Thursday, reaching $16.61. 15,621,287 shares of the company were exchanged, compared to its average volume of 23,165,164. The company has a market cap of $29.16 billion, a P/E ratio of 22.97, a PEG ratio of 1.47 and a beta of 0.59. Barrick Gold Corp has a 52-week low of $13.76 and a 52-week high of $20.75. The stock’s 50 day moving average price is $16.26 and its 200 day moving average price is $16.34. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.40 and a current ratio of 3.16.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its quarterly earnings data on Wednesday, May 1st. The gold and copper producer reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.04. The firm had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.74 billion. Barrick Gold had a net margin of 11.16% and a return on equity of 4.64%. The firm’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.14 earnings per share. As a group, analysts predict that Barrick Gold Corp will post 0.95 earnings per share for the current fiscal year.

Barrick Gold Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.40 dividend on an annualized basis and a yield of 2.41%. This is a boost from Barrick Gold’s previous quarterly dividend of $0.07. Barrick Gold’s payout ratio is presently 55.56%.

Wall Street Analyst Weigh In

GOLD has been the topic of several research reports. National Bank Financial reissued a “sector perform overweight” rating on shares of Barrick Gold in a research report on Monday, April 8th. Sanford C. Bernstein downgraded shares of Barrick Gold from an “outperform” rating to a “market perform” rating in a report on Monday, January 8th. CIBC lowered their target price on shares of Barrick Gold from $27.00 to $23.00 and set an “outperform” rating on the stock in a report on Wednesday, February 7th. BMO Capital Markets lowered their target price on shares of Barrick Gold from $27.00 to $26.00 and set an “outperform” rating on the stock in a report on Wednesday, April 17th. Finally, StockNews.com raised shares of Barrick Gold from a “hold” rating to a “buy” rating in a report on Wednesday, February 21st. One analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $20.06.

About Barrick Gold

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.