SouthState Corp Has $8.12 Million Holdings in Barrick Gold Corp (NYSE:GOLD)

SouthState Corp trimmed its position in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 1.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 449,086 shares of the gold and copper producer’s stock after selling 8,856 shares during the quarter. SouthState Corp’s holdings in Barrick Gold were worth $8,124,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Van ECK Associates Corp lifted its position in shares of Barrick Gold by 9.7% in the fourth quarter. Van ECK Associates Corp now owns 80,933,517 shares of the gold and copper producer’s stock worth $1,464,070,000 after purchasing an additional 7,150,142 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Barrick Gold by 35.0% in the third quarter. Wellington Management Group LLP now owns 63,551,991 shares of the gold and copper producer’s stock worth $925,121,000 after acquiring an additional 16,485,756 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Barrick Gold by 1.6% in the third quarter. Vanguard Group Inc. now owns 62,567,785 shares of the gold and copper producer’s stock worth $910,361,000 after acquiring an additional 956,452 shares during the last quarter. FMR LLC increased its stake in shares of Barrick Gold by 12.2% in the third quarter. FMR LLC now owns 43,399,480 shares of the gold and copper producer’s stock valued at $631,228,000 after buying an additional 4,731,559 shares during the period. Finally, Mackenzie Financial Corp increased its position in Barrick Gold by 4.4% during the 4th quarter. Mackenzie Financial Corp now owns 18,783,046 shares of the gold and copper producer’s stock valued at $339,524,000 after purchasing an additional 787,829 shares during the period. 62.85% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Jefferies Financial Group began coverage on Barrick Gold in a report on Thursday, February 29th. They issued a “buy” rating and a $21.00 target price on the stock. National Bank Financial reiterated a “sector perform overweight” rating on shares of Barrick Gold in a research report on Monday, April 8th. Scotiabank reduced their target price on Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, February 20th. Sanford C. Bernstein cut Barrick Gold from an “outperform” rating to a “market perform” rating in a research note on Monday, January 8th. Finally, TD Securities dropped their target price on Barrick Gold from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $20.06.

Barrick Gold Stock Performance

Shares of GOLD stock traded up $0.19 during trading on Thursday, hitting $16.55. The company’s stock had a trading volume of 18,864,117 shares, compared to its average volume of 23,211,475. Barrick Gold Corp has a 52 week low of $13.76 and a 52 week high of $20.75. The company has a current ratio of 3.16, a quick ratio of 2.40 and a debt-to-equity ratio of 0.15. The business has a fifty day moving average of $16.26 and a 200-day moving average of $16.34. The company has a market cap of $29.06 billion, a PE ratio of 22.97, a P/E/G ratio of 1.47 and a beta of 0.59.

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

Barrick Gold Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors 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 is a positive change from Barrick Gold’s previous quarterly dividend of $0.07. This represents a $0.40 dividend on an annualized basis and a yield of 2.42%. Barrick Gold’s payout ratio is presently 55.56%.

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.