Massachusetts Financial Services Co. MA Cuts Stock Position in Barrick Gold Corp (NYSE:GOLD)

Massachusetts Financial Services Co. MA cut its holdings in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 46.4% during the second quarter, Holdings Channel reports. The firm owned 353,225 shares of the gold and copper producer’s stock after selling 306,224 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Barrick Gold were worth $7,305,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in GOLD. Clearline Capital LP acquired a new position in Barrick Gold in the first quarter valued at approximately $4,721,000. Optiver Holding B.V. purchased a new stake in shares of Barrick Gold during the first quarter worth approximately $45,972,000. Dimensional Fund Advisors LP raised its stake in shares of Barrick Gold by 5.8% during the first quarter. Dimensional Fund Advisors LP now owns 1,686,251 shares of the gold and copper producer’s stock worth $33,388,000 after purchasing an additional 92,907 shares during the last quarter. Jupiter Asset Management Ltd. raised its position in Barrick Gold by 51.8% in the second quarter. Jupiter Asset Management Ltd. now owns 5,439,628 shares of the gold and copper producer’s stock worth $112,492,000 after acquiring an additional 1,855,845 shares in the last quarter. Finally, XTX Topco Ltd purchased a new position in Barrick Gold in the first quarter worth $1,248,000. 54.50% of the stock is owned by institutional investors and hedge funds.

NYSE GOLD opened at $19.23 on Thursday. The stock has a 50-day simple moving average of $19.30 and a 200 day simple moving average of $21.09. The company has a debt-to-equity ratio of 0.16, a quick ratio of 3.46 and a current ratio of 4.47. The stock has a market capitalization of $34.20 billion, a PE ratio of 13.54, a P/E/G ratio of 7.71 and a beta of 0.27. Barrick Gold Corp has a twelve month low of $17.56 and a twelve month high of $29.60.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its quarterly earnings data on Sunday, August 8th. The gold and copper producer reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.03. The company had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.92 billion. Barrick Gold had a return on equity of 7.40% and a net margin of 19.86%. The company’s revenue was down 5.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.23 EPS. As a group, equities research analysts forecast that Barrick Gold Corp will post 1.25 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 15th. Shareholders of record on Tuesday, August 31st were given a $0.09 dividend. The ex-dividend date of this dividend was Monday, August 30th. This represents a $0.36 dividend on an annualized basis and a yield of 1.87%. Barrick Gold’s payout ratio is 31.30%.

Several analysts have weighed in on GOLD shares. National Bankshares lowered their target price on Barrick Gold from C$37.00 to C$36.00 and set an “outperform” rating on the stock in a report on Friday, September 10th. National Bank Financial decreased their price target on Barrick Gold from C$38.00 to C$37.00 and set an “outperform” rating on the stock in a research note on Monday, August 23rd. UBS Group restated a “buy” rating and issued a $25.00 price objective on shares of Barrick Gold in a report on Tuesday, August 3rd. KeyCorp assumed coverage on Barrick Gold in a report on Friday, September 24th. They issued a “sector weight” rating on the stock. Finally, TD Securities dropped their target price on Barrick Gold from $29.00 to $27.00 and set an “action list buy” rating on the stock in a report on Tuesday, August 10th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $34.27.

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.

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Institutional Ownership by Quarter for Barrick Gold (NYSE:GOLD)

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