RWC Asset Management LLP Has $74.58 Million Holdings in Barrick Gold Corp (NYSE:GOLD)

RWC Asset Management LLP reduced its stake in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 4.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,122,549 shares of the gold and copper producer’s stock after selling 213,145 shares during the period. Barrick Gold comprises 4.5% of RWC Asset Management LLP’s investment portfolio, making the stock its 5th biggest position. RWC Asset Management LLP’s holdings in Barrick Gold were worth $74,577,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Creative Financial Designs Inc. ADV boosted its holdings in Barrick Gold by 7.1% in 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 buying an additional 600 shares during the period. Stratos Wealth Partners LTD. boosted its holdings in Barrick Gold by 5.3% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 13,714 shares of the gold and copper producer’s stock worth $200,000 after buying an additional 689 shares during the period. Legacy Wealth Asset Management LLC boosted its holdings in Barrick Gold by 2.9% in 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 buying an additional 694 shares during the period. A. D. Beadell Investment Counsel Inc. boosted its holdings in Barrick Gold by 1.2% in 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 buying an additional 700 shares during the period. Finally, Fifth Third Bancorp boosted its holdings in Barrick Gold by 13.1% in the 3rd quarter. Fifth Third Bancorp now owns 6,067 shares of the gold and copper producer’s stock worth $88,000 after buying an additional 702 shares during the period. 62.85% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on GOLD shares. Raymond James cut their price objective on shares of Barrick Gold from $24.00 to $23.00 and set an “outperform” rating for the company in a report on Thursday, February 15th. Royal Bank of Canada reiterated an “outperform” rating and issued a $18.00 target price on shares of Barrick Gold in a research note on Monday, March 4th. Sanford C. Bernstein cut shares of Barrick Gold from an “outperform” rating to a “market perform” rating in a research note on Monday, January 8th. Scotiabank lowered their target price on shares of 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. Finally, Jefferies Financial Group started coverage on shares of Barrick Gold in a research note on Thursday, February 29th. They issued a “buy” rating and a $21.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $20.06.

Barrick Gold Price Performance

Shares of Barrick Gold stock traded up $0.01 on Friday, hitting $17.09. 19,814,196 shares of the company traded hands, compared to its average volume of 29,788,420. The firm’s 50-day simple moving average is $16.14 and its 200 day simple moving average is $16.31. 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 company has a market cap of $30.00 billion, a P/E ratio of 23.74, a P/E/G ratio of 1.50 and a beta of 0.58. Barrick Gold Corp has a 12-month low of $13.76 and a 12-month high of $20.75.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its quarterly earnings data on Wednesday, February 14th. The gold and copper producer reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.06. The firm had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.13 billion. Barrick Gold had a net margin of 11.16% and a return on equity of 4.64%. During the same quarter last year, the company posted $0.13 EPS. Analysts expect that Barrick Gold Corp will post 0.95 earnings per share for the current fiscal year.

Barrick Gold Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were given a dividend of $0.074 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.30 dividend on an annualized basis and a yield of 1.73%. Barrick Gold’s dividend payout ratio (DPR) is currently 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.