Duality Advisers LP Cuts Stock Holdings in Barrick Gold Corp (NYSE:GOLD)

Duality Advisers LP lowered its stake in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 39.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 48,835 shares of the gold and copper producer’s stock after selling 31,271 shares during the quarter. Duality Advisers LP’s holdings in Barrick Gold were worth $883,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Bruce G. Allen Investments LLC purchased a new position in shares of Barrick Gold during the fourth quarter worth about $35,000. Cary Street Partners Investment Advisory LLC grew its holdings in shares of Barrick Gold by 41.1% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 3,919 shares of the gold and copper producer’s stock worth $57,000 after purchasing an additional 1,142 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Barrick Gold during the fourth quarter worth about $61,000. Headlands Technologies LLC purchased a new position in shares of Barrick Gold during the third quarter worth about $75,000. Finally, Fifth Third Bancorp grew its holdings in shares of Barrick Gold by 13.1% during the third 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. Hedge funds and other institutional investors own 62.85% of the company’s stock.

Barrick Gold Price Performance

GOLD stock opened at $16.51 on Thursday. The firm has a 50 day moving average of $16.04 and a 200-day moving average of $16.28. Barrick Gold Corp has a 12-month low of $13.76 and a 12-month 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 company has a market cap of $28.99 billion, a price-to-earnings ratio of 22.93, a PEG ratio of 1.52 and a beta of 0.58.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its quarterly earnings results on Wednesday, February 14th. The gold and copper producer reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.06. Barrick Gold had a net margin of 11.16% and a return on equity of 4.64%. The company had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same period last year, the firm earned $0.13 EPS. As a group, equities analysts expect that Barrick Gold Corp will post 0.9 EPS for the current fiscal year.

Barrick Gold Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders 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 dividend yield of 1.79%. Barrick Gold’s payout ratio is 55.56%.

Analysts Set New Price Targets

GOLD has been the topic of several research reports. Scotiabank dropped their price objective on Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating on the stock in a report on Tuesday, February 20th. BMO Capital Markets decreased their target price on shares of Barrick Gold from $27.00 to $26.00 and set an “outperform” rating for the company in a research note on Wednesday, April 17th. StockNews.com upgraded shares of Barrick Gold from a “hold” rating to a “buy” rating in a research note on Wednesday, February 21st. Argus reiterated a “hold” rating on shares of Barrick Gold in a research note on Monday, February 26th. Finally, Raymond James decreased their target price on shares of Barrick Gold from $24.00 to $23.00 and set an “outperform” rating for the company in a research note on Thursday, February 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Barrick Gold currently has a consensus rating of “Moderate Buy” and an average price target of $20.06.

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.