Parkside Financial Bank & Trust Buys 8,000 Shares of Barrick Gold Corp (NYSE:GOLD)

Parkside Financial Bank & Trust raised its stake in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 19,047.6% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 8,042 shares of the gold and copper producer’s stock after acquiring an additional 8,000 shares during the period. Parkside Financial Bank & Trust’s holdings in Barrick Gold were worth $145,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of GOLD. Wellington Management Group LLP increased its position in shares of Barrick Gold by 35.0% during the 3rd quarter. Wellington Management Group LLP now owns 63,551,991 shares of the gold and copper producer’s stock valued at $925,121,000 after purchasing an additional 16,485,756 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Barrick Gold by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 62,567,785 shares of the gold and copper producer’s stock valued at $910,361,000 after purchasing an additional 956,452 shares during the last quarter. FMR LLC increased its position in shares of Barrick Gold by 12.2% during the 3rd quarter. FMR LLC now owns 43,399,480 shares of the gold and copper producer’s stock valued at $631,228,000 after purchasing an additional 4,731,559 shares during the last quarter. Mackenzie Financial Corp increased its position in shares of 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 last quarter. Finally, Ninety One UK Ltd increased its position in shares of Barrick Gold by 13.2% during the 4th quarter. Ninety One UK Ltd now owns 16,022,022 shares of the gold and copper producer’s stock valued at $289,838,000 after purchasing an additional 1,870,059 shares during the last quarter. Institutional investors own 62.85% of the company’s stock.

Barrick Gold Trading Down 1.1 %

GOLD stock opened at $16.51 on Thursday. Barrick Gold Corp has a 1-year low of $13.76 and a 1-year high of $20.75. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.16 and a quick ratio of 2.40. The company has a market capitalization of $28.99 billion, a price-to-earnings ratio of 22.93, a PEG ratio of 1.55 and a beta of 0.58. The business has a 50 day simple moving average of $16.04 and a two-hundred day simple moving average of $16.28.

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 for the quarter, topping the consensus estimate of $0.21 by $0.06. The business had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.13 billion. Barrick Gold had a return on equity of 4.64% and a net margin of 11.16%. During the same period in the prior year, the company posted $0.13 EPS. Research analysts anticipate that Barrick Gold Corp will post 0.9 EPS for the current fiscal year.

Barrick Gold Cuts Dividend

The company also recently announced 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 dividend payout ratio is currently 55.56%.

Analysts Set New Price Targets

Several research firms have recently commented on GOLD. StockNews.com raised shares of Barrick Gold from a “hold” rating to a “buy” rating in a research report on Wednesday, February 21st. Sanford C. Bernstein lowered shares of Barrick Gold from an “outperform” rating to a “market perform” rating in a research report on Monday, January 8th. TD Securities reduced their target price on shares of Barrick Gold from $22.00 to $21.00 and set a “buy” rating for the company in a report on Friday, February 16th. National Bank Financial reissued a “sector perform overweight” rating on shares of Barrick Gold in a report on Monday, April 8th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $18.00 target price on shares of Barrick Gold in a report on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price 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.