Excalibur Management Corp Sells 1,085 Shares of Barrick Gold Corp (NYSE:GOLD)

Excalibur Management Corp cut its stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 6.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,238 shares of the gold and copper producer’s stock after selling 1,085 shares during the quarter. Excalibur Management Corp’s holdings in Barrick Gold were worth $252,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Advisors Asset Management Inc. raised its position in Barrick Gold by 2.0% during the third quarter. Advisors Asset Management Inc. now owns 57,896 shares of the gold and copper producer’s stock valued at $1,152,000 after purchasing an additional 1,159 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Barrick Gold by 5.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,945,514 shares of the gold and copper producer’s stock valued at $98,469,000 after purchasing an additional 244,057 shares in the last quarter. Raymond James Trust N.A. boosted its holdings in Barrick Gold by 22.0% in the third quarter. Raymond James Trust N.A. now owns 21,699 shares of the gold and copper producer’s stock worth $432,000 after acquiring an additional 3,917 shares in the last quarter. Meridian Wealth Management LLC acquired a new position in Barrick Gold during the third quarter worth $298,000. Finally, Cerity Partners LLC grew its stake in shares of Barrick Gold by 120.3% in the 3rd quarter. Cerity Partners LLC now owns 93,622 shares of the gold and copper producer’s stock worth $1,862,000 after acquiring an additional 51,117 shares in the last quarter. 62.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have commented on GOLD shares. Citigroup cut their target price on Barrick Gold from $23.00 to $17.00 and set a “neutral” rating for the company in a research note on Friday, December 20th. TD Securities reduced their price target on Barrick Gold from $24.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Bank of America lowered shares of Barrick Gold from a “buy” rating to a “neutral” rating and lowered their price target for the company from $21.00 to $18.00 in a report on Monday, January 27th. Raymond James reduced their price target on Barrick Gold from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Finally, National Bank Financial raised shares of Barrick Gold to a “hold” rating in a research report on Friday, March 21st. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $23.75.

Barrick Gold Price Performance

Shares of NYSE GOLD opened at $19.34 on Wednesday. The firm’s 50 day simple moving average is $17.64 and its 200-day simple moving average is $18.03. Barrick Gold Corp has a 12 month low of $0.25 and a 12 month high of $21.35. The stock has a market capitalization of $33.37 billion, a price-to-earnings ratio of 15.72, a PEG ratio of 0.44 and a beta of 0.58. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.89 and a quick ratio of 2.15.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its quarterly earnings results on Wednesday, February 12th. The gold and copper producer reported $0.46 EPS for the quarter, hitting the consensus estimate of $0.46. Barrick Gold had a return on equity of 6.76% and a net margin of 16.59%. Analysts expect that Barrick Gold Corp will post 1.47 EPS for the current year.

Barrick Gold announced that its board has approved a stock buyback program on Wednesday, February 12th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the gold and copper producer to reacquire up to 3.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Barrick Gold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.07%. Barrick Gold’s payout ratio is currently 32.52%.

Barrick Gold Company 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.