Mizuho Securities Co. Ltd. Sells 18,390 Shares of Barrick Gold Corp (NYSE:GOLD)

Mizuho Securities Co. Ltd. trimmed its position in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 83.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,660 shares of the gold and copper producer’s stock after selling 18,390 shares during the period. Barrick Gold comprises 0.8% of Mizuho Securities Co. Ltd.’s portfolio, making the stock its 26th biggest holding. Mizuho Securities Co. Ltd.’s holdings in Barrick Gold were worth $56,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Crowley Wealth Management Inc. purchased a new position in shares of Barrick Gold in the fourth quarter worth approximately $26,000. BNP Paribas boosted its stake in shares of Barrick Gold by 221.7% during the 3rd quarter. BNP Paribas now owns 3,066 shares of the gold and copper producer’s stock worth $62,000 after acquiring an additional 2,113 shares during the last quarter. First Horizon Advisors Inc. grew its position in shares of Barrick Gold by 619.7% during the 4th quarter. First Horizon Advisors Inc. now owns 3,073 shares of the gold and copper producer’s stock valued at $48,000 after acquiring an additional 2,646 shares during the period. Newbridge Financial Services Group Inc. purchased a new stake in shares of Barrick Gold in the 4th quarter worth $65,000. Finally, Exchange Traded Concepts LLC raised its holdings in Barrick Gold by 196.9% in the 4th quarter. Exchange Traded Concepts LLC now owns 4,178 shares of the gold and copper producer’s stock worth $65,000 after purchasing an additional 2,771 shares during the period. 62.85% of the stock is currently owned by institutional investors.

Barrick Gold Trading Up 2.4 %

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

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its quarterly earnings data on Wednesday, February 12th. The gold and copper producer reported $0.46 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.46. Barrick Gold had a return on equity of 6.76% and a net margin of 16.59%. Equities research analysts predict that Barrick Gold Corp will post 1.47 EPS for the current fiscal year.

Barrick Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.40 annualized dividend and a yield of 2.07%. Barrick Gold’s dividend payout ratio (DPR) is currently 32.52%.

Barrick Gold announced that its board has authorized a share repurchase program on Wednesday, February 12th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the gold and copper producer to repurchase up to 3.2% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Several analysts have issued reports on GOLD shares. Scotiabank boosted their price target on Barrick Gold from $19.00 to $20.00 and gave the company a “sector perform” rating in a report on Tuesday, February 18th. Bank of America lowered shares of Barrick Gold from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $21.00 to $18.00 in a report on Monday, January 27th. Citigroup lowered their price target on shares of Barrick Gold from $23.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday, December 20th. Raymond James reduced their price objective on shares of Barrick Gold from $25.00 to $24.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Finally, Berenberg Bank upped their target price on shares of Barrick Gold from $37.00 to $38.00 in a report on Tuesday, November 26th. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $23.75.

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.