RWC Asset Management LLP Lowers Stock Holdings in Barrick Gold Corp (NYSE:GOLD)

RWC Asset Management LLP reduced its stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 4.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and 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 makes up approximately 4.5% of RWC Asset Management LLP’s holdings, making the stock its 5th largest holding. RWC Asset Management LLP owned approximately 0.23% of Barrick Gold worth $74,577,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Bruce G. Allen Investments LLC bought a new stake in Barrick Gold during the 4th quarter worth approximately $35,000. Cary Street Partners Investment Advisory LLC grew its position in Barrick Gold by 41.1% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 3,919 shares of the gold and copper producer’s stock worth $57,000 after acquiring an additional 1,142 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. bought a new stake in Barrick Gold during the 4th quarter worth approximately $61,000. Headlands Technologies LLC bought a new stake in Barrick Gold during the 3rd quarter worth approximately $75,000. Finally, Fifth Third Bancorp grew its position in Barrick Gold by 13.1% during the 3rd quarter. Fifth Third Bancorp now owns 6,067 shares of the gold and copper producer’s stock worth $88,000 after acquiring an additional 702 shares during the last quarter. 62.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on GOLD shares. Raymond James decreased their price target on Barrick Gold from $24.00 to $23.00 and set an “outperform” rating on the stock in a research report on Thursday, February 15th. CIBC decreased their price target on Barrick Gold from $27.00 to $23.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 7th. BMO Capital Markets reduced their price objective on Barrick Gold from $27.00 to $26.00 and set an “outperform” rating on the stock in a report on Wednesday, April 17th. TD Securities reduced their price objective on Barrick Gold from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Friday, February 16th. Finally, Sanford C. Bernstein downgraded Barrick Gold from an “outperform” rating to a “market perform” rating in a report on Monday, January 8th. 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $20.06.

Barrick Gold Trading Up 0.1 %

Shares of GOLD stock traded up $0.01 during trading hours on Friday, reaching $17.09. The company had a trading volume of 19,814,196 shares, compared to its average volume of 29,788,420. The company has a 50 day moving average of $16.14 and a 200 day moving average of $16.31. 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 firm has a market cap of $30.00 billion, a price-to-earnings ratio of 23.74, a P/E/G ratio of 1.50 and a beta of 0.58. Barrick Gold Corp has a 1-year low of $13.76 and a 1-year high of $20.75.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its quarterly earnings data on Wednesday, February 14th. The gold and copper producer reported $0.27 EPS for the quarter, topping the consensus estimate of $0.21 by $0.06. The business had revenue of $3.06 billion for 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 quarter last year, the business posted $0.13 EPS. On average, equities research analysts anticipate that Barrick Gold Corp will post 0.95 EPS for the current year.

Barrick Gold Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were paid a dividend of $0.074 per share. This represents a $0.30 annualized dividend and a yield of 1.73%. The ex-dividend date was Wednesday, February 28th. Barrick Gold’s payout ratio is presently 55.56%.

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.