Main Street Group LTD Has $72,000 Stock Position in Barrick Gold Corp (NYSE:B)

Main Street Group LTD cut its holdings in Barrick Gold Corp (NYSE:B) (TSE:ABX) by 20.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,649 shares of the gold and copper producer’s stock after selling 1,232 shares during the period. Main Street Group LTD’s holdings in Barrick Gold were worth $72,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Crowley Wealth Management Inc. acquired a new position in shares of Barrick Gold during the 4th quarter worth about $26,000. Strategic Investment Solutions Inc. IL acquired a new position in Barrick Gold during the fourth quarter worth approximately $37,000. First Horizon Advisors Inc. raised its stake in Barrick Gold by 619.7% in the fourth quarter. First Horizon Advisors Inc. now owns 3,073 shares of the gold and copper producer’s stock valued at $48,000 after buying an additional 2,646 shares during the period. Pingora Partners LLC lifted its position in shares of Barrick Gold by 250.0% in the fourth quarter. Pingora Partners LLC now owns 3,500 shares of the gold and copper producer’s stock valued at $54,000 after buying an additional 2,500 shares during the last quarter. Finally, Exchange Traded Concepts LLC boosted its stake in shares of Barrick Gold by 196.9% during the 4th quarter. Exchange Traded Concepts LLC now owns 4,178 shares of the gold and copper producer’s stock worth $65,000 after acquiring an additional 2,771 shares during the period. Institutional investors own 62.85% of the company’s stock.

Barrick Gold Stock Performance

Shares of B opened at $18.15 on Wednesday. The firm has a market cap of $31.21 billion, a PE ratio of 14.76, a PEG ratio of 0.44 and a beta of 0.25. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.89 and a quick ratio of 2.15. The stock’s fifty day moving average price is $19.08 and its two-hundred day moving average price is $17.79. Barrick Gold Corp has a 1 year low of $17.98 and a 1 year high of $47.50.

Barrick Gold (NYSE:B) (TSE:ABX) last announced its quarterly earnings results on Wednesday, May 7th. The gold and copper producer reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.06. Barrick Gold had a return on equity of 6.76% and a net margin of 16.59%. The firm had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.15 billion. During the same period in the prior year, the business posted $0.19 earnings per share. The company’s revenue was up 13.9% on a year-over-year basis. On average, equities research analysts forecast that Barrick Gold Corp will post 1.47 EPS for the current year.

Barrick Gold declared that its board has initiated a share repurchase program on Wednesday, February 12th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the gold and copper producer to repurchase up to 3.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

Barrick Gold Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.40 dividend on an annualized basis and a yield of 2.20%. Barrick Gold’s payout ratio is 30.08%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on B. UBS Group lifted their price objective on shares of Barrick Gold from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, April 11th. Stifel Canada raised Barrick Gold to a “strong-buy” rating in a report on Wednesday, March 19th. Raymond James raised their price target on shares of Barrick Gold from $23.00 to $23.50 and gave the stock an “outperform” rating in a research report on Monday, March 31st. StockNews.com initiated coverage on shares of Barrick Gold in a research note on Monday. They issued a “sell” rating for the company. Finally, Royal Bank of Canada increased their target price on shares of Barrick Gold from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Friday, April 4th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $24.05.

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.