Hara Capital LLC Reduces Stock Position in Barrick Gold Corp (NYSE:GOLD)

Hara Capital LLC reduced its position in shares of Barrick Gold Corp (NYSE:GOLD - Free Report) TSE: ABX by 53.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,374 shares of the gold and copper producer's stock after selling 45,579 shares during the period. Hara Capital LLC's holdings in Barrick Gold were worth $610,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Exchange Traded Concepts LLC grew its stake in Barrick Gold by 198.1% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,407 shares of the gold and copper producer's stock valued at $28,000 after acquiring an additional 935 shares in the last quarter. Eastern Bank acquired a new position in Barrick Gold during the third quarter worth $32,000. JFS Wealth Advisors LLC grew its holdings in Barrick Gold by 451.7% in the 3rd quarter. JFS Wealth Advisors LLC now owns 1,909 shares of the gold and copper producer's stock valued at $38,000 after buying an additional 1,563 shares in the last quarter. BNP Paribas increased its stake in shares of Barrick Gold by 221.7% in 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. Finally, Newbridge Financial Services Group Inc. purchased a new position in shares of Barrick Gold during the 4th quarter worth $65,000. Hedge funds and other institutional investors own 62.85% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on GOLD. Citigroup dropped their price objective on shares of Barrick Gold from $23.00 to $17.00 and set a "neutral" rating for the company in a report on Friday, December 20th. Raymond James cut their price target on shares of Barrick Gold from $25.00 to $24.00 and set an "outperform" rating for the company in a report on Friday, February 7th. Scotiabank upped their price objective on Barrick Gold from $19.00 to $20.00 and gave the company a "sector perform" rating in a report on Tuesday. Berenberg Bank increased their price objective on Barrick Gold from $37.00 to $38.00 in a research report on Tuesday, November 26th. Finally, Bank of America downgraded Barrick Gold from a "buy" rating to a "neutral" rating and reduced their target price for the company from $21.00 to $18.00 in a research report on Monday, January 27th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $23.75.

Barrick Gold Trading Down 2.7 %

Barrick Gold stock traded down $0.52 during midday trading on Friday, reaching $18.31. 29,771,600 shares of the stock traded hands, compared to its average volume of 22,819,328. 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 firm has a market cap of $31.61 billion, a PE ratio of 14.88, a price-to-earnings-growth ratio of 0.44 and a beta of 0.55. The company has a 50-day simple moving average of $16.35 and a two-hundred day simple moving average of $18.18. Barrick Gold Corp has a 12-month low of $14.27 and a 12-month high of $21.35.

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

Barrick Gold Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend is Friday, February 28th. Barrick Gold's dividend payout ratio is currently 32.52%.

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

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.