Barrick Gold Corp (NYSE:GOLD) Shares Sold by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. trimmed its holdings in Barrick Gold Corp (NYSE:GOLD - Free Report) TSE: ABX by 71.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,035,495 shares of the gold and copper producer's stock after selling 2,624,314 shares during the period. Jupiter Asset Management Ltd. owned 0.06% of Barrick Gold worth $16,050,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Principal Financial Group Inc. grew its stake in shares of Barrick Gold by 19.9% during the 3rd quarter. Principal Financial Group Inc. now owns 483,613 shares of the gold and copper producer's stock valued at $9,630,000 after buying an additional 80,366 shares during the period. Mizuho Markets Americas LLC boosted its holdings in Barrick Gold by 21.7% in the third quarter. Mizuho Markets Americas LLC now owns 2,317,580 shares of the gold and copper producer's stock valued at $46,097,000 after acquiring an additional 413,012 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Barrick Gold by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,073,717 shares of the gold and copper producer's stock valued at $78,637,000 after acquiring an additional 128,203 shares during the period. Crocodile Capital Partners GmbH increased its stake in Barrick Gold by 97.3% during the fourth quarter. Crocodile Capital Partners GmbH now owns 1,460,000 shares of the gold and copper producer's stock worth $22,630,000 after acquiring an additional 720,000 shares during the last quarter. Finally, Chiron Investment Management LLC raised its holdings in shares of Barrick Gold by 36.5% in the 3rd quarter. Chiron Investment Management LLC now owns 604,199 shares of the gold and copper producer's stock worth $12,018,000 after purchasing an additional 161,688 shares during the period. Hedge funds and other institutional investors own 62.85% of the company's stock.

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Wall Street Analyst Weigh In

Several research firms have issued reports on GOLD. UBS Group upgraded shares of Barrick Gold from a "neutral" rating to a "buy" rating and set a $22.00 price objective for the company in a research note on Wednesday, March 5th. Berenberg Bank upped their price target on Barrick Gold from $37.00 to $38.00 in a report on Tuesday, November 26th. Raymond James lowered 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. CIBC lowered Barrick Gold from a "sector outperform" rating to a "neutral" rating in a research report on Monday, November 25th. Finally, Scotiabank increased their price target on shares of Barrick Gold from $19.00 to $20.00 and gave the stock a "sector perform" rating in a research report on Tuesday, February 18th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $23.75.

Barrick Gold Stock Performance

NYSE:GOLD traded up $0.39 during midday trading on Thursday, reaching $18.73. 30,290,211 shares of the company traded hands, compared to its average volume of 23,761,162. Barrick Gold Corp has a twelve month low of $15.11 and a twelve month high of $21.35. 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 company has a fifty day moving average price of $17.09 and a 200 day moving average price of $18.10. The firm has a market capitalization of $32.34 billion, a price-to-earnings ratio of 15.22, a price-to-earnings-growth ratio of 0.44 and a beta of 0.58.

Barrick Gold (NYSE:GOLD - Get Free Report) TSE: ABX last released 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 net margin of 16.59% and a return on equity of 6.76%. On average, analysts expect that Barrick Gold Corp will post 1.47 EPS for the current fiscal year.

Barrick Gold declared that its Board of Directors has initiated a stock buyback program on Wednesday, February 12th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the gold and copper producer to repurchase up to 3.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its stock is undervalued.

Barrick Gold Announces Dividend

The company also recently announced 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 annualized dividend and a yield of 2.14%. The ex-dividend date is Friday, February 28th. Barrick Gold's dividend payout ratio (DPR) is 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.