Old West Investment Management LLC Sells 504,149 Shares of Barrick Gold Corp (NYSE:GOLD)

Old West Investment Management LLC lessened its holdings in Barrick Gold Corp (NYSE:GOLD - Free Report) TSE: ABX by 77.1% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 149,500 shares of the gold and copper producer's stock after selling 504,149 shares during the period. Old West Investment Management LLC's holdings in Barrick Gold were worth $2,317,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of GOLD. Chelsea Counsel Co. lifted its stake in Barrick Gold by 1.4% during the third quarter. Chelsea Counsel Co. now owns 42,973 shares of the gold and copper producer's stock worth $855,000 after purchasing an additional 590 shares during the last quarter. VisionPoint Advisory Group LLC lifted its holdings in shares of Barrick Gold by 6.7% during the fourth quarter. VisionPoint Advisory Group LLC now owns 14,051 shares of the gold and copper producer's stock valued at $224,000 after purchasing an additional 880 shares during the last quarter. Bangor Savings Bank grew its position in Barrick Gold by 4.5% during the 4th quarter. Bangor Savings Bank now owns 22,025 shares of the gold and copper producer's stock valued at $341,000 after purchasing an additional 956 shares during the last quarter. Confluence Investment Management LLC lifted its stake in shares of Barrick Gold by 3.4% in the fourth quarter. Confluence Investment Management LLC now owns 29,751 shares of the gold and copper producer's stock worth $461,000 after buying an additional 974 shares in the last quarter. Finally, Mesirow Financial Investment Management Inc. raised its holdings in Barrick Gold by 3.5% in the 4th quarter. Mesirow Financial Investment Management Inc. now owns 30,510 shares of the gold and copper producer's stock worth $473,000 after acquiring an additional 1,035 shares during the last quarter. 62.85% of the stock is owned by hedge funds and other institutional investors.

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Barrick Gold Price Performance

Shares of GOLD traded up $0.62 during trading hours on Thursday, reaching $19.42. 20,477,214 shares of the stock traded hands, compared to its average volume of 21,863,328. The company has a market cap of $33.52 billion, a P/E ratio of 15.75, a price-to-earnings-growth ratio of 0.44 and a beta of 0.55. 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 company's 50-day moving average price is $18.36 and its two-hundred day moving average price is $17.93. Barrick Gold Corp has a 52-week low of $15.11 and a 52-week high of $21.35.

Barrick Gold (NYSE:GOLD - Get Free Report) TSE: ABX last released its quarterly earnings data on Wednesday, February 12th. The gold and copper producer reported $0.46 earnings per share 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%. On average, analysts anticipate that Barrick Gold Corp will post 1.47 earnings per share for the current year.

Barrick Gold announced that its board has initiated a share buyback plan on Wednesday, February 12th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the gold and copper producer to reacquire up to 3.2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's leadership believes its shares are undervalued.

Barrick Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend was Friday, February 28th. Barrick Gold's dividend payout ratio is presently 32.52%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on GOLD shares. National Bank Financial upgraded Barrick Gold to a "hold" rating in a research note on Friday, March 21st. Royal Bank of Canada raised their price target on shares of Barrick Gold from $22.00 to $23.00 and gave the company an "outperform" rating in a report on Friday, April 4th. Raymond James increased their price objective on shares of Barrick Gold from $23.00 to $23.50 and gave the company an "outperform" rating in a research report on Monday, March 31st. Scotiabank lifted their target price 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. Finally, Stifel Canada raised Barrick Gold to a "strong-buy" rating in a report on Wednesday, March 19th. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Barrick Gold currently has an average rating of "Moderate Buy" and a consensus price target of $23.79.

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.