Regal Partners Ltd Cuts Holdings in Barrick Gold Corp (NYSE:GOLD)

Regal Partners Ltd cut its holdings in Barrick Gold Corp (NYSE:GOLD - Free Report) TSE: ABX by 12.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,345,561 shares of the gold and copper producer's stock after selling 188,664 shares during the quarter. Barrick Gold accounts for approximately 2.4% of Regal Partners Ltd's holdings, making the stock its 12th largest position. Regal Partners Ltd owned approximately 0.08% of Barrick Gold worth $26,763,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GOLD. Clean Yield Group bought a new position in shares of Barrick Gold during the 1st quarter valued at $25,000. Exchange Traded Concepts LLC grew its position in shares of Barrick Gold by 198.1% during the third quarter. Exchange Traded Concepts LLC now owns 1,407 shares of the gold and copper producer's stock valued at $28,000 after purchasing an additional 935 shares in the last quarter. Crewe Advisors LLC grew its position in shares of Barrick Gold by 628.8% during the second quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer's stock valued at $30,000 after purchasing an additional 1,572 shares in the last quarter. Jackson Grant Investment Advisers Inc. purchased a new position in shares of Barrick Gold during the second quarter valued at about $32,000. Finally, Eastern Bank purchased a new position in shares of Barrick Gold during the third quarter valued at about $32,000. 62.85% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on GOLD shares. Jefferies Financial Group increased their price target on shares of Barrick Gold from $23.00 to $24.00 and gave the company a "buy" rating in a report on Friday, September 13th. UBS Group downgraded shares of Barrick Gold from a "buy" rating to a "neutral" rating and lowered their price target for the company from $23.00 to $22.00 in a report on Wednesday, October 30th. Scotiabank decreased their price objective on shares of Barrick Gold from $25.00 to $24.00 and set a "sector outperform" rating for the company in a research note on Friday, November 8th. Argus raised shares of Barrick Gold from a "hold" rating to a "buy" rating and set a $24.00 price objective for the company in a research note on Thursday, August 29th. Finally, TD Securities decreased their price objective on shares of Barrick Gold from $27.00 to $26.00 and set a "buy" rating for the company in a research note on Friday, November 8th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $23.90.

Barrick Gold Trading Up 0.4 %

Shares of Barrick Gold stock traded up $0.06 on Thursday, hitting $16.85. 31,512,092 shares of the company traded hands, compared to its average volume of 21,432,018. The stock's 50 day moving average price is $19.79 and its 200-day moving average price is $18.48. The company has a current ratio of 2.65, a quick ratio of 2.06 and a debt-to-equity ratio of 0.14. Barrick Gold Corp has a 52 week low of $13.76 and a 52 week high of $21.35. The company has a market cap of $29.45 billion, a PE ratio of 18.24, a PEG ratio of 0.40 and a beta of 0.56.

Barrick Gold (NYSE:GOLD - Get Free Report) TSE: ABX last posted its quarterly earnings results on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.05. Barrick Gold had a net margin of 13.19% and a return on equity of 5.82%. The firm had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the previous year, the firm posted $0.19 earnings per share. The company's revenue was up 11.6% on a year-over-year basis. Equities research analysts predict that Barrick Gold Corp will post 1.29 EPS for the current year.

Barrick Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend is Friday, November 29th. Barrick Gold's payout ratio is 43.01%.

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.