SouthState Corp Sells 88,257 Shares of Barrick Gold Corp (NYSE:GOLD)

SouthState Corp reduced its stake in Barrick Gold Corp (NYSE:GOLD - Free Report) TSE: ABX by 18.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 380,187 shares of the gold and copper producer's stock after selling 88,257 shares during the quarter. SouthState Corp's holdings in Barrick Gold were worth $5,893,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Principal Financial Group Inc. grew its holdings 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 purchasing an additional 80,366 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Barrick Gold by 4.6% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 149,305 shares of the gold and copper producer's stock worth $2,970,000 after buying an additional 6,499 shares during the period. OneDigital Investment Advisors LLC lifted its stake in shares of Barrick Gold by 31.4% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 17,830 shares of the gold and copper producer's stock valued at $355,000 after acquiring an additional 4,258 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of Barrick Gold by 3.0% in the 3rd quarter. Empowered Funds LLC now owns 178,615 shares of the gold and copper producer's stock valued at $3,553,000 after acquiring an additional 5,166 shares during the last quarter. Finally, Natixis Advisors LLC boosted its holdings in Barrick Gold by 128.7% during the 3rd quarter. Natixis Advisors LLC now owns 174,304 shares of the gold and copper producer's stock valued at $3,467,000 after acquiring an additional 98,086 shares during the period. 62.85% of the stock is currently owned by institutional investors.

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Barrick Gold Stock Down 0.6 %

GOLD stock traded down $0.12 during midday trading on Thursday, hitting $19.28. The stock had a trading volume of 11,131,377 shares, compared to its average volume of 21,585,257. 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 firm has a market cap of $33.26 billion, a price-to-earnings ratio of 15.67, a price-to-earnings-growth ratio of 0.44 and a beta of 0.58. The business has a 50-day moving average of $17.37 and a two-hundred day moving average of $18.05. Barrick Gold Corp has a 52-week low of $0.25 and a 52-week 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 earnings per share (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%. As a group, equities research analysts forecast that Barrick Gold Corp will post 1.47 earnings per share for the current fiscal year.

Barrick Gold declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 12th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the gold and copper producer to reacquire up to 3.2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's management believes its shares are undervalued.

Barrick Gold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were given a $0.10 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.08%. Barrick Gold's dividend payout ratio is currently 32.52%.

Analyst Upgrades and Downgrades

GOLD has been the subject of several recent research reports. Stifel Canada upgraded Barrick Gold to a "strong-buy" rating in a research report on Wednesday. Bank of America lowered shares of Barrick Gold from a "buy" rating to a "neutral" rating and lowered their price target for the company from $21.00 to $18.00 in a report on Monday, January 27th. TD Securities cut their price target on shares of Barrick Gold from $24.00 to $23.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. Cibc World Mkts cut shares of Barrick Gold from a "strong-buy" rating to a "hold" rating in a research report on Monday, November 25th. Finally, Scotiabank increased their target price on shares of Barrick Gold from $19.00 to $20.00 and gave the stock a "sector perform" rating in a report on Tuesday, February 18th. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Barrick Gold currently has an average rating of "Moderate Buy" and a consensus price target of $23.75.

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.