Barrick Gold Corp (NYSE:GOLD) Shares Sold by Bank of New York Mellon Corp

Posted by Defense World Staff on Mar 10th, 2023

Bank of New York Mellon Corp lessened its position in shares of Barrick Gold Corp (NYSE:GOLD – Get Rating) (TSE:ABX) by 33.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,683,087 shares of the gold and copper producer’s stock after selling 1,868,081 shares during the period. Bank of New York Mellon Corp owned about 0.21% of Barrick Gold worth $57,089,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of GOLD. Hexagon Capital Partners LLC lifted its holdings in Barrick Gold by 355.1% during the 3rd quarter. Hexagon Capital Partners LLC now owns 1,661 shares of the gold and copper producer’s stock worth $26,000 after buying an additional 1,296 shares during the last quarter. CoreCap Advisors LLC bought a new stake in shares of Barrick Gold in the 2nd quarter worth approximately $29,000. Optiver Holding B.V. lifted its holdings in shares of Barrick Gold by 65.9% in the 2nd quarter. Optiver Holding B.V. now owns 1,669 shares of the gold and copper producer’s stock worth $30,000 after purchasing an additional 663 shares during the last quarter. Chilton Capital Management LLC bought a new stake in shares of Barrick Gold in the 2nd quarter worth approximately $35,000. Finally, Grayhawk Investment Strategies Inc. bought a new stake in shares of Barrick Gold in the 2nd quarter worth approximately $39,000. Institutional investors own 56.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. National Bank Financial cut their price target on Barrick Gold from C$29.00 to C$28.00 in a report on Thursday, February 23rd. Royal Bank of Canada cut their target price on Barrick Gold from $27.00 to $20.00 and set an “outperform” rating on the stock in a research note on Monday, November 21st. BNP Paribas downgraded Barrick Gold from an “outperform” rating to a “neutral” rating and set a $19.00 target price on the stock. in a research note on Monday, February 13th. Barclays lifted their price target on Barrick Gold from $23.00 to $26.00 and gave the company an “overweight” rating in a research report on Monday, January 30th. Finally, Fundamental Research set a $19.02 target price on Barrick Gold and gave the stock a “buy” rating in a report on Tuesday. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $23.60.

Barrick Gold Stock Performance

Shares of Barrick Gold stock opened at $15.57 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.14 and a current ratio of 2.71. Barrick Gold Corp has a 52 week low of $13.01 and a 52 week high of $25.99. The firm has a fifty day moving average of $17.96 and a two-hundred day moving average of $16.50. The stock has a market capitalization of $27.33 billion, a price-to-earnings ratio of 64.88, a PEG ratio of 8.86 and a beta of 0.30.

Barrick Gold (NYSE:GOLD – Get Rating) (TSE:ABX) last released its earnings results on Wednesday, February 15th. The gold and copper producer reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.01. Barrick Gold had a return on equity of 4.12% and a net margin of 3.92%. The firm had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.79 billion. During the same quarter in the prior year, the company earned $0.35 EPS. The company’s revenue was down 16.2% on a year-over-year basis. As a group, equities research analysts predict that Barrick Gold Corp will post 0.89 EPS for the current year.

Barrick Gold Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Tuesday, February 28th will be given a dividend of $0.10 per share. The ex-dividend date is Monday, February 27th. This represents a $0.40 annualized dividend and a yield of 2.57%. Barrick Gold’s dividend payout ratio (DPR) is presently 166.67%.

Barrick Gold Company Profile

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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.