Barrick Gold Corp (NYSE:GOLD) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Posted by on Apr 13th, 2023

Sumitomo Mitsui Trust Holdings Inc. decreased its holdings in shares of Barrick Gold Corp (NYSE:GOLD – Get Rating) (TSE:ABX) by 0.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,531,439 shares of the gold and copper producer’s stock after selling 32,553 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.32% of Barrick Gold worth $94,893,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GOLD. National Bank of Canada FI lifted its stake in shares of Barrick Gold by 1,513.6% in the 4th quarter. National Bank of Canada FI now owns 16,100,792 shares of the gold and copper producer’s stock worth $276,056,000 after acquiring an additional 15,102,968 shares during the period. Snider Financial Group bought a new stake in shares of Barrick Gold during the 1st quarter worth $185,000. Wellington Management Group LLP increased its position in shares of Barrick Gold by 40.8% during the first quarter. Wellington Management Group LLP now owns 17,824,320 shares of the gold and copper producer’s stock valued at $437,387,000 after purchasing an additional 5,164,698 shares during the period. Canada Pension Plan Investment Board lifted its stake in Barrick Gold by 121.0% during the third quarter. Canada Pension Plan Investment Board now owns 6,498,600 shares of the gold and copper producer’s stock worth $101,259,000 after purchasing an additional 3,558,200 shares during the period. Finally, Verde Servicos Internacionais S.A. acquired a new stake in shares of Barrick Gold in the 4th quarter valued at $47,997,000. Hedge funds and other institutional investors own 56.82% of the company’s stock.

Barrick Gold Trading Up 1.1 %

NYSE GOLD opened at $19.63 on Thursday. The business has a 50 day simple moving average of $17.68 and a 200 day simple moving average of $17.02. Barrick Gold Corp has a one year low of $13.01 and a one year high of $25.99. The stock has a market capitalization of $34.46 billion, a P/E ratio of 81.79, a P/E/G ratio of 8.94 and a beta of 0.33. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.71 and a quick ratio of 2.14.

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

Barrick Gold Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 15th. Investors of record on Tuesday, February 28th were paid a $0.10 dividend. The ex-dividend date of this dividend was Monday, February 27th. This represents a $0.40 dividend on an annualized basis and a yield of 2.04%. Barrick Gold’s dividend payout ratio is presently 166.67%.

Analyst Ratings Changes

A number of research firms recently issued reports on GOLD. Barclays lifted their price target on Barrick Gold from $23.00 to $26.00 and gave the company an “overweight” rating in a report on Monday, January 30th. BNP Paribas cut shares of Barrick Gold from an “outperform” rating to a “neutral” rating and set a $19.00 price target for the company. in a research note on Monday, February 13th. Fundamental Research set a $19.02 target price on shares of Barrick Gold and gave the stock a “buy” rating in a research note on Tuesday, March 7th. National Bank Financial lowered their price target on shares of Barrick Gold from C$29.00 to C$28.00 in a research report on Thursday, February 23rd. Finally, Raymond James decreased their target price on shares of Barrick Gold from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Thursday, February 16th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Barrick Gold currently has an average rating of “Moderate Buy” and a consensus target price of $23.60.

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.

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Institutional Ownership by Quarter for Barrick Gold (NYSE:GOLD)

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