Jennison Associates LLC Sells 133,660 Shares of Barrick Gold Corp (NYSE:GOLD)

Jennison Associates LLC reduced its holdings in Barrick Gold Corp (NYSE:GOLDFree Report) (TSE:ABX) by 7.4% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,677,708 shares of the gold and copper producer’s stock after selling 133,660 shares during the quarter. Jennison Associates LLC owned 0.10% of Barrick Gold worth $27,917,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in GOLD. Wellington Management Group LLP increased its stake in Barrick Gold by 58.4% in the 4th quarter. Wellington Management Group LLP now owns 100,680,644 shares of the gold and copper producer’s stock worth $1,821,963,000 after acquiring an additional 37,128,653 shares during the last quarter. Van ECK Associates Corp increased its stake in Barrick Gold by 9.7% in the 4th quarter. Van ECK Associates Corp now owns 80,933,517 shares of the gold and copper producer’s stock worth $1,464,070,000 after acquiring an additional 7,150,142 shares during the last quarter. Capital World Investors boosted its holdings in shares of Barrick Gold by 16.4% in the 4th quarter. Capital World Investors now owns 45,479,229 shares of the gold and copper producer’s stock worth $821,790,000 after purchasing an additional 6,417,244 shares in the last quarter. Ruffer LLP boosted its holdings in shares of Barrick Gold by 198.3% in the 4th quarter. Ruffer LLP now owns 9,606,218 shares of the gold and copper producer’s stock worth $173,727,000 after purchasing an additional 6,385,566 shares in the last quarter. Finally, TD Asset Management Inc boosted its holdings in shares of Barrick Gold by 28.3% in the 4th quarter. TD Asset Management Inc now owns 17,713,269 shares of the gold and copper producer’s stock worth $321,595,000 after purchasing an additional 3,910,872 shares in the last quarter. 62.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on GOLD shares. National Bank Financial reiterated a “sector perform overweight” rating on shares of Barrick Gold in a report on Monday, April 8th. BMO Capital Markets cut their price objective on Barrick Gold from $27.00 to $26.00 and set an “outperform” rating for the company in a report on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Barrick Gold currently has an average rating of “Moderate Buy” and an average price target of $21.60.

Get Our Latest Report on Barrick Gold

Barrick Gold Trading Up 0.3 %

GOLD opened at $17.44 on Wednesday. Barrick Gold Corp has a 12 month low of $13.76 and a 12 month high of $18.95. The stock has a 50-day moving average of $16.89 and a 200 day moving average of $16.45. The firm has a market cap of $30.62 billion, a P/E ratio of 21.27, a P/E/G ratio of 0.49 and a beta of 0.51. The company has a current ratio of 3.32, a quick ratio of 2.49 and a debt-to-equity ratio of 0.15.

Barrick Gold (NYSE:GOLDGet Free Report) (TSE:ABX) last announced its earnings results on Wednesday, May 1st. The gold and copper producer reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.04. Barrick Gold had a return on equity of 4.88% and a net margin of 12.58%. The business had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.74 billion. During the same quarter in the previous year, the business earned $0.14 earnings per share. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. As a group, research analysts forecast that Barrick Gold Corp will post 1.08 EPS for the current year.

Barrick Gold Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Friday, May 31st were issued a $0.10 dividend. This is a positive change from Barrick Gold’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.29%. Barrick Gold’s payout ratio is presently 48.78%.

Barrick Gold Company Profile

(Free Report)

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.

Further Reading

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

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