Flossbach Von Storch AG Has $13.24 Million Stock Holdings in Barrick Gold Corp (NYSE:GOLD)

Flossbach Von Storch AG reduced its stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 97.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 732,106 shares of the gold and copper producer’s stock after selling 33,657,909 shares during the quarter. Flossbach Von Storch AG’s holdings in Barrick Gold were worth $13,244,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Addenda Capital Inc. increased its holdings in Barrick Gold by 88.1% in the fourth quarter. Addenda Capital Inc. now owns 3,105,335 shares of the gold and copper producer’s stock worth $56,176,000 after purchasing an additional 1,454,220 shares in the last quarter. Cheyne Capital Management UK LLP purchased a new position in Barrick Gold in the third quarter worth $2,910,000. Klein Pavlis & Peasley Financial Inc. purchased a new position in Barrick Gold in the fourth quarter worth $1,331,000. DAVENPORT & Co LLC boosted its position in Barrick Gold by 17.9% in the fourth quarter. DAVENPORT & Co LLC now owns 73,627 shares of the gold and copper producer’s stock worth $1,332,000 after purchasing an additional 11,166 shares during the last quarter. Finally, Gateway Investment Advisers LLC boosted its position in Barrick Gold by 204.2% in the fourth quarter. Gateway Investment Advisers LLC now owns 249,017 shares of the gold and copper producer’s stock worth $4,505,000 after purchasing an additional 167,145 shares during the last quarter. 62.85% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. National Bank Financial reissued a “sector perform overweight” rating on shares of Barrick Gold in a research report on Monday, April 8th. Raymond James cut their price objective on Barrick Gold from $24.00 to $23.00 and set an “outperform” rating on the stock in a research report on Thursday, February 15th. CIBC cut their price objective on Barrick Gold from $27.00 to $23.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 7th. TD Securities dropped their price target on Barrick Gold from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Friday, February 16th. Finally, Argus reaffirmed a “hold” rating on shares of Barrick Gold in a research report on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $22.05.

Barrick Gold Price Performance

GOLD traded up $0.22 during trading on Wednesday, reaching $16.70. 24,784,212 shares of the company were exchanged, compared to its average volume of 22,735,023. The company’s 50-day moving average is $15.82 and its two-hundred day moving average is $16.20. The company has a market cap of $29.32 billion, a price-to-earnings ratio of 23.19, a P/E/G ratio of 1.58 and a beta of 0.58. The company has a quick ratio of 2.40, a current ratio of 3.16 and a debt-to-equity ratio of 0.15. Barrick Gold Corp has a 12-month low of $13.76 and a 12-month high of $20.75.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its quarterly earnings data on Wednesday, February 14th. The gold and copper producer reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.06. The business had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.13 billion. Barrick Gold had a return on equity of 4.64% and a net margin of 11.16%. During the same quarter in the prior year, the firm posted $0.13 EPS. Research analysts forecast that Barrick Gold Corp will post 0.91 earnings per share for the current fiscal year.

Barrick Gold Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were paid a $0.074 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $0.30 dividend on an annualized basis and a yield of 1.77%. Barrick Gold’s dividend payout ratio is currently 55.56%.

Barrick Gold 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.