Unusual Put Option Trade in Barrick Gold Worth $209.04K

On May 1, 2023 at 10:36:37 ET an unusually large $209.04K block of Put contracts in Barrick Gold (GOLD) was sold, with a strike price of $17.00 / share, expiring in 627 day(s) (on January 17, 2025). Fintel tracks all large options trades, and the premium spent on this trade was 2.86 sigmas above the mean, placing it in the 99.86th percentile of all recent large trades made in GOLD options.

This trade was first picked up on Fintel’s real time Options Flow tool, where unusual option trades are highlighted.

What is the Fund Sentiment?

There are 1084 funds or institutions reporting positions in Barrick Gold. This is an increase of 9 owner(s) or 0.84% in the last quarter. Average portfolio weight of all funds dedicated to GOLD is 0.59%, an increase of 12.75%. Total shares owned by institutions decreased in the last three months by 0.92% to 1,233,489K shares. The put/call ratio of GOLD is 0.56, indicating a bullish outlook.

Analyst Price Forecast Suggests 20.93% Upside

As of April 24, 2023, the average one-year price target for Barrick Gold is $23.02. The forecasts range from a low of $17.17 to a high of $29.40. The average price target represents an increase of 20.93% from its latest reported closing price of $19.04.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Barrick Gold is $11,566MM. The projected annual non-GAAP EPS is $0.78.

What are Other Shareholders Doing?

Susquehanna International Group, Llp holds 7,927K shares representing 0.45% ownership of the company. In it’s prior filing, the firm reported owning 10,761K shares, representing a decrease of 35.74%. The firm decreased its portfolio allocation in GOLD by 20.11% over the last quarter.

SGGDX – First Eagle Gold Fund holds 9,081K shares representing 0.52% ownership of the company. No change in the last quarter.

Verition Fund Management holds 286K shares representing 0.02% ownership of the company. In it’s prior filing, the firm reported owning 80K shares, representing an increase of 72.18%. The firm increased its portfolio allocation in GOLD by 572.48% over the last quarter.

Meridian Wealth Management holds 93K shares representing 0.01% ownership of the company. In it’s prior filing, the firm reported owning 93K shares, representing an increase of 0.13%. The firm increased its portfolio allocation in GOLD by 1.00% over the last quarter.

Bridgefront Capital holds 10K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.

Barrick Gold Declares $0.10 Dividend

On February 15, 2023 the company declared a regular quarterly dividend of $0.10 per share ($0.40 annualized). Shareholders of record as of February 28, 2023 received the payment on March 15, 2023. Previously, the company paid $0.05 per share.

At the current share price of $19.04 / share, the stock’s dividend yield is 2.10%. Looking back five years and taking a sample every week, the average dividend yield has been 2.30%, the lowest has been 1.35%, and the highest has been 4.10%. The standard deviation of yields is 0.60 (n=237).

The current dividend yield is 0.34 standard deviations below the historical average.

Additionally, the company’s dividend payout ratio is 1.63. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company has not increased its dividend in the last three years.

Barrick Gold Background Information
(This description is provided by the company.)

Barrick Gold Corporation is a mining company that produces gold and copper with 16 operating sites in 13 countries. Barrick has mining operations in Argentina, Australia, Canada, Chile, Dominican Republic, Papua New Guinea, Peru, Saudi Arabia, the United States, and Zambia. The company was founded in 1983, and is headquartered in Toronto.

See all Barrick Gold regulatory filings.

This article originally appeared on Fintel

Sponsored: Find a Qualified Financial Advisor

Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.