Bcwm LLC acquired a new stake in Barrick Gold Corp (NYSE:GOLD - Free Report) TSE: ABX during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 62,537 shares of the gold and copper producer's stock, valued at approximately $969,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Cerity Partners LLC boosted its holdings in Barrick Gold by 120.3% during the 3rd quarter. Cerity Partners LLC now owns 93,622 shares of the gold and copper producer's stock worth $1,862,000 after acquiring an additional 51,117 shares during the last quarter. Daiwa Securities Group Inc. bought a new position in shares of Barrick Gold during the third quarter valued at about $477,000. D.A. Davidson & CO. boosted its holdings in Barrick Gold by 14.5% during the third quarter. D.A. Davidson & CO. now owns 74,903 shares of the gold and copper producer's stock worth $1,490,000 after purchasing an additional 9,511 shares during the last quarter. Glenmede Trust Co. NA grew its position in Barrick Gold by 16.3% in the 3rd quarter. Glenmede Trust Co. NA now owns 18,793 shares of the gold and copper producer's stock worth $374,000 after purchasing an additional 2,638 shares in the last quarter. Finally, FORA Capital LLC purchased a new stake in Barrick Gold in the 3rd quarter valued at about $287,000. Institutional investors and hedge funds own 62.85% of the company's stock.
Barrick Gold Trading Down 1.5 %
Shares of Barrick Gold stock traded down $0.30 during trading on Wednesday, reaching $19.36. The company's stock had a trading volume of 11,487,329 shares, compared to its average volume of 21,792,667. The company has a quick ratio of 2.15, a current ratio of 2.89 and a debt-to-equity ratio of 0.14. The company has a market cap of $33.41 billion, a price-to-earnings ratio of 15.74, a PEG ratio of 0.44 and a beta of 0.58. The firm's 50-day moving average is $17.99 and its two-hundred day moving average is $18.01. Barrick Gold Corp has a 52-week low of $15.11 and a 52-week high of $21.35.
Barrick Gold (NYSE:GOLD - Get Free Report) TSE: ABX last issued its earnings results on Wednesday, February 12th. The gold and copper producer reported $0.46 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.46. Barrick Gold had a net margin of 16.59% and a return on equity of 6.76%. On average, sell-side analysts anticipate that Barrick Gold Corp will post 1.47 earnings per share for the current year.
Barrick Gold Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were issued a dividend of $0.10 per share. The ex-dividend date was Friday, February 28th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.07%. Barrick Gold's dividend payout ratio is currently 32.52%.
Barrick Gold announced that its board has authorized a stock repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the gold and copper producer to buy up to 3.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its stock is undervalued.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on the company. TD Securities reduced their price objective on Barrick Gold from $24.00 to $23.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Bank of America downgraded shares of Barrick Gold from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $21.00 to $18.00 in a report on Monday, January 27th. Raymond James raised their price objective on shares of Barrick Gold from $23.00 to $23.50 and gave the stock an "outperform" rating in a report on Monday. UBS Group raised Barrick Gold from a "neutral" rating to a "buy" rating and set a $22.00 target price for the company in a report on Wednesday, March 5th. Finally, Citigroup reduced their price target on shares of Barrick Gold from $21.00 to $17.00 and set a "neutral" rating for the company in a research report on Monday. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Barrick Gold has an average rating of "Moderate Buy" and an average target price of $23.71.
View Our Latest Stock Report on GOLD
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.
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