629,500 Shares in Barrick Gold Corp (NYSE:GOLD) Bought by Madison Investment Advisors LLC

Madison Investment Advisors LLC acquired a new stake in Barrick Gold Corp (NYSE:GOLD - Free Report) TSE: ABX during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 629,500 shares of the gold and copper producer's stock, valued at approximately $9,757,000.

Several other large investors also recently modified their holdings of GOLD. Principal Financial Group Inc. boosted its stake in shares of Barrick Gold by 19.9% during the third quarter. Principal Financial Group Inc. now owns 483,613 shares of the gold and copper producer's stock valued at $9,630,000 after purchasing an additional 80,366 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Barrick Gold by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,073,717 shares of the gold and copper producer's stock worth $78,637,000 after buying an additional 128,203 shares during the period. Crocodile Capital Partners GmbH boosted its position in Barrick Gold by 97.3% during the 4th quarter. Crocodile Capital Partners GmbH now owns 1,460,000 shares of the gold and copper producer's stock worth $22,630,000 after buying an additional 720,000 shares during the period. Chiron Investment Management LLC grew its holdings in Barrick Gold by 36.5% during the 3rd quarter. Chiron Investment Management LLC now owns 604,199 shares of the gold and copper producer's stock worth $12,018,000 after acquiring an additional 161,688 shares during the last quarter. Finally, Legend Financial Advisors Inc. bought a new position in shares of Barrick Gold during the fourth quarter valued at $700,000. 62.85% of the stock is owned by institutional investors.

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Barrick Gold Price Performance

Shares of GOLD traded down $0.04 during mid-day trading on Wednesday, hitting $19.32. 14,772,444 shares of the stock were exchanged, compared to its average volume of 21,549,339. The company has a market cap of $33.33 billion, a PE ratio of 15.70, a price-to-earnings-growth ratio of 0.44 and a beta of 0.58. The firm has a 50-day moving average of $17.64 and a two-hundred day moving average of $18.03. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.15 and a current ratio of 2.89. Barrick Gold Corp has a 52-week low of $0.25 and a 52-week high of $21.35.

Barrick Gold (NYSE:GOLD - Get Free Report) TSE: ABX last issued its quarterly earnings results on Wednesday, February 12th. The gold and copper producer reported $0.46 earnings per share for the quarter, hitting the consensus estimate of $0.46. Barrick Gold had a return on equity of 6.76% and a net margin of 16.59%. On average, equities analysts predict that Barrick Gold Corp will post 1.47 earnings per share for the current year.

Barrick Gold declared that its board has initiated a stock repurchase plan on Wednesday, February 12th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the gold and copper producer to purchase up to 3.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.

Barrick Gold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.40 dividend on an annualized basis and a yield of 2.07%. Barrick Gold's payout ratio is 32.52%.

Analyst Upgrades and Downgrades

GOLD has been the subject of several analyst reports. UBS Group upgraded shares of Barrick Gold from a "neutral" rating to a "buy" rating and set a $22.00 price target for the company in a report on Wednesday, March 5th. Stifel Canada upgraded shares of Barrick Gold to a "strong-buy" rating in a report on Wednesday, March 19th. Bank of America downgraded Barrick Gold from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $21.00 to $18.00 in a report on Monday, January 27th. Scotiabank boosted their price objective on Barrick Gold from $19.00 to $20.00 and gave the company a "sector perform" rating in a research note on Tuesday, February 18th. Finally, National Bank Financial raised Barrick Gold to a "hold" rating in a research note on Friday, March 21st. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $23.75.

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.