Allianz SE Makes New Investment in Barrick Gold Corp (NYSE:GOLD)

Allianz SE acquired a new position in Barrick Gold Corp (NYSE:GOLD - Free Report) TSE: ABX in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 2,176,280 shares of the gold and copper producer's stock, valued at approximately $33,726,000. Barrick Gold accounts for 0.9% of Allianz SE's holdings, making the stock its 22nd biggest position. Allianz SE owned approximately 0.13% of Barrick Gold at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in GOLD. Chelsea Counsel Co. grew its stake in Barrick Gold by 1.4% in the third quarter. Chelsea Counsel Co. now owns 42,973 shares of the gold and copper producer's stock worth $855,000 after purchasing an additional 590 shares during the period. VisionPoint Advisory Group LLC increased its stake in shares of Barrick Gold by 6.7% during the fourth quarter. VisionPoint Advisory Group LLC now owns 14,051 shares of the gold and copper producer's stock valued at $224,000 after purchasing an additional 880 shares in the last quarter. Bangor Savings Bank lifted its holdings in shares of Barrick Gold by 4.5% during the fourth quarter. Bangor Savings Bank now owns 22,025 shares of the gold and copper producer's stock valued at $341,000 after purchasing an additional 956 shares during the last quarter. Confluence Investment Management LLC boosted its position in shares of Barrick Gold by 3.4% in the 4th quarter. Confluence Investment Management LLC now owns 29,751 shares of the gold and copper producer's stock worth $461,000 after purchasing an additional 974 shares in the last quarter. Finally, Mesirow Financial Investment Management Inc. grew its stake in shares of Barrick Gold by 3.5% in the 4th quarter. Mesirow Financial Investment Management Inc. now owns 30,510 shares of the gold and copper producer's stock worth $473,000 after buying an additional 1,035 shares during the last quarter. 62.85% of the stock is currently owned by institutional investors.

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Barrick Gold Price Performance

Shares of GOLD stock traded up $0.23 on Tuesday, hitting $19.67. 24,784,748 shares of the stock traded hands, compared to its average volume of 21,859,584. The firm has a 50 day simple moving average of $17.92 and a two-hundred day simple moving average of $18.02. Barrick Gold Corp has a 52 week low of $15.11 and a 52 week high of $21.35. The firm has a market cap of $33.95 billion, a price-to-earnings ratio of 16.00, a PEG ratio of 0.44 and a beta of 0.58. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.89 and a quick ratio of 2.15.

Barrick Gold (NYSE:GOLD - Get Free Report) TSE: ABX last released its earnings results on Wednesday, February 12th. The gold and copper producer reported $0.46 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%. As a group, equities research analysts predict that Barrick Gold Corp will post 1.47 earnings per share for the current fiscal year.

Barrick Gold announced that its board has initiated a share buyback plan on Wednesday, February 12th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the gold and copper producer to reacquire up to 3.2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's leadership 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 $0.10 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.03%. Barrick Gold's dividend payout ratio is currently 32.52%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on GOLD shares. Citigroup cut their price objective on shares of Barrick Gold from $21.00 to $17.00 and set a "neutral" rating on the stock in a research report on Monday. Raymond James boosted their target price on shares of Barrick Gold from $23.00 to $23.50 and gave the company an "outperform" rating in a research note on Monday. National Bank Financial raised Barrick Gold to a "hold" rating in a report on Friday, March 21st. Stifel Canada raised Barrick Gold to a "strong-buy" rating in a report on Wednesday, March 19th. Finally, TD Securities lowered their target price on Barrick Gold from $24.00 to $23.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Barrick Gold presently has an average rating of "Moderate Buy" and a consensus price target of $23.71.

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.