Allspring Global Investments Holdings LLC Has $16.04 Million Stock Position in Barrick Gold Corp (NYSE:GOLD)

Allspring Global Investments Holdings LLC grew its position in Barrick Gold Corp (NYSE:GOLD - Free Report) TSE: ABX by 15.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,012,319 shares of the gold and copper producer's stock after buying an additional 135,760 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.06% of Barrick Gold worth $16,036,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Exchange Traded Concepts LLC boosted its holdings in shares of Barrick Gold by 198.1% in the third quarter. Exchange Traded Concepts LLC now owns 1,407 shares of the gold and copper producer's stock worth $28,000 after buying an additional 935 shares during the period. Eastern Bank purchased a new stake in shares of Barrick Gold in the third quarter worth approximately $32,000. JFS Wealth Advisors LLC lifted its position in shares of Barrick Gold by 451.7% in the third quarter. JFS Wealth Advisors LLC now owns 1,909 shares of the gold and copper producer's stock worth $38,000 after purchasing an additional 1,563 shares in the last quarter. AlphaMark Advisors LLC purchased a new stake in shares of Barrick Gold in the third quarter worth approximately $60,000. Finally, BNP Paribas lifted its position in shares of Barrick Gold by 221.7% in the third quarter. BNP Paribas now owns 3,066 shares of the gold and copper producer's stock worth $62,000 after purchasing an additional 2,113 shares in the last quarter. 62.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on GOLD shares. Citigroup reduced their price target on shares of Barrick Gold from $23.00 to $17.00 and set a "neutral" rating for the company in a research report on Friday, December 20th. Cibc World Mkts lowered shares of Barrick Gold from a "strong-buy" rating to a "hold" rating in a research report on Monday, November 25th. CIBC lowered shares of Barrick Gold from a "sector outperform" rating to a "neutral" rating in a research report on Monday, November 25th. Bank of America lowered shares of Barrick Gold from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $21.00 to $18.00 in a research report on Monday, January 27th. Finally, UBS Group lowered shares of Barrick Gold from a "buy" rating to a "neutral" rating and cut their price objective for the company from $23.00 to $22.00 in a research report on Wednesday, October 30th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $23.75.

Barrick Gold Stock Performance

GOLD stock traded up $0.04 during midday trading on Thursday, hitting $18.82. 25,490,598 shares of the company traded hands, compared to its average volume of 22,599,492. Barrick Gold Corp has a twelve month low of $14.27 and a twelve month high of $21.35. 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 business has a 50 day simple moving average of $16.32 and a 200-day simple moving average of $18.17. The stock has a market capitalization of $32.50 billion, a price-to-earnings ratio of 15.30, a price-to-earnings-growth ratio of 0.43 and a beta of 0.55.

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

Barrick Gold Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.40 annualized dividend and a yield of 2.13%. Barrick Gold's dividend payout ratio (DPR) is presently 32.52%.

Barrick Gold declared that its Board of Directors has approved a stock repurchase plan on Wednesday, February 12th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the gold and copper producer to reacquire up to 3.2% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

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.