Holowesko Partners Ltd. raised its stake in Barrick Gold Corp (NYSE:GOLD - Free Report) TSE: ABX by 121.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,319,200 shares of the gold and copper producer's stock after purchasing an additional 723,200 shares during the quarter. Barrick Gold comprises about 9.4% of Holowesko Partners Ltd.'s investment portfolio, making the stock its 3rd biggest position. Holowesko Partners Ltd. owned 0.08% of Barrick Gold worth $20,448,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently modified their holdings of GOLD. Bcwm LLC purchased a new stake in shares of Barrick Gold during the fourth quarter valued at approximately $969,000. CIBC Private Wealth Group LLC grew its holdings in Barrick Gold by 6.9% during the 4th quarter. CIBC Private Wealth Group LLC now owns 18,984 shares of the gold and copper producer's stock valued at $301,000 after purchasing an additional 1,220 shares in the last quarter. Oaktree Fund Advisors LLC purchased a new stake in Barrick Gold during the 4th quarter worth $1,055,000. Oaktree Capital Management LP acquired a new position in Barrick Gold in the 4th quarter worth $15,733,000. Finally, Allianz SE purchased a new position in Barrick Gold in the 4th quarter valued at about $33,726,000. Institutional investors and hedge funds own 62.85% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on GOLD. Citigroup dropped their target price on Barrick Gold from $21.00 to $17.00 and set a "neutral" rating on the stock in a research report on Monday. Raymond James lifted their price objective on Barrick Gold from $23.00 to $23.50 and gave the stock an "outperform" rating in a report on Monday. Stifel Canada upgraded Barrick Gold to a "strong-buy" rating in a research note on Wednesday, March 19th. Scotiabank lifted their price target on shares of Barrick Gold from $19.00 to $20.00 and gave the stock a "sector perform" rating in a research note on Tuesday, February 18th. Finally, TD Securities lowered their price objective on Barrick Gold from $24.00 to $23.00 and set a "buy" rating for the company in a report on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Barrick Gold has a consensus rating of "Moderate Buy" and an average price target of $23.71.
Read Our Latest Analysis on Barrick Gold
Barrick Gold Stock Performance
GOLD traded down $0.37 during trading hours on Wednesday, hitting $19.29. The company's stock had a trading volume of 12,438,907 shares, compared to its average volume of 22,920,201. The firm has a market capitalization of $33.29 billion, a PE ratio of 15.68, a PEG ratio of 0.44 and a beta of 0.58. The company has a current ratio of 2.89, a quick ratio of 2.15 and a debt-to-equity ratio of 0.14. Barrick Gold Corp has a fifty-two week low of $15.11 and a fifty-two week high of $21.35. The company has a 50-day simple moving average of $17.99 and a 200 day simple moving average of $18.01.
Barrick Gold (NYSE:GOLD - Get Free Report) TSE: ABX last announced its earnings results on Wednesday, February 12th. The gold and copper producer reported $0.46 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.46. Barrick Gold had a net margin of 16.59% and a return on equity of 6.76%. As a group, sell-side analysts expect that Barrick Gold Corp will post 1.47 EPS for the current year.
Barrick Gold declared that its Board of Directors has initiated a share repurchase plan on Wednesday, February 12th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the gold and copper producer to purchase up to 3.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board believes its stock is undervalued.
Barrick Gold Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.40 annualized dividend and a yield of 2.07%. Barrick Gold's payout ratio is 32.52%.
About Barrick Gold
(
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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