Fmr LLC Has $254.29 Million Stock Position in Barrick Gold Corp (NYSE:GOLD)

FMR LLC lowered its position in Barrick Gold Corp (NYSE:GOLD - Free Report) TSE: ABX by 55.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,401,420 shares of the gold and copper producer's stock after selling 20,008,495 shares during the period. FMR LLC owned approximately 0.95% of Barrick Gold worth $254,287,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Crowley Wealth Management Inc. bought a new stake in Barrick Gold during the 4th quarter valued at $26,000. First Horizon Advisors Inc. raised its position in Barrick Gold by 619.7% during the 4th quarter. First Horizon Advisors Inc. now owns 3,073 shares of the gold and copper producer's stock worth $48,000 after buying an additional 2,646 shares during the last quarter. Exchange Traded Concepts LLC lifted its position in Barrick Gold by 196.9% during the fourth quarter. Exchange Traded Concepts LLC now owns 4,178 shares of the gold and copper producer's stock valued at $65,000 after purchasing an additional 2,771 shares during the period. Newbridge Financial Services Group Inc. purchased a new stake in shares of Barrick Gold in the fourth quarter worth about $65,000. Finally, Principal Securities Inc. increased its holdings in shares of Barrick Gold by 119.4% during the 4th quarter. Principal Securities Inc. now owns 4,848 shares of the gold and copper producer's stock valued at $75,000 after purchasing an additional 2,638 shares in the last quarter. Hedge funds and other institutional investors own 62.85% of the company's stock.

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Analysts Set New Price Targets

A number of research firms have weighed in on GOLD. Bank of America cut shares of Barrick Gold from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $21.00 to $18.00 in a research report on Monday, January 27th. National Bank Financial raised Barrick Gold to a "hold" rating in a research report on Friday, March 21st. TD Securities lowered their target price on Barrick Gold from $24.00 to $23.00 and set a "buy" rating for the company in a report on Thursday, February 13th. Citigroup decreased their target price on Barrick Gold from $21.00 to $17.00 and set a "neutral" rating for the company in a report on Monday, March 31st. Finally, UBS Group raised their price objective on shares of Barrick Gold from $22.00 to $25.00 and gave the company a "buy" rating in a report on Friday. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $24.21.

Barrick Gold Stock Performance

GOLD traded down $0.09 during trading on Tuesday, reaching $20.33. 20,239,155 shares of the company were exchanged, compared to its average volume of 21,817,872. Barrick Gold Corp has a 52 week low of $15.11 and a 52 week high of $21.35. The company has a current ratio of 2.89, a quick ratio of 2.15 and a debt-to-equity ratio of 0.14. The stock has a market cap of $34.95 billion, a P/E ratio of 16.52, a PEG ratio of 0.44 and a beta of 0.55. The firm has a 50 day moving average of $18.55 and a 200 day moving average of $17.90.

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, meeting analysts' consensus estimates 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 forecast that Barrick Gold Corp will post 1.47 EPS for the current fiscal year.

Barrick Gold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend was Friday, February 28th. Barrick Gold's dividend payout ratio (DPR) is presently 32.52%.

Barrick Gold announced that its Board of Directors has authorized a share repurchase program on Wednesday, February 12th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the gold and copper producer to buy up to 3.2% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board of directors believes its shares are undervalued.

Barrick Gold Company 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.