Nikko Asset Management Americas Inc. Has $1.56 Million Stock Position in Barrick Gold Corp (NYSE:GOLD)

Nikko Asset Management Americas Inc. reduced its position in shares of Barrick Gold Corp (NYSE:GOLD - Free Report) TSE: ABX by 14.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 100,444 shares of the gold and copper producer's stock after selling 16,325 shares during the quarter. Nikko Asset Management Americas Inc.'s holdings in Barrick Gold were worth $1,557,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Moors & Cabot Inc. increased its stake in shares of Barrick Gold by 0.9% in the 3rd quarter. Moors & Cabot Inc. now owns 64,085 shares of the gold and copper producer's stock valued at $1,275,000 after acquiring an additional 579 shares during the last quarter. Chelsea Counsel Co. grew its position in shares of Barrick Gold by 1.4% in the 3rd quarter. Chelsea Counsel Co. now owns 42,973 shares of the gold and copper producer's stock valued at $855,000 after purchasing an additional 590 shares during the period. Avior Wealth Management LLC grew its position in shares of Barrick Gold by 24.1% in the 3rd quarter. Avior Wealth Management LLC now owns 3,399 shares of the gold and copper producer's stock valued at $68,000 after purchasing an additional 659 shares during the period. VisionPoint Advisory Group LLC grew its position in shares of Barrick Gold by 6.7% in the 4th 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 during the period. Finally, Bangor Savings Bank grew its position in shares of Barrick Gold by 4.5% in the 4th 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 period. 62.85% of the stock is owned by institutional investors.

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Barrick Gold Stock Performance

GOLD traded up $0.05 during trading hours on Wednesday, reaching $19.38. The company's stock had a trading volume of 15,703,103 shares, compared to its average volume of 21,603,087. Barrick Gold Corp has a 52 week low of $0.25 and a 52 week high of $21.35. The company's 50-day moving average is $17.30 and its 200-day moving average is $18.05. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.15 and a current ratio of 2.89. The firm has a market cap of $33.45 billion, a PE ratio of 15.78, a price-to-earnings-growth ratio of 0.44 and a beta of 0.58.

Barrick Gold (NYSE:GOLD - Get Free Report) TSE: ABX last posted 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 return on equity of 6.76% and a net margin of 16.59%. On average, equities analysts forecast that Barrick Gold Corp will post 1.47 EPS for the current year.

Barrick Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.06%. The ex-dividend date was Friday, February 28th. Barrick Gold's payout ratio is 32.52%.

Barrick Gold declared that its board has authorized a stock repurchase program on Wednesday, February 12th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the gold and copper producer to reacquire up to 3.2% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several equities analysts recently issued reports on GOLD shares. Raymond James decreased their price objective on Barrick Gold from $25.00 to $24.00 and set an "outperform" rating for the company in a research report on Friday, February 7th. CIBC downgraded Barrick Gold from a "sector outperform" rating to a "neutral" rating in a research report on Monday, November 25th. Citigroup reduced their price target on Barrick Gold from $23.00 to $17.00 and set a "neutral" rating for the company in a research report on Friday, December 20th. Scotiabank increased their price objective on Barrick Gold from $19.00 to $20.00 and gave the company a "sector perform" rating in a report on Tuesday, February 18th. Finally, Berenberg Bank increased their price objective on Barrick Gold from $37.00 to $38.00 in a report on Tuesday, November 26th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Barrick Gold has a consensus rating of "Moderate Buy" and a consensus 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.