Grantham Mayo Van Otterloo & Co. LLC Makes New $259,000 Investment in Barrick Gold Corp (NYSE:GOLD)

Grantham Mayo Van Otterloo & Co. LLC bought a new position in Barrick Gold Corp (NYSE:GOLD - Free Report) TSE: ABX during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 16,687 shares of the gold and copper producer's stock, valued at approximately $259,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Chelsea Counsel Co. boosted its holdings in shares of Barrick Gold by 1.4% during the 3rd quarter. Chelsea Counsel Co. now owns 42,973 shares of the gold and copper producer's stock worth $855,000 after buying an additional 590 shares during the period. VisionPoint Advisory Group LLC lifted its position in Barrick Gold by 6.7% during the 4th quarter. VisionPoint Advisory Group LLC now owns 14,051 shares of the gold and copper producer's stock worth $224,000 after acquiring an additional 880 shares during the last quarter. Bangor Savings Bank boosted its holdings in 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 acquiring an additional 956 shares during the period. Confluence Investment Management LLC grew its position in shares of Barrick Gold by 3.4% in the fourth quarter. Confluence Investment Management LLC now owns 29,751 shares of the gold and copper producer's stock valued at $461,000 after purchasing an additional 974 shares during the last quarter. Finally, Mesirow Financial Investment Management Inc. increased its stake in shares of Barrick Gold by 3.5% in the fourth quarter. Mesirow Financial Investment Management Inc. now owns 30,510 shares of the gold and copper producer's stock worth $473,000 after purchasing an additional 1,035 shares during the period. 62.85% of the stock is owned by hedge funds and other institutional investors.

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Barrick Gold Price Performance

GOLD stock traded up $1.35 during trading on Friday, hitting $20.59. 41,724,502 shares of the stock traded hands, compared to its average volume of 21,921,418. The stock has a market cap of $35.41 billion, a price-to-earnings ratio of 16.74, a P/E/G ratio of 0.44 and a beta of 0.55. Barrick Gold Corp has a one year low of $15.11 and a one year 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 company has a 50 day simple moving average of $18.49 and a 200 day simple moving average of $17.92.

Barrick Gold (NYSE:GOLD - Get Free Report) TSE: ABX last posted 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%. Equities analysts expect that Barrick Gold Corp will post 1.47 EPS for the current fiscal year.

Barrick Gold declared that its Board of Directors has initiated a stock buyback program 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 programs are generally an indication that the company's leadership believes its shares are undervalued.

Barrick Gold Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.94%. The ex-dividend date was Friday, February 28th. Barrick Gold's payout ratio is presently 32.52%.

Wall Street Analyst Weigh In

GOLD has been the subject of several research reports. Raymond James increased their price objective on Barrick Gold from $23.00 to $23.50 and gave the company an "outperform" rating in a research report on Monday, March 31st. Royal Bank of Canada increased their price target on shares of Barrick Gold from $22.00 to $23.00 and gave the company an "outperform" rating in a report on Friday, April 4th. Bank of America downgraded shares of Barrick Gold from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $21.00 to $18.00 in a report on Monday, January 27th. UBS Group increased their target price on shares of Barrick Gold from $22.00 to $25.00 and gave the company a "buy" rating in a research note on Friday. Finally, TD Securities lowered their price target on Barrick Gold from $24.00 to $23.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $24.04.

About Barrick Gold

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.