Ingalls & Snyder LLC Buys 50,453 Shares of Barrick Gold Corp (NYSE:GOLD)

Ingalls & Snyder LLC lifted its holdings in shares of Barrick Gold Corp (NYSE:GOLD - Free Report) TSE: ABX by 193.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,553 shares of the gold and copper producer's stock after purchasing an additional 50,453 shares during the period. Ingalls & Snyder LLC's holdings in Barrick Gold were worth $1,187,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Van ECK Associates Corp boosted its holdings in Barrick Gold by 2.1% in the fourth quarter. Van ECK Associates Corp now owns 76,299,834 shares of the gold and copper producer's stock worth $1,182,641,000 after acquiring an additional 1,563,361 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Barrick Gold by 2.7% in the third quarter. Wellington Management Group LLP now owns 54,712,508 shares of the gold and copper producer's stock worth $1,088,484,000 after acquiring an additional 1,458,084 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Barrick Gold by 33.3% in the third quarter. The Manufacturers Life Insurance Company now owns 11,431,497 shares of the gold and copper producer's stock worth $227,524,000 after acquiring an additional 2,854,055 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Barrick Gold by 221.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,027,811 shares of the gold and copper producer's stock worth $199,427,000 after purchasing an additional 6,904,934 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Barrick Gold by 9.5% in the third quarter. Geode Capital Management LLC now owns 8,047,255 shares of the gold and copper producer's stock worth $162,140,000 after purchasing an additional 696,556 shares during the last quarter. Institutional investors own 62.85% of the company's stock.

Wall Street Analysts Forecast Growth

GOLD has been the subject of several analyst reports. Scotiabank downgraded Barrick Gold from an "outperform" rating to a "sector perform" rating and lowered their price objective for the stock from $23.00 to $19.00 in a research note on Thursday, January 30th. Cibc World Mkts downgraded Barrick Gold from a "strong-buy" rating to a "hold" rating in a research note on Monday, November 25th. Raymond James lowered their price objective on Barrick Gold from $25.00 to $24.00 and set an "outperform" rating for the company in a research note on Friday, February 7th. Citigroup lowered their price objective on Barrick Gold from $23.00 to $17.00 and set a "neutral" rating for the company in a research note on Friday, December 20th. Finally, Berenberg Bank increased their price objective on Barrick Gold from $37.00 to $38.00 in a research note on Tuesday, November 26th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $23.67.

Barrick Gold Stock Performance

Shares of GOLD traded down $0.49 on Monday, reaching $17.96. 29,052,684 shares of the company's stock traded hands, compared to its average volume of 19,482,404. The stock's 50 day simple moving average is $16.25 and its two-hundred day simple moving average is $18.17. Barrick Gold Corp has a 52-week low of $14.25 and a 52-week high of $21.35. The stock has a market cap of $31.01 billion, a PE ratio of 19.31, a PEG ratio of 0.39 and a beta of 0.55. The company has a current ratio of 2.65, a quick ratio of 2.06 and a debt-to-equity ratio of 0.14.

Barrick Gold (NYSE:GOLD - Get Free Report) TSE: ABX last announced its quarterly earnings data on Wednesday, February 12th. The gold and copper producer reported $0.46 earnings per share for the quarter, meeting the consensus estimate of $0.46. Barrick Gold had a return on equity of 5.82% and a net margin of 13.19%. On average, analysts forecast that Barrick Gold Corp will post 1.23 earnings per share for the current fiscal year.

Barrick Gold declared that its Board of Directors has authorized a stock 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 usually an indication that the company's management believes its shares are undervalued.

Barrick Gold Announces Dividend

The company also recently disclosed 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. This represents a $0.40 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend is Friday, February 28th. Barrick Gold's dividend payout ratio (DPR) is 43.01%.

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.