Intech Investment Management LLC Buys Shares of 345,036 Barrick Gold Corp (NYSE:GOLD)

Intech Investment Management LLC purchased a new stake in shares of Barrick Gold Corp (NYSE:GOLD - Free Report) TSE: ABX during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 345,036 shares of the gold and copper producer's stock, valued at approximately $5,348,000.

Several other hedge funds have also recently bought and sold shares of GOLD. Van ECK Associates Corp grew its holdings in shares of Barrick Gold by 2.1% during the 4th quarter. Van ECK Associates Corp now owns 76,299,834 shares of the gold and copper producer's stock valued at $1,182,641,000 after acquiring an additional 1,563,361 shares in the last quarter. Wellington Management Group LLP boosted its position in Barrick Gold by 2.7% during the third quarter. Wellington Management Group LLP now owns 54,712,508 shares of the gold and copper producer's stock valued at $1,088,484,000 after purchasing an additional 1,458,084 shares during the last quarter. Amundi grew its stake in Barrick Gold by 1.7% in the fourth quarter. Amundi now owns 14,120,278 shares of the gold and copper producer's stock valued at $223,665,000 after purchasing an additional 236,116 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Barrick Gold by 33.3% during the 3rd 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 purchasing an additional 2,854,055 shares in the last quarter. Finally, Ruffer LLP lifted its holdings in shares of Barrick Gold by 14.8% during the 4th quarter. Ruffer LLP now owns 10,269,848 shares of the gold and copper producer's stock valued at $159,180,000 after buying an additional 1,325,119 shares during the last quarter. 62.85% of the stock is owned by hedge funds and other institutional investors.

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Barrick Gold Price Performance

NYSE:GOLD traded down $0.43 during mid-day trading on Friday, hitting $18.86. The company's stock had a trading volume of 24,998,580 shares, compared to its average volume of 21,591,432. Barrick Gold Corp has a fifty-two week low of $0.25 and a fifty-two 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 fifty day moving average of $17.50 and a 200-day moving average of $18.04. The company has a market capitalization of $32.54 billion, a price-to-earnings ratio of 15.33, a P/E/G ratio of 0.44 and a beta of 0.58.

Barrick Gold (NYSE:GOLD - Get Free Report) TSE: ABX last issued its earnings results on Wednesday, February 12th. The gold and copper producer reported $0.46 EPS for the quarter, meeting the consensus estimate of $0.46. Barrick Gold had a net margin of 16.59% and a return on equity of 6.76%. As a group, equities analysts forecast that Barrick Gold Corp will post 1.47 EPS for the current fiscal year.

Barrick Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.12%. The ex-dividend date was Friday, February 28th. Barrick Gold's payout ratio is presently 32.52%.

Barrick Gold announced that its board has approved a stock buyback plan 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 repurchase up to 3.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

GOLD has been the topic of a number of research reports. TD Securities dropped their price objective on Barrick Gold from $24.00 to $23.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. Cibc World Mkts downgraded shares of Barrick Gold from a "strong-buy" rating to a "hold" rating in a research report on Monday, November 25th. UBS Group raised Barrick Gold from a "neutral" rating to a "buy" rating and set a $22.00 price target for the company in a research report on Wednesday, March 5th. Berenberg Bank boosted their target price on Barrick Gold from $37.00 to $38.00 in a report on Tuesday, November 26th. Finally, Stifel Canada raised Barrick Gold to a "strong-buy" rating in a research report on Wednesday. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $23.75.

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.