Korea Investment CORP Sells 25,989 Shares of Barrick Gold Corp (NYSE:GOLD)

Korea Investment CORP cut its holdings in shares of Barrick Gold Corp (NYSE:GOLD - Free Report) TSE: ABX by 1.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,358,081 shares of the gold and copper producer's stock after selling 25,989 shares during the quarter. Korea Investment CORP owned 0.08% of Barrick Gold worth $21,048,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in GOLD. Principal Financial Group Inc. increased its stake in Barrick Gold by 19.9% in the 3rd quarter. Principal Financial Group Inc. now owns 483,613 shares of the gold and copper producer's stock worth $9,630,000 after purchasing an additional 80,366 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Barrick Gold by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,073,717 shares of the gold and copper producer's stock valued at $78,637,000 after buying an additional 128,203 shares during the last quarter. Crocodile Capital Partners GmbH boosted its position in Barrick Gold by 97.3% during the 4th quarter. Crocodile Capital Partners GmbH now owns 1,460,000 shares of the gold and copper producer's stock valued at $22,630,000 after buying an additional 720,000 shares during the period. Chiron Investment Management LLC grew its holdings in Barrick Gold by 36.5% in the 3rd quarter. Chiron Investment Management LLC now owns 604,199 shares of the gold and copper producer's stock worth $12,018,000 after acquiring an additional 161,688 shares during the last quarter. Finally, Legend Financial Advisors Inc. purchased a new position in shares of Barrick Gold in the fourth quarter valued at about $700,000. Hedge funds and other institutional investors own 62.85% of the company's stock.

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Analyst Upgrades and Downgrades

GOLD has been the topic of several recent analyst reports. Stifel Canada raised Barrick Gold to a "strong-buy" rating in a research note on Wednesday, March 19th. Scotiabank lifted their price objective on Barrick Gold from $19.00 to $20.00 and gave the stock a "sector perform" rating in a research report on Tuesday, February 18th. Raymond James upped their target price on Barrick Gold from $23.00 to $23.50 and gave the company an "outperform" rating in a report on Monday. UBS Group upgraded shares of Barrick Gold from a "neutral" rating to a "buy" rating and set a $22.00 price target on the stock in a report on Wednesday, March 5th. Finally, Bank of America cut shares of Barrick Gold from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $21.00 to $18.00 in a research report on Monday, January 27th. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Barrick Gold currently has an average rating of "Moderate Buy" and an average target price of $23.71.

Barrick Gold Stock Up 0.9 %

Shares of GOLD stock traded up $0.17 during trading hours on Thursday, hitting $19.58. 11,982,271 shares of the company's stock traded hands, compared to its average volume of 22,854,400. The company has a quick ratio of 2.15, a current ratio of 2.89 and a debt-to-equity ratio of 0.14. The stock's fifty day simple moving average is $18.07 and its two-hundred day simple moving average is $18.02. Barrick Gold Corp has a 12-month low of $15.11 and a 12-month high of $21.35. The stock has a market cap of $33.79 billion, a price-to-earnings ratio of 15.92, a PEG ratio of 0.44 and a beta of 0.58.

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 (EPS) 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, analysts expect 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 paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.40 dividend on an annualized basis and a yield of 2.04%. Barrick Gold's dividend payout ratio is currently 32.52%.

Barrick Gold announced that its board has approved a share buyback plan 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 plans are typically an indication that the company's leadership believes its stock is undervalued.

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.