Oaktree Capital Management LP Invests $15.73 Million in Barrick Gold Corp (NYSE:GOLD)

Oaktree Capital Management LP acquired a new position in Barrick Gold Corp (NYSE:GOLD - Free Report) TSE: ABX in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,015,063 shares of the gold and copper producer's stock, valued at approximately $15,733,000. Oaktree Capital Management LP owned approximately 0.06% of Barrick Gold at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. Crowley Wealth Management Inc. purchased a new stake in Barrick Gold in the fourth quarter worth about $26,000. First Horizon Advisors Inc. lifted its stake in shares of Barrick Gold by 619.7% in the 4th quarter. First Horizon Advisors Inc. now owns 3,073 shares of the gold and copper producer's stock valued at $48,000 after purchasing an additional 2,646 shares during the period. Exchange Traded Concepts LLC boosted its position in shares of Barrick Gold by 196.9% during the fourth quarter. Exchange Traded Concepts LLC now owns 4,178 shares of the gold and copper producer's stock valued at $65,000 after purchasing an additional 2,771 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new stake in Barrick Gold in the fourth quarter worth $65,000. Finally, Principal Securities Inc. raised its holdings in Barrick Gold by 119.4% in the fourth quarter. Principal Securities Inc. now owns 4,848 shares of the gold and copper producer's stock worth $75,000 after purchasing an additional 2,638 shares in the last quarter. Institutional investors own 62.85% of the company's stock.

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Barrick Gold Stock Performance

Shares of GOLD stock traded up $0.23 during trading hours on Tuesday, reaching $19.67. The company had a trading volume of 25,209,748 shares, compared to its average volume of 21,859,884. The firm has a market cap of $33.95 billion, a PE ratio of 16.00, a price-to-earnings-growth ratio of 0.44 and a beta of 0.58. The business has a fifty day moving average price of $17.92 and a 200-day moving average price of $18.02. Barrick Gold Corp has a one year low of $15.11 and a one year high of $21.35. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.15 and a current ratio of 2.89.

Barrick Gold (NYSE:GOLD - Get Free Report) TSE: ABX last announced its 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 net margin of 16.59% and a return on equity of 6.76%. Sell-side analysts predict that Barrick Gold Corp will post 1.47 earnings per share for the current fiscal year.

Barrick Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were given a $0.10 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.40 annualized dividend and a yield of 2.03%. Barrick Gold's payout ratio is 32.52%.

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

Analyst Ratings Changes

A number of research firms have recently weighed in on GOLD. Scotiabank upped their target price on shares of Barrick Gold from $19.00 to $20.00 and gave the stock a "sector perform" rating in a research report on Tuesday, February 18th. National Bank Financial raised shares of Barrick Gold to a "hold" rating in a research note on Friday, March 21st. UBS Group upgraded Barrick Gold from a "neutral" rating to a "buy" rating and set a $22.00 price target on the stock in a research note on Wednesday, March 5th. TD Securities lowered their price objective on Barrick Gold from $24.00 to $23.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Finally, Citigroup cut their target price on Barrick Gold from $21.00 to $17.00 and set a "neutral" rating on the stock in a research note on Monday. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $23.71.

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.