one8zero8 LLC Takes Position in Barrick Gold Corp (NYSE:GOLD)

one8zero8 LLC purchased a new stake in Barrick Gold Corp (NYSE:GOLD - Free Report) TSE: ABX in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 14,450 shares of the gold and copper producer's stock, valued at approximately $224,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GOLD. Connor Clark & Lunn Investment Management Ltd. boosted its position in Barrick Gold by 221.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,027,811 shares of the gold and copper producer's stock valued at $199,427,000 after buying an additional 6,904,934 shares during the period. The Manufacturers Life Insurance Company boosted its position in Barrick Gold by 33.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 11,431,497 shares of the gold and copper producer's stock valued at $227,524,000 after buying an additional 2,854,055 shares during the period. Van ECK Associates Corp boosted its position in Barrick Gold by 2.1% in 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 buying an additional 1,563,361 shares during the period. Wellington Management Group LLP lifted its position in shares of Barrick Gold by 2.7% during the 3rd 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 purchasing an additional 1,458,084 shares during the last quarter. Finally, Ruffer LLP lifted its position 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 worth $159,180,000 after purchasing an additional 1,325,119 shares during the last quarter. Hedge funds and other institutional investors own 62.85% of the company's stock.

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Analysts Set New Price Targets

Several research firms have recently issued reports on GOLD. Bank of America cut shares of Barrick Gold from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $21.00 to $18.00 in a research report on Monday, January 27th. Stifel Canada raised shares of Barrick Gold to a "strong-buy" rating in a research report on Wednesday. Berenberg Bank lifted their price objective on shares of Barrick Gold from $37.00 to $38.00 in a research report on Tuesday, November 26th. UBS Group raised shares of Barrick Gold from a "neutral" rating to a "buy" rating and set a $22.00 price objective for the company in a research report on Wednesday, March 5th. Finally, Scotiabank lifted their price objective 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. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Barrick Gold presently has an average rating of "Moderate Buy" and an average price target of $23.75.

Barrick Gold Stock Performance

NYSE GOLD traded down $0.12 during trading on Thursday, reaching $19.28. The company's stock had a trading volume of 11,036,553 shares, compared to its average volume of 21,584,892. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.15 and a current ratio of 2.89. The firm has a market cap of $33.26 billion, a price-to-earnings ratio of 15.67, a P/E/G ratio of 0.44 and a beta of 0.58. Barrick Gold Corp has a twelve month low of $0.25 and a twelve month high of $21.35. The business's fifty day moving average price is $17.37 and its 200-day moving average price is $18.05.

Barrick Gold (NYSE:GOLD - Get Free Report) TSE: ABX last posted its quarterly earnings data on Wednesday, February 12th. The gold and copper producer reported $0.46 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%. As a group, analysts anticipate that Barrick Gold Corp will post 1.47 EPS for the current fiscal year.

Barrick Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend was Friday, February 28th. Barrick Gold's payout ratio is 32.52%.

Barrick Gold announced that its Board of Directors has authorized a stock buyback plan on Wednesday, February 12th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the gold and copper producer to buy up to 3.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

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.