Price T Rowe Associates Inc. MD Sells 84,319 Shares of Barrick Gold Corp (NYSE:GOLD)

Price T Rowe Associates Inc. MD lowered its stake in Barrick Gold Corp (NYSE:GOLD - Free Report) TSE: ABX by 1.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,777,848 shares of the gold and copper producer's stock after selling 84,319 shares during the period. Price T Rowe Associates Inc. MD owned 0.39% of Barrick Gold worth $105,058,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of GOLD. Capital International Investors boosted its holdings in shares of Barrick Gold by 136.1% during the 4th quarter. Capital International Investors now owns 33,293,792 shares of the gold and copper producer's stock valued at $516,055,000 after buying an additional 19,189,830 shares in the last quarter. Causeway Capital Management LLC bought a new stake in shares of Barrick Gold during the 4th quarter valued at $172,225,000. Wellington Management Group LLP boosted its holdings in shares of Barrick Gold by 17.5% during the 4th quarter. Wellington Management Group LLP now owns 64,310,800 shares of the gold and copper producer's stock valued at $996,802,000 after buying an additional 9,598,292 shares in the last quarter. FIL Ltd boosted its holdings in shares of Barrick Gold by 236.7% during the 4th quarter. FIL Ltd now owns 6,815,946 shares of the gold and copper producer's stock valued at $105,692,000 after buying an additional 4,791,663 shares in the last quarter. Finally, Capital International Inc. CA bought a new stake in shares of Barrick Gold during the 4th quarter valued at $57,991,000. Institutional investors own 62.85% of the company's stock.

Analyst Ratings Changes

GOLD has been the topic of a number of analyst reports. National Bankshares reiterated an "outperform" rating on shares of Barrick Gold in a research note on Wednesday, April 2nd. Raymond James upped their price target on shares of Barrick Gold from $23.00 to $23.50 and gave the stock an "outperform" rating in a research note on Monday, March 31st. StockNews.com upgraded shares of Barrick Gold from a "buy" rating to a "strong-buy" rating in a research note on Saturday, April 5th. UBS Group upped their price target on shares of Barrick Gold from $22.00 to $25.00 and gave the stock a "buy" rating in a research note on Friday, April 11th. Finally, BMO Capital Markets initiated coverage on shares of Barrick Gold in a research note on Wednesday, April 16th. They issued a "market perform" rating on the stock. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $24.05.

Barrick Gold Stock Performance

Shares of NYSE GOLD traded up $0.25 during midday trading on Monday, hitting $19.30. 16,481,389 shares of the company's stock traded hands, compared to its average volume of 21,597,208. Barrick Gold Corp has a 1 year low of $15.11 and a 1 year high of $21.35. The stock has a market capitalization of $33.19 billion, a price-to-earnings ratio of 15.69, a price-to-earnings-growth ratio of 0.44 and a beta of 0.55. 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 fifty day moving average of $18.96 and a 200 day moving average of $17.90.

Barrick Gold (NYSE:GOLD - Get Free Report) TSE: ABX last released its quarterly 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%. On average, analysts forecast that Barrick Gold Corp will post 1.47 earnings per share for the current year.

Barrick Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were paid a dividend of $0.10 per share. The ex-dividend date was Friday, February 28th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.07%. Barrick Gold's dividend payout ratio (DPR) is presently 32.52%.

Barrick Gold declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 12th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the gold and copper producer to purchase up to 3.2% of its stock through open market purchases. Stock buyback plans are often an indication that the company's management 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.