Quantbot Technologies LP Makes New Investment in Barrick Gold Corp (NYSE:GOLD)

Quantbot Technologies LP acquired a new position in Barrick Gold Corp (NYSE:GOLD - Free Report) TSE: ABX in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 271,195 shares of the gold and copper producer's stock, valued at approximately $4,204,000.

Several other large investors have also recently added to or reduced their stakes in the business. BNP Paribas raised its position in shares of Barrick Gold by 221.7% during the 3rd quarter. BNP Paribas now owns 3,066 shares of the gold and copper producer's stock worth $62,000 after buying an additional 2,113 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in Barrick Gold by 619.7% during the fourth quarter. First Horizon Advisors Inc. now owns 3,073 shares of the gold and copper producer's stock worth $48,000 after purchasing an additional 2,646 shares in the last quarter. Avior Wealth Management LLC lifted its position in Barrick Gold by 24.1% in the third quarter. Avior Wealth Management LLC now owns 3,399 shares of the gold and copper producer's stock worth $68,000 after purchasing an additional 659 shares during the period. Newbridge Financial Services Group Inc. bought a new position in Barrick Gold during the 4th quarter valued at $65,000. Finally, Exchange Traded Concepts LLC boosted its stake in Barrick Gold by 196.9% during the 4th 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. 62.85% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Bank of America cut Barrick Gold from a "buy" rating to a "neutral" rating and decreased their target price for the company from $21.00 to $18.00 in a research note on Monday, January 27th. Berenberg Bank raised their price objective on shares of Barrick Gold from $37.00 to $38.00 in a research report on Tuesday, November 26th. CIBC downgraded shares of Barrick Gold from a "sector outperform" rating to a "neutral" rating in a report on Monday, November 25th. Raymond James cut their target price on shares of Barrick Gold from $25.00 to $24.00 and set an "outperform" rating for the company in a research note on Friday, February 7th. Finally, Citigroup decreased their price target on shares of Barrick Gold from $23.00 to $17.00 and set a "neutral" rating on the stock in a research report on Friday, December 20th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $23.75.

Barrick Gold Stock Up 1.1 %

Shares of Barrick Gold stock traded up $0.21 during midday trading on Tuesday, hitting $19.39. The company's stock had a trading volume of 18,686,157 shares, compared to its average volume of 21,547,667. Barrick Gold Corp has a 1-year low of $0.25 and a 1-year high of $21.35. 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 firm has a market capitalization of $33.46 billion, a P/E ratio of 15.75, a PEG ratio of 0.44 and a beta of 0.58. The stock has a 50-day simple moving average of $17.22 and a 200-day simple moving average of $18.05.

Barrick Gold (NYSE:GOLD - Get Free Report) TSE: ABX last posted its quarterly earnings results on Wednesday, February 12th. The gold and copper producer reported $0.46 earnings per share for the quarter, hitting 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, sell-side analysts expect that Barrick Gold Corp will post 1.47 earnings per share for the current year.

Barrick Gold announced that its board has approved a stock buyback program on Wednesday, February 12th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the gold and copper producer to purchase up to 3.2% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's leadership believes its stock is undervalued.

Barrick Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were issued a $0.10 dividend. 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 2.06%. Barrick Gold's dividend payout ratio is currently 32.52%.

About Barrick Gold

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.