Quantbot Technologies LP Acquires Shares of 271,195 Barrick Gold Corp (NYSE:GOLD)

Quantbot Technologies LP acquired a new stake in shares of Barrick Gold Corp (NYSE:GOLD - Free Report) TSE: ABX during the 4th quarter, according to its most recent 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 institutional investors have also recently modified their holdings of GOLD. Principal Financial Group Inc. increased its position in shares of Barrick Gold by 19.9% during the 3rd quarter. Principal Financial Group Inc. now owns 483,613 shares of the gold and copper producer's stock valued at $9,630,000 after purchasing an additional 80,366 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in Barrick Gold by 4.6% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 149,305 shares of the gold and copper producer's stock worth $2,970,000 after acquiring an additional 6,499 shares during the last quarter. Zions Bancorporation N.A. grew its position in Barrick Gold by 7.0% during the 3rd quarter. Zions Bancorporation N.A. now owns 15,912 shares of the gold and copper producer's stock worth $316,000 after acquiring an additional 1,036 shares during the last quarter. Metis Global Partners LLC grew its position in Barrick Gold by 21.9% during the 3rd quarter. Metis Global Partners LLC now owns 138,232 shares of the gold and copper producer's stock worth $2,749,000 after acquiring an additional 24,812 shares during the last quarter. Finally, OneDigital Investment Advisors LLC grew its position in Barrick Gold by 31.4% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 17,830 shares of the gold and copper producer's stock worth $355,000 after acquiring an additional 4,258 shares during the last quarter. 62.85% of the stock is currently owned by institutional investors.

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Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Citigroup reduced their price target on Barrick Gold from $23.00 to $17.00 and set a "neutral" rating on the stock in a research report on Friday, December 20th. TD Securities reduced their price target on Barrick Gold from $24.00 to $23.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. CIBC lowered Barrick Gold from a "sector outperform" rating to a "neutral" rating in a research report on Monday, November 25th. Bank of America cut Barrick Gold from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $21.00 to $18.00 in a report on Monday, January 27th. Finally, Berenberg Bank increased their price objective on Barrick Gold from $37.00 to $38.00 in a report on Tuesday, November 26th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Barrick Gold presently has an average rating of "Moderate Buy" and a consensus price target of $23.75.

Barrick Gold Stock Up 0.9 %

Shares of GOLD traded up $0.17 on Tuesday, reaching $19.35. The stock had a trading volume of 28,656,850 shares, compared to its average volume of 21,621,519. The firm has a market capitalization of $33.39 billion, a price-to-earnings ratio of 15.73, a price-to-earnings-growth ratio of 0.44 and a beta of 0.58. 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 company has a 50-day simple moving average of $17.30 and a 200-day simple moving average of $18.05. Barrick Gold Corp has a 12-month low of $0.25 and a 12-month high of $21.35.

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

Barrick Gold Announces Dividend

The business 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. This represents a $0.40 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend was Friday, February 28th. Barrick Gold's payout ratio is 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 reacquire up to 3.2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's management 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.