Russell Investments Group Ltd. boosted its holdings in Barrick Gold Corp (NYSE:GOLD - Free Report) TSE: ABX by 15.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,976,012 shares of the gold and copper producer's stock after purchasing an additional 394,746 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.17% of Barrick Gold worth $46,124,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Crowley Wealth Management Inc. purchased a new stake in shares of Barrick Gold during the 4th quarter worth about $26,000. First Horizon Advisors Inc. boosted its holdings in 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 worth $48,000 after acquiring an additional 2,646 shares during the period. Exchange Traded Concepts LLC grew its position in Barrick Gold by 196.9% in 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 acquiring an additional 2,771 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new stake in Barrick Gold during the 4th quarter worth $65,000. Finally, Principal Securities Inc. lifted its stake in shares of 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 acquiring an additional 2,638 shares in the last quarter. 62.85% of the stock is owned by institutional investors and hedge funds.
Barrick Gold Stock Performance
Shares of NYSE GOLD traded up $1.35 during midday trading on Friday, reaching $20.59. 41,724,502 shares of the company traded hands, compared to its average volume of 21,921,418. Barrick Gold Corp has a 52 week low of $15.11 and a 52 week high of $21.35. The company has a market cap of $35.41 billion, a price-to-earnings ratio of 16.74, a PEG ratio of 0.44 and a beta of 0.55. The stock has a 50-day moving average price of $18.49 and a 200 day moving average price of $17.92. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.89 and a quick ratio of 2.15.
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 earnings per share for the quarter, hitting 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 anticipate that Barrick Gold Corp will post 1.47 earnings per share for the current fiscal year.
Barrick Gold announced that its board has initiated a stock buyback program on Wednesday, February 12th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the gold and copper producer to buy up to 3.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company's management believes its shares are undervalued.
Barrick Gold Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders 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 annualized dividend and a dividend yield of 1.94%. Barrick Gold's dividend payout ratio is currently 32.52%.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on the stock. Bank of America downgraded shares of Barrick Gold from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $21.00 to $18.00 in a research report on Monday, January 27th. TD Securities cut their price objective on Barrick Gold from $24.00 to $23.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. StockNews.com upgraded Barrick Gold from a "buy" rating to a "strong-buy" rating in a report on Saturday, April 5th. National Bank Financial upgraded Barrick Gold to a "hold" rating in a research note on Friday, March 21st. Finally, UBS Group boosted their target price on shares of Barrick Gold from $22.00 to $25.00 and gave the company a "buy" rating in a research note on Friday. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Barrick Gold currently has an average rating of "Moderate Buy" and a consensus target price of $24.04.
View Our Latest Research Report on GOLD
About Barrick Gold
(
Free Report)
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.
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