Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. Invests $5.66 Million in Barrick Gold Corp (NYSE:GOLD)

Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. purchased a new stake in Barrick Gold Corp (NYSE:GOLD - Free Report) TSE: ABX during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 365,238 shares of the gold and copper producer's stock, valued at approximately $5,661,000. Barrick Gold comprises about 7.8% of Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A.'s investment portfolio, making the stock its 4th largest position.

Several other hedge funds also recently added to or reduced their stakes in the stock. Van ECK Associates Corp boosted its position in shares of 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 purchasing an additional 1,563,361 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Barrick Gold by 2.7% in the third quarter. Wellington Management Group LLP now owns 54,712,508 shares of the gold and copper producer's stock valued at $1,088,484,000 after acquiring an additional 1,458,084 shares during the period. Ruffer LLP grew its position in shares of Barrick Gold by 14.8% during the fourth quarter. Ruffer LLP now owns 10,269,848 shares of the gold and copper producer's stock worth $159,180,000 after acquiring an additional 1,325,119 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Barrick Gold by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 68,358,533 shares of the gold and copper producer's stock valued at $1,060,036,000 after acquiring an additional 1,195,585 shares during the period. Finally, Mufg Securities Canada LTD. raised its position in Barrick Gold by 71.6% in the 4th quarter. Mufg Securities Canada LTD. now owns 2,669,327 shares of the gold and copper producer's stock valued at $41,365,000 after purchasing an additional 1,113,748 shares during the last quarter. 62.85% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

GOLD has been the topic of several research reports. Citigroup lowered their price objective on shares of Barrick Gold from $21.00 to $17.00 and set a "neutral" rating on the stock in a research report on Monday. Stifel Canada upgraded Barrick Gold to a "strong-buy" rating in a research report on Wednesday, March 19th. TD Securities decreased their price objective on Barrick Gold from $24.00 to $23.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. UBS Group raised Barrick Gold from a "neutral" rating to a "buy" rating and set a $22.00 target price on the stock in a report on Wednesday, March 5th. Finally, Raymond James increased their price target on Barrick Gold from $23.00 to $23.50 and gave the stock an "outperform" rating in a report on Monday. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Barrick Gold presently has an average rating of "Moderate Buy" and a consensus target price of $23.71.

Barrick Gold Price Performance

Shares of GOLD traded up $0.23 during trading hours on Tuesday, reaching $19.67. The company had a trading volume of 24,756,822 shares, compared to its average volume of 21,858,164. The company has a current ratio of 2.89, a quick ratio of 2.15 and a debt-to-equity ratio of 0.14. Barrick Gold Corp has a 12-month low of $15.11 and a 12-month high of $21.35. The firm has a 50 day simple moving average of $17.92 and a 200-day simple moving average of $18.02. The company has a market capitalization of $33.95 billion, a price-to-earnings ratio of 16.00, a PEG ratio of 0.44 and a beta of 0.58.

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 (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%. Research analysts expect that Barrick Gold Corp will post 1.47 earnings per share for the current year.

Barrick Gold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend was Friday, February 28th. Barrick Gold's dividend payout ratio (DPR) is 32.52%.

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