Barrick Gold Corp (NYSE:GOLD) Stake Increased by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd boosted its stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 208.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 177,659 shares of the gold and copper producer’s stock after acquiring an additional 120,129 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Barrick Gold were worth $2,754,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. JFS Wealth Advisors LLC raised its stake in shares of Barrick Gold by 451.7% in the 3rd quarter. JFS Wealth Advisors LLC now owns 1,909 shares of the gold and copper producer’s stock valued at $38,000 after purchasing an additional 1,563 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in Barrick Gold by 619.7% in the fourth quarter. First Horizon Advisors Inc. now owns 3,073 shares of the gold and copper producer’s stock valued at $48,000 after buying an additional 2,646 shares during the last quarter. BNP Paribas raised its stake in Barrick Gold by 221.7% during the third quarter. BNP Paribas now owns 3,066 shares of the gold and copper producer’s stock valued at $62,000 after buying an additional 2,113 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings 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 worth $65,000 after buying an additional 2,771 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new position in shares of Barrick Gold in the 4th quarter worth approximately $65,000. 62.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Berenberg Bank upped their price target on Barrick Gold from $37.00 to $38.00 in a research report on Tuesday, November 26th. Bank of America downgraded shares of Barrick Gold from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $21.00 to $18.00 in a research report on Monday, January 27th. Citigroup lowered their price objective on shares of Barrick Gold from $23.00 to $17.00 and set a “neutral” rating for the company in a research report on Friday, December 20th. TD Securities cut their target price on shares of Barrick Gold from $24.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Finally, Cibc World Mkts lowered Barrick Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, November 25th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $23.75.

Barrick Gold Stock Down 0.2 %

GOLD opened at $18.27 on Tuesday. The stock’s 50 day moving average price is $16.42 and its 200 day moving average price is $18.21. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.89 and a quick ratio of 2.15. The stock has a market cap of $31.55 billion, a P/E ratio of 14.85, a P/E/G ratio of 0.44 and a beta of 0.55. Barrick Gold Corp has a 12 month low of $14.27 and a 12 month high of $21.35.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its quarterly earnings data on Wednesday, February 12th. The gold and copper producer reported $0.46 earnings per share 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%. As a group, research analysts predict that Barrick Gold Corp will post 1.47 earnings per share for the current year.

Barrick Gold declared that its board has initiated a stock repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the gold and copper producer to repurchase up to 3.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Barrick Gold Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend is Friday, February 28th. Barrick Gold’s dividend payout ratio is currently 32.52%.

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.