Rockefeller Capital Management L.P. Raises Position in Barrick Gold Corp (NYSE:GOLD)

Rockefeller Capital Management L.P. increased its stake in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 3.0% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 472,060 shares of the gold and copper producer’s stock after acquiring an additional 13,897 shares during the period. Rockefeller Capital Management L.P.’s holdings in Barrick Gold were worth $7,317,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. VisionPoint Advisory Group LLC lifted its position in shares of Barrick Gold by 6.7% during the fourth quarter. VisionPoint Advisory Group LLC now owns 14,051 shares of the gold and copper producer’s stock worth $224,000 after purchasing an additional 880 shares in the last quarter. Bangor Savings Bank increased its stake in Barrick Gold by 4.5% during the 4th quarter. Bangor Savings Bank now owns 22,025 shares of the gold and copper producer’s stock worth $341,000 after buying an additional 956 shares during the period. Confluence Investment Management LLC lifted its holdings in Barrick Gold by 3.4% in the 4th quarter. Confluence Investment Management LLC now owns 29,751 shares of the gold and copper producer’s stock worth $461,000 after buying an additional 974 shares in the last quarter. Mesirow Financial Investment Management Inc. grew its stake in shares of Barrick Gold by 3.5% during the fourth quarter. Mesirow Financial Investment Management Inc. now owns 30,510 shares of the gold and copper producer’s stock valued at $473,000 after acquiring an additional 1,035 shares in the last quarter. Finally, M&T Bank Corp increased its position in shares of Barrick Gold by 2.6% during the fourth quarter. M&T Bank Corp now owns 46,320 shares of the gold and copper producer’s stock worth $718,000 after acquiring an additional 1,179 shares during the last quarter. Hedge funds and other institutional investors own 62.85% of the company’s stock.

Wall Street Analysts Forecast Growth

GOLD has been the subject of a number of recent analyst reports. TD Securities lowered their price objective on Barrick Gold from $24.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Royal Bank of Canada lifted their price target on shares of Barrick Gold from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Friday, April 4th. UBS Group increased their price objective on shares of Barrick Gold from $22.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, April 11th. 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. Finally, National Bank Financial raised shares of Barrick Gold to a “hold” rating in a research report on Friday, March 21st. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.21.

Barrick Gold Stock Performance

Shares of GOLD opened at $20.66 on Thursday. The firm has a fifty day moving average of $18.69 and a 200-day moving average of $17.94. The company has a market cap of $35.52 billion, a price-to-earnings ratio of 16.80, a price-to-earnings-growth ratio of 0.44 and a beta of 0.55. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.15 and a current ratio of 2.89. Barrick Gold Corp has a 1 year low of $15.11 and a 1 year high of $21.35.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its 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%. As a group, equities analysts anticipate that Barrick Gold Corp will post 1.47 earnings per share for the current year.

Barrick Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were given a dividend of $0.10 per share. 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 1.94%. Barrick Gold’s dividend payout ratio (DPR) is presently 32.52%.

Barrick Gold announced that its Board of Directors has authorized a share repurchase plan 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 purchase up to 3.2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership 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.