Hsbc Holdings PLC Has $70.63 Million Stake in Barrick Gold Corp (NYSE:GOLD)

Hsbc Holdings PLC increased its stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 41.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,558,410 shares of the gold and copper producer’s stock after purchasing an additional 1,329,214 shares during the period. Hsbc Holdings PLC’s holdings in Barrick Gold were worth $70,631,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in GOLD. Principal Financial Group Inc. raised its holdings in shares of Barrick Gold by 19.9% in the third 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. Charles Schwab Investment Management Inc. grew its position in Barrick Gold by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,073,717 shares of the gold and copper producer’s stock valued at $78,637,000 after purchasing an additional 128,203 shares in the last quarter. Crocodile Capital Partners GmbH increased its stake in Barrick Gold by 97.3% in the 4th quarter. Crocodile Capital Partners GmbH now owns 1,460,000 shares of the gold and copper producer’s stock valued at $22,630,000 after buying an additional 720,000 shares during the last quarter. Legend Financial Advisors Inc. bought a new stake in Barrick Gold during the 4th quarter worth about $700,000. Finally, Gateway Investment Advisers LLC boosted its stake in shares of Barrick Gold by 6.9% during the 4th quarter. Gateway Investment Advisers LLC now owns 278,717 shares of the gold and copper producer’s stock worth $4,320,000 after buying an additional 17,980 shares during the last quarter. Institutional investors own 62.85% of the company’s stock.

Barrick Gold Stock Up 1.9 %

Barrick Gold stock opened at $19.42 on Friday. The company’s 50-day moving average price is $18.93 and its two-hundred day moving average price is $17.93. The company has a quick ratio of 2.15, a current ratio of 2.89 and a debt-to-equity ratio of 0.14. The stock has a market cap of $33.39 billion, a P/E ratio of 15.79, a P/E/G ratio of 0.44 and a beta of 0.55. Barrick Gold Corp has a twelve month low of $15.11 and a twelve month high of $21.35.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced 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%. As a group, analysts expect that Barrick Gold Corp will post 1.47 EPS for the current year.

Barrick Gold Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were given a $0.10 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.06%. Barrick Gold’s payout ratio is presently 32.52%.

Barrick Gold announced that its Board of Directors has authorized a stock repurchase program on Wednesday, February 12th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the gold and copper producer to buy up to 3.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. BMO Capital Markets initiated coverage on Barrick Gold in a report on Wednesday, April 16th. They set a “market perform” rating on the stock. TD Securities dropped 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. Citigroup decreased their target price on shares of Barrick Gold from $21.00 to $17.00 and set a “neutral” rating for the company in a research note on Monday, March 31st. National Bankshares reaffirmed an “outperform” rating on shares of Barrick Gold in a research report on Wednesday, April 2nd. Finally, StockNews.com upgraded shares of Barrick Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 5th. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.05.

About Barrick Gold

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.