Two Sigma Advisers LP Has $60.07 Million Position in Barrick Gold Corp (NYSE:B)

Two Sigma Advisers LP raised its stake in shares of Barrick Gold Corp (NYSE:B) (TSE:ABX) by 7.4% in the fourth quarter, Holdings Channel reports. The fund owned 3,875,500 shares of the gold and copper producer’s stock after acquiring an additional 266,900 shares during the period. Two Sigma Advisers LP’s holdings in Barrick Gold were worth $60,070,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Two Sigma Investments LP grew its holdings in shares of Barrick Gold by 5.6% during the fourth quarter. Two Sigma Investments LP now owns 2,700,606 shares of the gold and copper producer’s stock worth $41,859,000 after purchasing an additional 142,697 shares during the last quarter. State of Wyoming lifted its position in shares of Barrick Gold by 50.1% during the fourth quarter. State of Wyoming now owns 41,102 shares of the gold and copper producer’s stock worth $637,000 after purchasing an additional 13,714 shares in the last quarter. Toronto Dominion Bank grew its stake in shares of Barrick Gold by 26.5% during the fourth quarter. Toronto Dominion Bank now owns 7,635,073 shares of the gold and copper producer’s stock valued at $118,269,000 after purchasing an additional 1,599,259 shares during the last quarter. Recurrent Investment Advisors LLC raised its position in Barrick Gold by 102.7% in the 4th quarter. Recurrent Investment Advisors LLC now owns 137,861 shares of the gold and copper producer’s stock worth $2,137,000 after purchasing an additional 69,852 shares during the last quarter. Finally, Nan Shan Life Insurance Co. Ltd. lifted its holdings in Barrick Gold by 9,389.9% during the 4th quarter. Nan Shan Life Insurance Co. Ltd. now owns 2,776,645 shares of the gold and copper producer’s stock worth $43,038,000 after buying an additional 2,747,386 shares in the last quarter. Institutional investors and hedge funds own 90.82% of the company’s stock.

Analyst Upgrades and Downgrades

B has been the subject of a number of research reports. Royal Bank of Canada lifted their price objective on Barrick Gold from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Friday, April 4th. Citigroup lowered their target price on shares of Barrick Gold from $21.00 to $17.00 and set a “neutral” rating for the company in a report on Monday, March 31st. Scotiabank upped their target price on shares of Barrick Gold from $20.00 to $22.00 and gave the company a “sector perform” rating in a research report on Monday, April 14th. Stifel Canada upgraded Barrick Gold to a “strong-buy” rating in a research report on Wednesday, March 19th. Finally, Raymond James lifted their price objective on Barrick Gold from $23.00 to $23.50 and gave the stock an “outperform” rating in a research note on Monday, March 31st. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $24.05.

Barrick Gold Stock Up 2.0%

NYSE:B opened at $18.19 on Tuesday. The stock has a market cap of $31.28 billion, a price-to-earnings ratio of 14.79, a PEG ratio of 0.44 and a beta of 0.25. The company has a current ratio of 2.89, a quick ratio of 2.15 and a debt-to-equity ratio of 0.14. The stock has a 50-day moving average price of $19.04 and a two-hundred day moving average price of $17.72. Barrick Gold Corp has a 1 year low of $17.41 and a 1 year high of $47.50.

Barrick Gold (NYSE:B) (TSE:ABX) last posted its earnings results on Wednesday, May 7th. The gold and copper producer reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.06. The business had revenue of $3 billion during the quarter, compared to analysts’ expectations of $3.15 billion. Barrick Gold had a return on equity of 6.76% and a net margin of 16.59%. Barrick Gold’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.19 EPS. As a group, equities analysts expect that Barrick Gold Corp will post 1.47 earnings per share for the current year.

Barrick Gold declared that its board has initiated a share buyback program on Wednesday, February 12th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the gold and copper producer to reacquire up to 3.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Barrick Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.20%. Barrick Gold’s payout ratio is 30.08%.

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.