Moody National Bank Trust Division Buys New Shares in Barrick Gold Corp (NYSE:B)

Moody National Bank Trust Division purchased a new position in Barrick Gold Corp (NYSE:B) (TSE:ABX) in the first quarter, Holdings Channel.com reports. The firm purchased 10,331 shares of the gold and copper producer’s stock, valued at approximately $201,000.

A number of other institutional investors have also bought and sold shares of B. Crowley Wealth Management Inc. bought a new stake in shares of Barrick Gold during the fourth quarter valued at approximately $26,000. Vega Investment Solutions bought a new position in shares of Barrick Gold during the fourth quarter worth $31,000. Strategic Investment Solutions Inc. IL purchased a new position in Barrick Gold during the fourth quarter valued at $37,000. Ameriflex Group Inc. purchased a new position in Barrick Gold during the fourth quarter valued at $39,000. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in Barrick Gold by 55.8% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 2,193 shares of the gold and copper producer’s stock valued at $43,000 after acquiring an additional 785 shares during the last quarter. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Barrick Gold Price Performance

NYSE:B opened at $19.20 on Monday. The firm has a market capitalization of $33.01 billion, a price-to-earnings ratio of 15.61, a PEG ratio of 0.44 and a beta of 0.25. 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 business has a 50 day simple moving average of $19.01 and a 200-day simple moving average of $17.79. 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 issued its quarterly 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 company had revenue of $3 billion during the quarter, compared to the consensus estimate 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 was up 13.9% on a year-over-year basis. During the same period last year, the company earned $0.19 earnings per share. Equities analysts forecast that Barrick Gold Corp will post 1.47 EPS for the current year.

Barrick Gold declared that its board has approved a share repurchase plan on Wednesday, February 12th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the gold and copper producer to reacquire up to 3.2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

Barrick Gold Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be issued a $0.10 dividend. The ex-dividend date is Friday, May 30th. This represents a $0.40 annualized dividend and a dividend yield of 2.08%. Barrick Gold’s dividend payout ratio (DPR) is presently 30.08%.

Wall Street Analyst Weigh In

B has been the topic of several research analyst reports. Wall Street Zen started coverage on shares of Barrick Gold in a research note on Monday, May 12th. They issued a “sell” rating on the stock. TD Securities decreased their target price on Barrick Gold from $24.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Citigroup dropped their price target on 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 note on Wednesday, April 2nd. Finally, Stifel Canada raised Barrick Gold to a “strong-buy” rating in a report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Barrick Gold currently has a consensus rating of “Moderate Buy” and an average target price of $24.05.

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.