28,720 Shares in Barrick Gold Corp (NYSE:GOLD) Acquired by Parvin Asset Management LLC

Parvin Asset Management LLC purchased a new position in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 28,720 shares of the gold and copper producer’s stock, valued at approximately $445,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Crowley Wealth Management Inc. purchased a new stake in Barrick Gold during the fourth quarter worth $26,000. Strategic Investment Solutions Inc. IL purchased a new position in Barrick Gold in the fourth quarter valued at $37,000. 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 in the last quarter. Pingora Partners LLC increased its holdings in Barrick Gold by 250.0% in the fourth quarter. Pingora Partners LLC now owns 3,500 shares of the gold and copper producer’s stock valued at $54,000 after buying an additional 2,500 shares in the last quarter. Finally, Exchange Traded Concepts LLC increased its holdings in Barrick Gold by 196.9% in the fourth quarter. Exchange Traded Concepts LLC now owns 4,178 shares of the gold and copper producer’s stock valued at $65,000 after buying an additional 2,771 shares in the last quarter. Institutional investors and hedge funds own 62.85% of the company’s stock.

Barrick Gold Stock Down 2.1 %

Shares of NYSE GOLD opened at $18.89 on Wednesday. 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 market cap of $32.48 billion, a PE ratio of 15.36, a P/E/G ratio of 0.44 and a beta of 0.55. The company has a 50-day moving average of $18.96 and a 200 day moving average of $17.90. Barrick Gold Corp has a 12-month low of $15.11 and a 12-month 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 for the quarter, meeting the consensus estimate of $0.46. Barrick Gold had a net margin of 16.59% and a return on equity of 6.76%. As a group, sell-side analysts predict that Barrick Gold Corp will post 1.47 EPS for the current fiscal year.

Barrick Gold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were issued a $0.10 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.40 annualized dividend and a yield of 2.12%. Barrick Gold’s payout ratio is 32.52%.

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GOLD. TD Securities cut their price objective on shares of Barrick Gold from $24.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Stifel Canada raised shares of Barrick Gold to a “strong-buy” rating in a report on Wednesday, March 19th. StockNews.com raised shares of Barrick Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 5th. Citigroup cut 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. Finally, National Bankshares reissued an “outperform” rating on shares of Barrick Gold in a research note on Wednesday, April 2nd. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average 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.