Barrick Gold Corp (NYSE:GOLD) Holdings Trimmed by Aigen Investment Management LP

Aigen Investment Management LP lowered its position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 20.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 78,526 shares of the gold and copper producer’s stock after selling 20,714 shares during the quarter. Aigen Investment Management LP’s holdings in Barrick Gold were worth $1,218,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. M&T Bank Corp boosted its stake in 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 valued at $718,000 after buying an additional 1,179 shares in the last quarter. Glass Wealth Management Co LLC boosted its stake in Barrick Gold by 3.1% during the fourth quarter. Glass Wealth Management Co LLC now owns 189,860 shares of the gold and copper producer’s stock valued at $2,943,000 after buying an additional 5,630 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Barrick Gold by 2.6% during 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 buying an additional 128,203 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its stake in Barrick Gold by 66.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 60,620 shares of the gold and copper producer’s stock valued at $940,000 after buying an additional 24,176 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Barrick Gold in the 4th quarter valued at $2,323,000. Institutional investors own 62.85% of the company’s stock.

Barrick Gold Stock Up 4.0 %

Shares of Barrick Gold stock opened at $18.45 on Thursday. Barrick Gold Corp has a 1 year low of $15.11 and a 1 year high of $21.35. The stock has a 50-day moving average price of $16.75 and a 200 day moving average price of $18.16. 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 company has a market cap of $31.86 billion, a P/E ratio of 15.00, a P/E/G ratio of 0.44 and a beta of 0.55.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its quarterly 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 fiscal year.

Barrick Gold announced that its board has authorized 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 repurchase up to 3.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Barrick Gold Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend is Friday, February 28th. Barrick Gold’s dividend payout ratio (DPR) is presently 32.52%.

Analysts Set New Price Targets

A number of research firms recently weighed in on GOLD. Raymond James decreased their price target on Barrick Gold from $25.00 to $24.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. UBS Group upgraded Barrick Gold from a “neutral” rating to a “buy” rating and set a $22.00 price target for the company in a research report on Wednesday. Scotiabank increased their price target on Barrick Gold from $19.00 to $20.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 18th. Citigroup decreased their price target on Barrick Gold from $23.00 to $17.00 and set a “neutral” rating for the company in a research report on Friday, December 20th. Finally, Bank of America lowered Barrick Gold from a “buy” rating to a “neutral” rating and decreased their price target for the company from $21.00 to $18.00 in a research report on Monday, January 27th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $23.75.

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.