62,537 Shares in Barrick Gold Corp (NYSE:GOLD) Acquired by Bcwm LLC

Bcwm LLC purchased a new stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 62,537 shares of the gold and copper producer’s stock, valued at approximately $969,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. CIBC Private Wealth Group LLC boosted its stake in Barrick Gold by 6.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 18,984 shares of the gold and copper producer’s stock valued at $301,000 after acquiring an additional 1,220 shares in the last quarter. Oaktree Fund Advisors LLC acquired a new position in Barrick Gold in the fourth quarter valued at $1,055,000. Oaktree Capital Management LP purchased a new stake in shares of Barrick Gold in the fourth quarter valued at about $15,733,000. Allianz SE acquired a new stake in shares of Barrick Gold during the fourth quarter worth about $33,726,000. Finally, Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. purchased a new position in shares of Barrick Gold during the fourth quarter worth about $5,661,000. Institutional investors and hedge funds own 62.85% of the company’s stock.

Barrick Gold Stock Performance

Shares of GOLD stock opened at $19.11 on Friday. The stock has a fifty day moving average price of $17.85 and a 200 day moving average price of $18.04. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.15 and a current ratio of 2.89. The stock has a market cap of $32.97 billion, a PE ratio of 15.53, a P/E/G ratio of 0.44 and a beta of 0.58. Barrick Gold Corp has a 1 year low of $15.11 and a 1 year high of $21.35.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its quarterly earnings results on Wednesday, February 12th. The gold and copper producer reported $0.46 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.46. Barrick Gold had a return on equity of 6.76% and a net margin of 16.59%. Sell-side analysts forecast that Barrick Gold Corp will post 1.47 earnings per share for the current fiscal year.

Barrick Gold Dividend Announcement

The firm also recently declared 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 annualized dividend and a dividend yield of 2.09%. Barrick Gold’s dividend payout ratio is presently 32.52%.

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

Analyst Ratings Changes

GOLD has been the subject of a number of recent research reports. Scotiabank increased their price objective on Barrick Gold from $19.00 to $20.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 18th. Bank of America downgraded Barrick Gold from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $21.00 to $18.00 in a report on Monday, January 27th. Raymond James dropped their price objective on shares of Barrick Gold from $25.00 to $24.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. Citigroup cut their price objective on shares of 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, National Bank Financial raised shares of Barrick Gold to a “hold” rating in a report on Friday, March 21st. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Barrick Gold has a consensus rating of “Moderate Buy” and an average target price 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.