Quantbot Technologies LP Invests $4.20 Million in Barrick Gold Corp (NYSE:GOLD)

Quantbot Technologies LP bought a new position in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 271,195 shares of the gold and copper producer’s stock, valued at approximately $4,204,000.

Other institutional investors have also modified their holdings of the company. Van ECK Associates Corp lifted its position in Barrick Gold by 2.1% during the fourth quarter. Van ECK Associates Corp now owns 76,299,834 shares of the gold and copper producer’s stock valued at $1,182,641,000 after acquiring an additional 1,563,361 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Barrick Gold by 2.7% in the third quarter. Wellington Management Group LLP now owns 54,712,508 shares of the gold and copper producer’s stock valued at $1,088,484,000 after purchasing an additional 1,458,084 shares during the period. Amundi raised its position in Barrick Gold by 1.7% during the 4th quarter. Amundi now owns 14,120,278 shares of the gold and copper producer’s stock worth $223,665,000 after buying an additional 236,116 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Barrick Gold by 33.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 11,431,497 shares of the gold and copper producer’s stock valued at $227,524,000 after buying an additional 2,854,055 shares during the period. Finally, Ruffer LLP grew its holdings in Barrick Gold by 14.8% during the fourth quarter. Ruffer LLP now owns 10,269,848 shares of the gold and copper producer’s stock worth $159,180,000 after acquiring an additional 1,325,119 shares during the period. 62.85% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GOLD has been the topic of several recent research reports. Citigroup lowered their price objective on Barrick Gold from $23.00 to $17.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th. CIBC lowered shares of Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research report on Monday, November 25th. TD Securities decreased their price objective on shares of Barrick Gold from $24.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. UBS Group upgraded Barrick Gold from a “neutral” rating to a “buy” rating and set a $22.00 target price on the stock in a research report on Wednesday, March 5th. Finally, Berenberg Bank lifted their price target on Barrick Gold from $37.00 to $38.00 in a research note on Tuesday, November 26th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Barrick Gold has a consensus rating of “Moderate Buy” and an average price target of $23.75.

Barrick Gold Trading Up 0.4 %

Shares of GOLD opened at $18.80 on Friday. The firm’s fifty day moving average is $17.15 and its two-hundred day moving average is $18.09. The stock has a market cap of $32.46 billion, a PE ratio of 15.28, a price-to-earnings-growth ratio of 0.44 and a beta of 0.58. The company has a quick ratio of 2.15, a current ratio of 2.89 and a debt-to-equity ratio of 0.14. Barrick Gold Corp has a 52-week low of $0.25 and a 52-week high of $21.35.

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

Barrick Gold declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, February 12th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the gold and copper producer to buy up to 3.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Barrick Gold Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.13%. The ex-dividend date is Friday, February 28th. Barrick Gold’s payout ratio is currently 32.52%.

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.