Charles Schwab Investment Management Inc. grew its stake in shares of Barrick Gold Corp (NYSE:GOLD – Free Report) (TSE:ABX) by 2.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 5,073,717 shares of the gold and copper producer’s stock after acquiring an additional 128,203 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Barrick Gold were worth $78,637,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of GOLD. Janney Montgomery Scott LLC lifted its position in shares of Barrick Gold by 42.4% during the 3rd quarter. Janney Montgomery Scott LLC now owns 184,897 shares of the gold and copper producer’s stock valued at $3,678,000 after acquiring an additional 55,051 shares during the period. Concurrent Investment Advisors LLC acquired a new position in Barrick Gold in the 3rd quarter worth about $337,000. Principal Financial Group Inc. increased its holdings in Barrick Gold by 19.9% in the 3rd quarter. Principal Financial Group Inc. now owns 483,613 shares of the gold and copper producer’s stock worth $9,630,000 after purchasing an additional 80,366 shares in the last quarter. Mesirow Financial Investment Management Inc. increased its holdings in Barrick Gold by 5.7% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 29,475 shares of the gold and copper producer’s stock worth $586,000 after purchasing an additional 1,596 shares in the last quarter. Finally, Legacy Capital Wealth Partners LLC increased its holdings in Barrick Gold by 14.2% in the 3rd quarter. Legacy Capital Wealth Partners LLC now owns 25,176 shares of the gold and copper producer’s stock worth $501,000 after purchasing an additional 3,140 shares in the last quarter. 62.85% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of brokerages have issued reports on GOLD. Raymond James lowered their target price on Barrick Gold from $25.00 to $24.00 and set an “outperform” rating for the company in a 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 on the stock in a research report on Wednesday, March 5th. Berenberg Bank upped their price target on Barrick Gold from $37.00 to $38.00 in a research report on Tuesday, November 26th. TD Securities reduced their price target 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. Finally, Bank of America lowered Barrick Gold from a “buy” rating to a “neutral” rating and reduced their price target for the company from $21.00 to $18.00 in a research report on Monday, January 27th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $23.75.
Get Our Latest Report on Barrick Gold
Barrick Gold Stock Down 2.3 %
Shares of NYSE:GOLD opened at $18.17 on Tuesday. The business’s 50 day simple moving average is $16.92 and its two-hundred day simple moving average is $18.11. The firm has a market cap of $31.37 billion, a P/E ratio of 14.77, a PEG ratio of 0.44 and a beta of 0.58. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.15 and a current ratio of 2.89. Barrick Gold Corp has a 52-week low of $15.11 and a 52-week high of $21.35.
Barrick Gold (NYSE:GOLD – Get Free Report) (TSE:ABX) last announced 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%. As a group, research analysts forecast that Barrick Gold Corp will post 1.47 EPS for the current fiscal year.
Barrick Gold Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.20%. The ex-dividend date is Friday, February 28th. Barrick Gold’s dividend payout ratio (DPR) is presently 32.52%.
Barrick Gold announced that its Board of Directors has approved a stock repurchase program on Wednesday, February 12th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the gold and copper producer to purchase up to 3.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
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.
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