Barrick Gold Corp (NYSE:GOLD) Stock Holdings Boosted by RWC Asset Management LLP

RWC Asset Management LLP increased its holdings in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 14.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,254,263 shares of the gold and copper producer’s stock after purchasing an additional 409,677 shares during the quarter. Barrick Gold makes up approximately 2.5% of RWC Asset Management LLP’s holdings, making the stock its 4th largest holding. RWC Asset Management LLP owned about 0.19% of Barrick Gold worth $50,441,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Creative Planning increased its position in Barrick Gold by 6.4% during the 3rd quarter. Creative Planning now owns 115,395 shares of the gold and copper producer’s stock valued at $2,295,000 after purchasing an additional 6,902 shares during the period. Sequoia Financial Advisors LLC boosted its stake in shares of Barrick Gold by 8.3% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 15,465 shares of the gold and copper producer’s stock valued at $308,000 after purchasing an additional 1,181 shares in the last quarter. Eastern Bank purchased a new position in shares of Barrick Gold during the third quarter valued at about $32,000. International Assets Investment Management LLC raised its stake in Barrick Gold by 1,847.2% in the third quarter. International Assets Investment Management LLC now owns 430,459 shares of the gold and copper producer’s stock worth $85,620,000 after buying an additional 408,352 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in Barrick Gold by 458.1% in the third quarter. Assenagon Asset Management S.A. now owns 108,148 shares of the gold and copper producer’s stock worth $2,151,000 after buying an additional 88,770 shares during the period. Hedge funds and other institutional investors own 62.85% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on GOLD shares. UBS Group downgraded Barrick Gold from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $23.00 to $22.00 in a report on Wednesday, October 30th. Berenberg Bank upped their price target on Barrick Gold from $37.00 to $38.00 in a research note on Tuesday, November 26th. Raymond James lowered their price objective 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. CIBC lowered shares of Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research note on Monday, November 25th. Finally, Bank of America lowered shares of Barrick Gold from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $21.00 to $18.00 in a research note on Monday, January 27th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $23.75.

Barrick Gold Trading Down 2.7 %

Shares of NYSE:GOLD opened at $18.31 on Monday. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.89 and a quick ratio of 2.15. Barrick Gold Corp has a 1 year low of $14.27 and a 1 year high of $21.35. The company has a market cap of $31.61 billion, a P/E ratio of 14.88, a PEG ratio of 0.44 and a beta of 0.55. The stock’s fifty day moving average price is $16.38 and its 200-day moving average price is $18.20.

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 (EPS) 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%. Sell-side analysts expect that Barrick Gold Corp will post 1.47 earnings per share for the current year.

Barrick Gold Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.19%. The ex-dividend date is Friday, February 28th. Barrick Gold’s dividend payout ratio is currently 32.52%.

Barrick Gold declared that its board 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 purchase up to 3.2% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are 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.