Lee Danner & Bass Inc. Makes New Investment in Barrick Gold Corp (NYSE:GOLD)

Lee Danner & Bass Inc. purchased a new position in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) in the fourth quarter, Holdings Channel.com reports. The firm purchased 7,789 shares of the gold and copper producer’s stock, valued at approximately $121,000.

Other institutional investors have also bought and sold shares of the company. First Horizon Advisors Inc. increased its stake in Barrick Gold by 619.7% in the 4th quarter. First Horizon Advisors Inc. now owns 3,073 shares of the gold and copper producer’s stock worth $48,000 after buying an additional 2,646 shares in the last quarter. BNP Paribas increased its stake in Barrick Gold by 221.7% in the 3rd quarter. BNP Paribas now owns 3,066 shares of the gold and copper producer’s stock worth $62,000 after buying an additional 2,113 shares in the last quarter. Exchange Traded Concepts LLC increased its stake in Barrick Gold by 196.9% in the 4th quarter. Exchange Traded Concepts LLC now owns 4,178 shares of the gold and copper producer’s stock worth $65,000 after buying an additional 2,771 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new position in shares of Barrick Gold during the fourth quarter valued at about $65,000. Finally, Avior Wealth Management LLC grew its position in shares of Barrick Gold by 24.1% during the third quarter. Avior Wealth Management LLC now owns 3,399 shares of the gold and copper producer’s stock valued at $68,000 after purchasing an additional 659 shares in the last quarter. Hedge funds and other institutional investors own 62.85% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on GOLD. Berenberg Bank raised their price objective on Barrick Gold from $37.00 to $38.00 in a research report on Tuesday, November 26th. Raymond James cut 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. Citigroup cut their price objective 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. Stifel Canada upgraded Barrick Gold to a “strong-buy” rating in a research report on Wednesday. Finally, CIBC lowered Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research report on Monday, November 25th. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Barrick Gold has a consensus rating of “Moderate Buy” and an average target price of $23.75.

Barrick Gold Stock Down 2.2 %

Shares of NYSE GOLD opened at $18.86 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.89 and a quick ratio of 2.15. The company has a market cap of $32.54 billion, a P/E ratio of 15.33, a PEG ratio of 0.44 and a beta of 0.58. Barrick Gold Corp has a 1 year low of $0.25 and a 1 year high of $21.35. The firm has a 50-day simple moving average of $17.50 and a two-hundred day simple moving average of $18.05.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its quarterly earnings data 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 net margin of 16.59% and a return on equity of 6.76%. Research analysts anticipate 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 was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend was Friday, February 28th. Barrick Gold’s dividend payout ratio (DPR) is presently 32.52%.

Barrick Gold declared that its Board of Directors has approved a share buyback program on Wednesday, February 12th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the gold and copper producer to repurchase up to 3.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board 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.