17,270 Shares in Barrick Gold Corp (NYSE:GOLD) Bought by Sava Infond d.o.o.

Sava Infond d.o.o. bought a new stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 17,270 shares of the gold and copper producer’s stock, valued at approximately $268,000.

Several other institutional investors also recently made changes to their positions in the stock. Principal Financial Group Inc. increased its stake 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 valued at $9,630,000 after purchasing an additional 80,366 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Barrick Gold by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,073,717 shares of the gold and copper producer’s stock valued at $78,637,000 after buying an additional 128,203 shares in the last quarter. Crocodile Capital Partners GmbH boosted its position in shares of Barrick Gold by 97.3% in the 4th quarter. Crocodile Capital Partners GmbH now owns 1,460,000 shares of the gold and copper producer’s stock worth $22,630,000 after buying an additional 720,000 shares in the last quarter. Chiron Investment Management LLC raised its position in shares of Barrick Gold by 36.5% during the 3rd quarter. Chiron Investment Management LLC now owns 604,199 shares of the gold and copper producer’s stock worth $12,018,000 after purchasing an additional 161,688 shares during the last quarter. Finally, Legend Financial Advisors Inc. purchased a new position in Barrick Gold in the 4th quarter valued at about $700,000. 62.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on GOLD shares. Raymond James lowered their price target on shares of Barrick Gold from $25.00 to $24.00 and set an “outperform” rating for the company in a report on Friday, February 7th. Stifel Canada upgraded Barrick Gold to a “strong-buy” rating in a report on Wednesday, March 19th. TD Securities decreased their price objective on Barrick Gold from $24.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Scotiabank lifted their price objective on Barrick Gold from $19.00 to $20.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 18th. Finally, Bank of America downgraded Barrick Gold from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $21.00 to $18.00 in a research report on Monday, January 27th. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Barrick Gold currently has a consensus rating of “Moderate Buy” and an average price target of $23.75.

Barrick Gold Stock Up 1.3 %

GOLD opened at $19.57 on Friday. 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 moving average price of $17.79 and a 200 day moving average price of $18.05. 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 company has a market cap of $33.76 billion, a PE ratio of 15.91, a price-to-earnings-growth ratio of 0.44 and a beta of 0.58.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its earnings results 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%. Sell-side analysts expect that Barrick Gold Corp will post 1.47 earnings per share for the current year.

Barrick Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date was Friday, February 28th. Barrick Gold’s dividend payout ratio is presently 32.52%.

Barrick Gold announced that its Board of Directors has approved a stock repurchase plan 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 purchase up to 3.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

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.