StoneX Group Inc. Purchases 3,194 Shares of Barrick Gold Corp (NYSE:GOLD)

StoneX Group Inc. grew its position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 16.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 23,141 shares of the gold and copper producer’s stock after acquiring an additional 3,194 shares during the quarter. StoneX Group Inc.’s holdings in Barrick Gold were worth $359,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of GOLD. Principal Financial Group Inc. lifted its position in Barrick Gold by 19.9% during the third 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 during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Barrick Gold by 2.6% in the 4th 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 acquiring an additional 128,203 shares during the last quarter. Crocodile Capital Partners GmbH grew its position in Barrick Gold by 97.3% in the fourth quarter. Crocodile Capital Partners GmbH now owns 1,460,000 shares of the gold and copper producer’s stock worth $22,630,000 after acquiring an additional 720,000 shares in the last quarter. Chiron Investment Management LLC increased its stake in Barrick Gold by 36.5% during the third quarter. Chiron Investment Management LLC now owns 604,199 shares of the gold and copper producer’s stock worth $12,018,000 after acquiring an additional 161,688 shares during the last quarter. Finally, Legend Financial Advisors Inc. purchased a new stake in Barrick Gold during the fourth quarter valued at approximately $700,000. 62.85% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on GOLD shares. TD Securities cut their target price 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. Bank of America downgraded shares of Barrick Gold from a “buy” rating to a “neutral” rating and reduced their target price for the company from $21.00 to $18.00 in a research note on Monday, January 27th. UBS Group raised shares of Barrick Gold from a “neutral” rating to a “buy” rating and set a $22.00 price target for the company in a research note on Wednesday, March 5th. Scotiabank increased their price objective on shares of Barrick Gold from $19.00 to $20.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 18th. Finally, Stifel Canada upgraded Barrick Gold to a “strong-buy” rating in a research report on Wednesday, March 19th. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $23.71.

Barrick Gold Trading Down 1.3 %

Shares of NYSE GOLD opened at $19.41 on Thursday. Barrick Gold Corp has a twelve month low of $15.11 and a twelve month high of $21.35. The firm has a market cap of $33.49 billion, a PE ratio of 15.78, a price-to-earnings-growth ratio of 0.44 and a beta of 0.58. The business has a fifty day simple moving average of $18.07 and a two-hundred day simple moving average of $18.02. 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 (NYSE:GOLD) (TSE:ABX) last released its quarterly earnings data on Wednesday, February 12th. The gold and copper producer reported $0.46 earnings per share for the quarter, meeting the consensus estimate of $0.46. Barrick Gold had a return on equity of 6.76% and a net margin of 16.59%. Analysts expect that Barrick Gold Corp will post 1.47 earnings per share for the current fiscal year.

Barrick Gold announced that its board has authorized a share repurchase program on Wednesday, February 12th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the gold and copper producer to reacquire up to 3.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Barrick Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.06%. Barrick Gold’s dividend payout ratio is presently 32.52%.

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.