Ninety One UK Ltd Purchases 1,870,059 Shares of Barrick Gold Corp (NYSE:GOLD)

Ninety One UK Ltd lifted its position in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 13.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,022,022 shares of the gold and copper producer’s stock after acquiring an additional 1,870,059 shares during the quarter. Ninety One UK Ltd’s holdings in Barrick Gold were worth $289,838,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Fairfield Bush & CO. bought a new stake in shares of Barrick Gold in the 2nd quarter worth $29,000. Bruce G. Allen Investments LLC bought a new stake in shares of Barrick Gold in the 4th quarter worth $35,000. Resurgent Financial Advisors LLC bought a new stake in shares of Barrick Gold in the 4th quarter worth $36,000. FWL Investment Management LLC bought a new stake in shares of Barrick Gold in the 4th quarter worth $36,000. Finally, Chilton Capital Management LLC bought a new stake in shares of Barrick Gold in the 1st quarter worth $37,000. Institutional investors own 62.85% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on GOLD. Argus restated a “hold” rating on shares of Barrick Gold in a research report on Monday, February 26th. Raymond James reduced their price target on shares of Barrick Gold from $24.00 to $23.00 and set an “outperform” rating for the company in a research report on Thursday, February 15th. TD Securities reduced their price target on shares of Barrick Gold from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Friday, February 16th. National Bank Financial restated a “sector perform overweight” rating on shares of Barrick Gold in a research report on Monday, April 8th. Finally, Sanford C. Bernstein lowered shares of Barrick Gold from an “outperform” rating to a “market perform” rating in a research report on Monday, January 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Barrick Gold presently has an average rating of “Moderate Buy” and a consensus target price of $22.18.

Barrick Gold Stock Performance

NYSE GOLD traded up $0.27 during trading on Thursday, hitting $16.97. 10,974,175 shares of the company’s stock traded hands, compared to its average volume of 22,562,992. The stock has a market capitalization of $29.79 billion, a price-to-earnings ratio of 23.19, a PEG ratio of 1.50 and a beta of 0.58. Barrick Gold Corp has a 12-month low of $13.76 and a 12-month high of $20.75. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.40 and a current ratio of 3.16. The business has a 50 day moving average of $15.82 and a 200-day moving average of $16.20.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its quarterly earnings results on Wednesday, February 14th. The gold and copper producer reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.06. Barrick Gold had a net margin of 11.16% and a return on equity of 4.64%. The firm had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same period in the prior year, the firm posted $0.13 earnings per share. As a group, equities research analysts anticipate that Barrick Gold Corp will post 0.91 earnings per share for the current fiscal year.

Barrick Gold Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a $0.074 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend was Wednesday, February 28th. Barrick Gold’s payout ratio is 55.56%.

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.