Metis Global Partners LLC Buys 10,833 Shares of Barrick Gold Corp (NYSE:GOLD)

Metis Global Partners LLC raised its position in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 11.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 108,762 shares of the gold and copper producer’s stock after buying an additional 10,833 shares during the quarter. Metis Global Partners LLC’s holdings in Barrick Gold were worth $1,965,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in GOLD. Bruce G. Allen Investments LLC acquired a new position in Barrick Gold in the fourth quarter valued at approximately $35,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Barrick Gold during the 4th quarter valued at $61,000. Cary Street Partners Investment Advisory LLC boosted its position in shares of Barrick Gold by 41.1% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 3,919 shares of the gold and copper producer’s stock worth $57,000 after purchasing an additional 1,142 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Barrick Gold during the third quarter worth $75,000. Finally, Fifth Third Bancorp increased its holdings in Barrick Gold by 13.1% in the third quarter. Fifth Third Bancorp now owns 6,067 shares of the gold and copper producer’s stock valued at $88,000 after purchasing an additional 702 shares during the last quarter. 62.85% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Scotiabank decreased their target price on Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating for the company in a research report on Tuesday, February 20th. StockNews.com upgraded Barrick Gold from a “hold” rating to a “buy” rating in a report on Wednesday, February 21st. TD Securities lowered their target price on Barrick Gold from $22.00 to $21.00 and set a “buy” rating for the company in a report on Friday, February 16th. BMO Capital Markets decreased their price objective on Barrick Gold from $27.00 to $26.00 and set an “outperform” rating for the company in a report on Wednesday, April 17th. Finally, Argus restated a “hold” rating on shares of Barrick Gold in a report on Monday, February 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Barrick Gold presently has a consensus rating of “Moderate Buy” and an average price target of $21.60.

Barrick Gold Trading Up 0.5 %

Barrick Gold stock opened at $16.76 on Wednesday. The stock has a 50-day simple moving average of $16.43 and a 200 day simple moving average of $16.35. The stock has a market capitalization of $29.42 billion, a P/E ratio of 20.44, a PEG ratio of 1.44 and a beta of 0.59. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.49 and a current ratio of 3.32. Barrick Gold Corp has a 52 week low of $13.76 and a 52 week high of $20.26.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its earnings results on Wednesday, May 1st. The gold and copper producer reported $0.19 EPS for the quarter, topping the consensus estimate of $0.15 by $0.04. Barrick Gold had a return on equity of 4.88% and a net margin of 12.58%. The company had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.74 billion. During the same period in the previous year, the company posted $0.14 EPS. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. Analysts expect that Barrick Gold Corp will post 0.95 earnings per share for the current year.

Barrick Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be issued a $0.10 dividend. This is an increase from Barrick Gold’s previous quarterly dividend of $0.07. This represents a $0.40 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend is Friday, May 31st. Barrick Gold’s payout ratio is currently 48.78%.

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.