Barrick Gold Corp (NYSE:GOLD) Shares Acquired by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. increased its holdings in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 53.2% in the 4th quarter, HoldingsChannel reports. The firm owned 61,017 shares of the gold and copper producer’s stock after acquiring an additional 21,194 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Barrick Gold were worth $1,104,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Everpar Advisors LLC acquired a new stake in Barrick Gold during the fourth quarter valued at $811,000. Private Advisor Group LLC increased its stake in shares of Barrick Gold by 32.0% in the 4th quarter. Private Advisor Group LLC now owns 224,293 shares of the gold and copper producer’s stock valued at $4,057,000 after purchasing an additional 54,356 shares in the last quarter. Metis Global Partners LLC raised its holdings in Barrick Gold by 11.1% in the 4th quarter. Metis Global Partners LLC now owns 108,762 shares of the gold and copper producer’s stock worth $1,965,000 after purchasing an additional 10,833 shares during the period. National Bank of Canada FI boosted its position in Barrick Gold by 7.4% during the fourth quarter. National Bank of Canada FI now owns 13,656,472 shares of the gold and copper producer’s stock worth $244,133,000 after purchasing an additional 945,219 shares in the last quarter. Finally, Sapient Capital LLC acquired a new stake in Barrick Gold in the fourth quarter valued at approximately $2,213,000. 62.85% of the stock is currently owned by institutional investors and hedge funds.

Barrick Gold Stock Performance

NYSE:GOLD opened at $17.25 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.49 and a current ratio of 3.32. The company has a 50 day moving average price of $16.47 and a 200 day moving average price of $16.35. Barrick Gold Corp has a fifty-two week low of $13.76 and a fifty-two week high of $19.65. The stock has a market capitalization of $30.28 billion, a P/E ratio of 20.77, a PEG ratio of 1.44 and a beta of 0.59.

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

Barrick Gold Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, May 31st will be paid a dividend of $0.10 per share. This is an increase from Barrick Gold’s previous quarterly dividend of $0.07. This represents a $0.40 annualized dividend and a yield of 2.32%. The ex-dividend date is Friday, May 31st. Barrick Gold’s dividend payout ratio is presently 48.78%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $18.00 target price on shares of Barrick Gold in a research report on Monday, March 4th. Raymond James decreased their price target on shares of Barrick Gold from $24.00 to $23.00 and set an “outperform” rating on the stock in a research note on Thursday, February 15th. TD Securities dropped their price objective on shares of Barrick Gold from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Friday, February 16th. Jefferies Financial Group began coverage on shares of Barrick Gold in a research note on Thursday, February 29th. They issued a “buy” rating and a $21.00 target price on the stock. Finally, Argus reaffirmed a “hold” rating on shares of Barrick Gold in a report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Barrick Gold presently has a consensus rating of “Moderate Buy” and an average target price of $21.60.

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.