TCW Group Inc. Acquires New Stake in Barrick Gold Corp (NYSE:GOLD)

TCW Group Inc. bought a new position in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 200,345 shares of the gold and copper producer’s stock, valued at approximately $3,624,000.

A number of other institutional investors have also recently modified their holdings of the stock. Principal Securities Inc. purchased a new stake in Barrick Gold during the 4th quarter valued at about $26,000. EverSource Wealth Advisors LLC increased its position in shares of Barrick Gold by 175.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,794 shares of the gold and copper producer’s stock valued at $32,000 after acquiring an additional 1,143 shares in the last quarter. Bruce G. Allen Investments LLC purchased a new position in Barrick Gold in the 4th quarter worth approximately $35,000. Mark Sheptoff Financial Planning LLC bought a new position in Barrick Gold in the 4th quarter valued at approximately $45,000. Finally, E Fund Management Hong Kong Co. Ltd. bought a new position in Barrick Gold in the 4th quarter valued at approximately $61,000. 62.85% of the stock is owned by hedge funds and other institutional investors.

Barrick Gold Stock Performance

NYSE GOLD traded up $0.08 on Friday, reaching $17.02. 13,893,145 shares of the stock were exchanged, compared to its average volume of 18,837,078. The company has a current ratio of 3.32, a quick ratio of 2.49 and a debt-to-equity ratio of 0.15. Barrick Gold Corp has a one year low of $13.76 and a one year high of $18.95. The firm has a market capitalization of $29.88 billion, a PE ratio of 20.76, a PEG ratio of 0.43 and a beta of 0.59. The company’s 50-day simple moving average is $16.89 and its two-hundred day simple moving average is $16.44.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its earnings results on Wednesday, May 1st. The gold and copper producer reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.04. Barrick Gold had a net margin of 12.58% and a return on equity of 4.88%. The company had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.74 billion. During the same quarter in the previous year, the company earned $0.14 EPS. Barrick Gold’s revenue for the quarter was up 3.9% on a year-over-year basis. Analysts expect that Barrick Gold Corp will post 1.02 EPS for the current fiscal year.

Barrick Gold Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, May 31st will be issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, May 31st. This is a boost from Barrick Gold’s previous quarterly dividend of $0.07. This represents a $0.40 dividend on an annualized basis and a yield of 2.35%. Barrick Gold’s payout ratio is currently 48.78%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GOLD. StockNews.com upgraded Barrick Gold from a “hold” rating to a “buy” rating in a report on Wednesday, February 21st. BMO Capital Markets lowered their price objective on shares of Barrick Gold from $27.00 to $26.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 17th. Argus restated a “hold” rating on shares of Barrick Gold in a report on Monday, February 26th. Scotiabank decreased their target price on shares of Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating for the company in a research note on Tuesday, February 20th. Finally, Jefferies Financial Group assumed coverage on Barrick Gold in a research note on Thursday, February 29th. They issued a “buy” rating and a $21.00 price target on the stock. One research 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’s stock. According to data from MarketBeat.com, Barrick Gold presently has an average 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.