36,112 Shares in Barrick Gold Corp (NYSE:GOLD) Bought by Bay Capital Advisors LLC

Bay Capital Advisors LLC bought a new position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 36,112 shares of the gold and copper producer’s stock, valued at approximately $560,000.

Several other hedge funds have also bought and sold shares of GOLD. Principal Financial Group Inc. lifted its stake 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 worth $9,630,000 after purchasing an additional 80,366 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in 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 worth $78,637,000 after buying an additional 128,203 shares during the last quarter. Crocodile Capital Partners GmbH boosted its stake 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 buying an additional 720,000 shares in the last quarter. Chiron Investment Management LLC grew its position 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 valued at $12,018,000 after acquiring an additional 161,688 shares during the last quarter. Finally, Legend Financial Advisors Inc. purchased a new position in shares of Barrick Gold during the fourth quarter worth approximately $700,000. 62.85% of the stock is currently owned by institutional investors.

Barrick Gold Trading Up 0.2 %

NYSE:GOLD opened at $18.91 on Tuesday. The company has a 50-day moving average price of $17.57 and a 200-day moving average price of $18.03. The stock has a market cap of $32.62 billion, a price-to-earnings ratio of 15.37, a P/E/G ratio of 0.44 and a beta of 0.58. The company has a current ratio of 2.89, a quick ratio of 2.15 and a debt-to-equity ratio of 0.14. Barrick Gold Corp has a 12 month low of $0.25 and a 12 month high of $21.35.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted 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%. Equities analysts predict that Barrick Gold Corp will post 1.47 EPS for the current year.

Barrick Gold declared that its Board of Directors has initiated a share repurchase plan on Wednesday, February 12th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the gold and copper producer to repurchase up to 3.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Barrick Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend was Friday, February 28th. Barrick Gold’s dividend payout ratio is currently 32.52%.

Analysts Set New Price Targets

Several research firms recently commented on GOLD. Citigroup reduced their target price on shares of Barrick Gold from $23.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday, December 20th. TD Securities reduced their price objective on Barrick Gold from $24.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Stifel Canada raised Barrick Gold to a “strong-buy” rating in a research note on Wednesday, March 19th. CIBC lowered Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research report on Monday, November 25th. Finally, UBS Group raised Barrick Gold from a “neutral” rating to a “buy” rating and set a $22.00 price target on the stock in a research note on Wednesday, March 5th. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $23.75.

Barrick Gold 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.