Mesirow Financial Investment Management Inc. Has $473,000 Position in Barrick Gold Corp (NYSE:GOLD)

Mesirow Financial Investment Management Inc. raised its position in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 3.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,510 shares of the gold and copper producer’s stock after acquiring an additional 1,035 shares during the quarter. Mesirow Financial Investment Management Inc.’s holdings in Barrick Gold were worth $473,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of GOLD. Janney Montgomery Scott LLC raised its position in shares of Barrick Gold by 42.4% in the third quarter. Janney Montgomery Scott LLC now owns 184,897 shares of the gold and copper producer’s stock valued at $3,678,000 after purchasing an additional 55,051 shares during the period. Concurrent Investment Advisors LLC bought a new position in shares of Barrick Gold in the third quarter valued at about $337,000. Principal Financial Group Inc. raised its position in shares of Barrick Gold by 19.9% in the third quarter. Principal Financial Group Inc. now owns 483,613 shares of the gold and copper producer’s stock valued at $9,630,000 after purchasing an additional 80,366 shares during the period. Confluence Investment Management LLC raised its position in shares of Barrick Gold by 6.2% in the third quarter. Confluence Investment Management LLC now owns 28,777 shares of the gold and copper producer’s stock valued at $572,000 after purchasing an additional 1,685 shares during the period. Finally, Oxbow Advisors LLC raised its position in shares of Barrick Gold by 3.7% in the third quarter. Oxbow Advisors LLC now owns 64,847 shares of the gold and copper producer’s stock valued at $1,290,000 after purchasing an additional 2,308 shares during the period. 62.85% of the stock is owned by institutional investors.

Barrick Gold Price Performance

GOLD stock opened at $18.61 on Friday. The company has a quick ratio of 2.15, a current ratio of 2.89 and a debt-to-equity ratio of 0.14. Barrick Gold Corp has a 12 month low of $15.11 and a 12 month high of $21.35. The firm has a market cap of $32.13 billion, a P/E ratio of 15.13, a P/E/G ratio of 0.44 and a beta of 0.58. The company’s 50-day moving average price is $16.86 and its two-hundred day moving average price is $18.14.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its earnings results on Wednesday, February 12th. The gold and copper producer reported $0.46 EPS for the quarter, meeting the consensus estimate of $0.46. Barrick Gold had a net margin of 16.59% and a return on equity of 6.76%. On average, analysts anticipate that Barrick Gold Corp will post 1.47 earnings per share for the current fiscal year.

Barrick Gold announced that its board has authorized a share repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the gold and copper producer to repurchase up to 3.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Barrick Gold Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.15%. The ex-dividend date is Friday, February 28th. Barrick Gold’s dividend payout ratio is currently 32.52%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GOLD. Berenberg Bank increased their price objective on shares of Barrick Gold from $37.00 to $38.00 in a research report on Tuesday, November 26th. Citigroup dropped their price objective on shares of Barrick Gold from $23.00 to $17.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th. Scotiabank raised their price target on shares of Barrick Gold from $19.00 to $20.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 18th. Bank of America lowered shares of Barrick Gold from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $21.00 to $18.00 in a research report on Monday, January 27th. Finally, UBS Group raised shares of Barrick Gold from a “neutral” rating to a “buy” rating and set a $22.00 price target on the stock in a research report on Wednesday. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently 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.