Union Bancaire Privee UBP SA Acquires New Position in Barrick Gold Corp (NYSE:GOLD)

Union Bancaire Privee UBP SA acquired a new stake in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 33,124 shares of the gold and copper producer’s stock, valued at approximately $499,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of GOLD. Creative Planning increased its position in Barrick Gold by 6.4% during the third quarter. Creative Planning now owns 115,395 shares of the gold and copper producer’s stock worth $2,295,000 after purchasing an additional 6,902 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in Barrick Gold by 8.3% during the third quarter. Sequoia Financial Advisors LLC now owns 15,465 shares of the gold and copper producer’s stock worth $308,000 after purchasing an additional 1,181 shares during the last quarter. Assenagon Asset Management S.A. increased its position in Barrick Gold by 458.1% during the third quarter. Assenagon Asset Management S.A. now owns 108,148 shares of the gold and copper producer’s stock worth $2,151,000 after purchasing an additional 88,770 shares during the last quarter. Forsta AP Fonden increased its position in Barrick Gold by 7.9% during the third quarter. Forsta AP Fonden now owns 350,944 shares of the gold and copper producer’s stock worth $6,988,000 after purchasing an additional 25,600 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale increased its position in Barrick Gold by 0.5% during the third quarter. DekaBank Deutsche Girozentrale now owns 147,903 shares of the gold and copper producer’s stock worth $2,953,000 after purchasing an additional 732 shares during the last quarter. Institutional investors and hedge funds own 62.85% of the company’s stock.

Barrick Gold Price Performance

GOLD opened at $18.27 on Tuesday. The company has a fifty day simple moving average of $16.42 and a 200 day simple moving average of $18.21. The firm has a market cap of $31.55 billion, a price-to-earnings ratio of 14.85, a PEG ratio of 0.44 and a beta of 0.55. Barrick Gold Corp has a twelve month low of $14.27 and a twelve month high of $21.35. 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 (NYSE:GOLD) (TSE:ABX) last released its quarterly earnings results on Wednesday, February 12th. The gold and copper producer reported $0.46 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.46. Barrick Gold had a net margin of 16.59% and a return on equity of 6.76%. Equities research analysts expect that Barrick Gold Corp will post 1.47 EPS for the current fiscal year.

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

Barrick Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.40 dividend on an annualized basis and a yield of 2.19%. Barrick Gold’s dividend payout ratio (DPR) is 32.52%.

Analyst Ratings Changes

Several brokerages recently commented on GOLD. Citigroup dropped their price target on shares of Barrick Gold from $23.00 to $17.00 and set a “neutral” rating for the company in a research report on Friday, December 20th. Cibc World Mkts lowered shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 25th. Raymond James dropped their price objective on shares of Barrick Gold from $25.00 to $24.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. 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. Finally, CIBC lowered shares of Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research report on Monday, November 25th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price 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.