Metis Global Partners LLC Acquires 12,094 Shares of Barrick Gold Corp (NYSE:GOLD)

Metis Global Partners LLC boosted its holdings in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 8.7% during the fourth quarter, Holdings Channel reports. The firm owned 150,326 shares of the gold and copper producer’s stock after acquiring an additional 12,094 shares during the quarter. Metis Global Partners LLC’s holdings in Barrick Gold were worth $2,331,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. First Horizon Advisors Inc. increased its stake in shares of Barrick Gold by 619.7% during the fourth quarter. First Horizon Advisors Inc. now owns 3,073 shares of the gold and copper producer’s stock valued at $48,000 after buying an additional 2,646 shares during the period. BNP Paribas boosted its holdings in Barrick Gold by 221.7% in the third quarter. BNP Paribas now owns 3,066 shares of the gold and copper producer’s stock valued at $62,000 after acquiring an additional 2,113 shares in the last quarter. Exchange Traded Concepts LLC increased its position in Barrick Gold by 196.9% during the 4th quarter. Exchange Traded Concepts LLC now owns 4,178 shares of the gold and copper producer’s stock valued at $65,000 after purchasing an additional 2,771 shares during the period. Newbridge Financial Services Group Inc. bought a new position in Barrick Gold in the 4th quarter worth $65,000. Finally, Avior Wealth Management LLC raised its holdings in Barrick Gold by 24.1% in the 3rd quarter. Avior Wealth Management LLC now owns 3,399 shares of the gold and copper producer’s stock worth $68,000 after purchasing an additional 659 shares in the last quarter. Hedge funds and other institutional investors own 62.85% of the company’s stock.

Analysts Set New Price Targets

GOLD has been the subject of several recent research reports. Raymond James lowered their price objective on 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 upped their price objective on shares of Barrick Gold from $37.00 to $38.00 in a report on Tuesday, November 26th. TD Securities dropped their price target on Barrick Gold from $24.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Scotiabank raised their price objective on Barrick Gold from $19.00 to $20.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 18th. Finally, CIBC cut Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research note on Monday, November 25th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Barrick Gold has an average rating of “Moderate Buy” and an average target price of $23.75.

Barrick Gold Trading Down 0.3 %

NYSE:GOLD opened at $17.74 on Monday. Barrick Gold Corp has a one year low of $14.56 and a one year high of $21.35. The business has a fifty day moving average price of $16.61 and a 200-day moving average price of $18.19. The firm has a market capitalization of $30.63 billion, a price-to-earnings ratio of 14.42, a price-to-earnings-growth ratio of 0.44 and a beta of 0.55. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.89 and a quick ratio of 2.15.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its quarterly earnings results on Wednesday, February 12th. The gold and copper producer reported $0.46 EPS for the quarter, hitting analysts’ consensus estimates of $0.46. Barrick Gold had a return on equity of 6.76% and a net margin of 16.59%. Sell-side analysts forecast that Barrick Gold Corp will post 1.47 EPS for the current year.

Barrick Gold Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors 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 annualized dividend and a yield of 2.26%. Barrick Gold’s payout ratio is 32.52%.

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

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.