StoneX Group Inc. Purchases 3,194 Shares of Barrick Gold Corp (NYSE:GOLD)

StoneX Group Inc. lifted its position in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 16.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 23,141 shares of the gold and copper producer’s stock after buying an additional 3,194 shares during the period. StoneX Group Inc.’s holdings in Barrick Gold were worth $359,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. increased its position in shares of 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 in the last quarter. Charles Schwab Investment Management Inc. increased its position in Barrick Gold by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,073,717 shares of the gold and copper producer’s stock valued at $78,637,000 after buying an additional 128,203 shares in the last quarter. Crocodile Capital Partners GmbH raised 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 valued at $22,630,000 after buying an additional 720,000 shares during the last quarter. Chiron Investment Management LLC boosted its holdings in Barrick Gold by 36.5% in the third quarter. Chiron Investment Management LLC now owns 604,199 shares of the gold and copper producer’s stock worth $12,018,000 after acquiring an additional 161,688 shares in the last quarter. Finally, Legend Financial Advisors Inc. purchased a new stake in shares of Barrick Gold during the fourth quarter worth about $700,000. Hedge funds and other institutional investors own 62.85% of the company’s stock.

Barrick Gold Trading Down 1.3 %

Shares of NYSE:GOLD opened at $19.41 on Thursday. 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 $15.11 and a 12-month high of $21.35. The business has a 50 day moving average of $18.07 and a two-hundred day moving average of $18.02. The company has a market capitalization of $33.49 billion, a PE ratio of 15.78, a PEG ratio of 0.44 and a beta of 0.58.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its earnings results on Wednesday, February 12th. The gold and copper producer reported $0.46 earnings per share (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%. As a group, analysts forecast 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 program on Wednesday, February 12th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the gold and copper producer to reacquire up to 3.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Barrick Gold Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend was Friday, February 28th. Barrick Gold’s dividend payout ratio (DPR) is presently 32.52%.

Analyst Ratings Changes

A number of research firms recently commented on GOLD. National Bank Financial upgraded shares of Barrick Gold to a “hold” rating in a research note on Friday, March 21st. Citigroup dropped their price objective on shares of Barrick Gold from $21.00 to $17.00 and set a “neutral” rating on the stock in a report on Monday. UBS Group upgraded Barrick Gold from a “neutral” rating to a “buy” rating and set a $22.00 target price for the company in a research note on Wednesday, March 5th. 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 note on Thursday, February 13th. Finally, Scotiabank lifted their target price on Barrick Gold from $19.00 to $20.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 18th. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $23.71.

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.