Net Worth Advisory Group Acquires Shares of 10,593 Barrick Gold Corp (NYSE:GOLD)

Net Worth Advisory Group bought a new position in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 10,593 shares of the gold and copper producer’s stock, valued at approximately $164,000.

Several other institutional investors have also recently made changes to their positions in GOLD. Van ECK Associates Corp boosted its position in shares of Barrick Gold by 2.1% in the 4th quarter. Van ECK Associates Corp now owns 76,299,834 shares of the gold and copper producer’s stock worth $1,182,641,000 after purchasing an additional 1,563,361 shares in the last quarter. Wellington Management Group LLP grew its position in Barrick Gold by 2.7% during the 3rd quarter. Wellington Management Group LLP now owns 54,712,508 shares of the gold and copper producer’s stock valued at $1,088,484,000 after purchasing an additional 1,458,084 shares during the last quarter. Amundi increased its stake in Barrick Gold by 1.7% during the 4th quarter. Amundi now owns 14,120,278 shares of the gold and copper producer’s stock valued at $223,665,000 after purchasing an additional 236,116 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Barrick Gold by 33.3% in the third quarter. The Manufacturers Life Insurance Company now owns 11,431,497 shares of the gold and copper producer’s stock worth $227,524,000 after buying an additional 2,854,055 shares during the last quarter. Finally, Ruffer LLP grew its holdings in shares of Barrick Gold by 14.8% during the fourth quarter. Ruffer LLP now owns 10,269,848 shares of the gold and copper producer’s stock valued at $159,180,000 after buying an additional 1,325,119 shares during the last quarter. Institutional investors own 62.85% of the company’s stock.

Barrick Gold Price Performance

Shares of Barrick Gold stock opened at $18.47 on Wednesday. The firm has a market cap of $31.89 billion, a PE ratio of 15.01, a PEG ratio of 0.44 and a beta of 0.58. The stock has a 50 day moving average of $16.97 and a 200 day moving average of $18.09. 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.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its earnings results on Wednesday, February 12th. The gold and copper producer reported $0.46 EPS for the quarter, meeting analysts’ consensus estimates of $0.46. Barrick Gold had a return on equity of 6.76% and a net margin of 16.59%. On average, 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 stock buyback program on Wednesday, February 12th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the gold and copper producer to buy up to 3.2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Barrick Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be issued a $0.10 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.17%. Barrick Gold’s dividend payout ratio (DPR) is presently 32.52%.

Analyst Ratings Changes

Several brokerages have commented on GOLD. Bank of America downgraded Barrick Gold from a “buy” rating to a “neutral” rating and cut their target price for the company from $21.00 to $18.00 in a research note on Monday, January 27th. Cibc World Mkts downgraded Barrick Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, November 25th. Citigroup lowered their target price on shares of Barrick Gold from $23.00 to $17.00 and set a “neutral” rating on the stock in a research note on Friday, December 20th. TD Securities reduced their price target on shares of Barrick Gold from $24.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Finally, CIBC downgraded shares of Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research report on Monday, November 25th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Barrick Gold currently 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.