Intech Investment Management LLC Buys Shares of 345,036 Barrick Gold Corp (NYSE:GOLD)

Intech Investment Management LLC bought a new stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 345,036 shares of the gold and copper producer’s stock, valued at approximately $5,348,000.

Other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. lifted its stake in Barrick Gold by 19.9% in the 3rd quarter. Principal Financial Group Inc. now owns 483,613 shares of the gold and copper producer’s stock valued at $9,630,000 after acquiring an additional 80,366 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of 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 worth $78,637,000 after purchasing an additional 128,203 shares during the last quarter. Crocodile Capital Partners GmbH increased its position in shares of Barrick Gold by 97.3% during the 4th quarter. Crocodile Capital Partners GmbH now owns 1,460,000 shares of the gold and copper producer’s stock worth $22,630,000 after purchasing an additional 720,000 shares during the last quarter. Chiron Investment Management LLC increased its position in shares of Barrick Gold by 36.5% during the 3rd quarter. Chiron Investment Management LLC now owns 604,199 shares of the gold and copper producer’s stock worth $12,018,000 after purchasing an additional 161,688 shares during the last quarter. Finally, Legend Financial Advisors Inc. acquired a new position in shares of Barrick Gold during the 4th quarter worth approximately $700,000. Institutional investors own 62.85% of the company’s stock.

Analyst Ratings Changes

GOLD has been the topic of a number of recent analyst reports. Bank of America lowered Barrick Gold from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $21.00 to $18.00 in a report on Monday, January 27th. Citigroup decreased their target price on Barrick Gold from $23.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday, December 20th. Berenberg Bank boosted their target price on Barrick Gold from $37.00 to $38.00 in a report on Tuesday, November 26th. TD Securities decreased their target price on Barrick Gold from $24.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Finally, UBS Group raised Barrick Gold from a “neutral” rating to a “buy” rating and set a $22.00 target price on the stock in a report on Wednesday, March 5th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $23.75.

Barrick Gold Stock Performance

Shares of NYSE GOLD opened at $19.35 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.89 and a quick ratio of 2.15. The stock’s fifty day moving average price is $17.30 and its two-hundred day moving average price is $18.05. Barrick Gold Corp has a one year low of $0.25 and a one year high of $21.35. The firm has a market cap of $33.39 billion, a price-to-earnings ratio of 15.73, a P/E/G ratio of 0.44 and a beta of 0.58.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its 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 return on equity of 6.76% and a net margin of 16.59%. On average, equities 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 was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were given a dividend of $0.10 per share. The ex-dividend date was Friday, February 28th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.07%. Barrick Gold’s payout ratio is 32.52%.

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

Barrick Gold Company 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.