Tocqueville Asset Management L.P. Grows Holdings in Barrick Gold Corp (NYSE:GOLD)

Tocqueville Asset Management L.P. grew its stake in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 3.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 350,322 shares of the gold and copper producer’s stock after buying an additional 11,897 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Barrick Gold were worth $5,430,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in GOLD. Principal Financial Group Inc. grew its position in 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 valued at $9,630,000 after acquiring an additional 80,366 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings 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 valued at $78,637,000 after purchasing an additional 128,203 shares during the last quarter. Crocodile Capital Partners GmbH raised its position in Barrick Gold by 97.3% in 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 period. Chiron Investment Management LLC lifted its stake 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 purchasing an additional 161,688 shares during the last quarter. Finally, Legend Financial Advisors Inc. bought a new stake in Barrick Gold in the fourth quarter worth $700,000. 62.85% of the stock is owned by institutional investors.

Barrick Gold Trading Up 0.9 %

Shares of GOLD opened at $19.35 on Wednesday. Barrick Gold Corp has a 1-year low of $0.25 and a 1-year 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. The firm’s 50-day moving average price is $17.30 and its 200-day moving average price is $18.05. The firm has a market capitalization of $33.39 billion, a price-to-earnings ratio of 15.73, a PEG ratio of 0.44 and a beta of 0.58.

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

Barrick Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were issued a $0.10 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.40 dividend on an annualized basis and a yield of 2.07%. Barrick Gold’s dividend payout ratio (DPR) is 32.52%.

Barrick Gold announced that its board has authorized a share buyback program on Wednesday, February 12th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the gold and copper producer to repurchase up to 3.2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on GOLD shares. TD Securities decreased their price objective on Barrick Gold from $24.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Scotiabank lifted their price target on Barrick Gold from $19.00 to $20.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 18th. Bank of America lowered Barrick Gold from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $21.00 to $18.00 in a research note on Monday, January 27th. Citigroup decreased 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. Finally, Berenberg Bank increased their price target on shares of Barrick Gold from $37.00 to $38.00 in a research report on Tuesday, November 26th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $23.75.

About Barrick Gold

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.