Tocqueville Asset Management L.P. Has $5.43 Million Stock Position in Barrick Gold Corp (NYSE:GOLD)

Tocqueville Asset Management L.P. boosted its holdings in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 3.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 350,322 shares of the gold and copper producer’s stock after acquiring 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 have also added to or reduced their stakes in GOLD. Principal Financial Group Inc. boosted its holdings in Barrick Gold by 19.9% during the 3rd quarter. Principal Financial Group Inc. now owns 483,613 shares of the gold and copper producer’s stock worth $9,630,000 after acquiring an additional 80,366 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Barrick Gold by 4.6% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 149,305 shares of the gold and copper producer’s stock worth $2,970,000 after purchasing an additional 6,499 shares during the last quarter. OneDigital Investment Advisors LLC grew its position in Barrick Gold by 31.4% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 17,830 shares of the gold and copper producer’s stock worth $355,000 after purchasing an additional 4,258 shares in the last quarter. Empowered Funds LLC increased its stake in Barrick Gold by 3.0% in the 3rd quarter. Empowered Funds LLC now owns 178,615 shares of the gold and copper producer’s stock valued at $3,553,000 after buying an additional 5,166 shares during the last quarter. Finally, Natixis Advisors LLC lifted its position in shares of Barrick Gold by 128.7% during the 3rd quarter. Natixis Advisors LLC now owns 174,304 shares of the gold and copper producer’s stock worth $3,467,000 after buying an additional 98,086 shares in the last quarter. Institutional investors and hedge funds own 62.85% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on GOLD shares. CIBC lowered Barrick Gold from a “sector outperform” rating to a “neutral” rating in a report on Monday, November 25th. Citigroup decreased their target price on Barrick Gold from $23.00 to $17.00 and set a “neutral” rating for the company in a research report on Friday, December 20th. TD Securities cut their price target on shares of Barrick Gold from $24.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. UBS Group upgraded shares of Barrick Gold from a “neutral” rating to a “buy” rating and set a $22.00 price objective for the company in a report on Wednesday, March 5th. Finally, Bank of America cut shares of Barrick Gold from a “buy” rating to a “neutral” rating and dropped their target price for the company from $21.00 to $18.00 in a research note on Monday, January 27th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $23.75.

Barrick Gold Stock Up 0.9 %

Barrick Gold stock opened at $19.35 on Wednesday. The firm has a market capitalization 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. The firm has a 50 day simple moving average of $17.30 and a 200 day simple moving average of $18.05. 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.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its quarterly earnings data on Wednesday, February 12th. The gold and copper producer reported $0.46 earnings per share (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, analysts predict that Barrick Gold Corp will post 1.47 earnings per share for the current year.

Barrick Gold declared that its board has approved a stock buyback program on Wednesday, February 12th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the gold and copper producer to purchase up to 3.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Barrick Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.40 annualized dividend and a yield of 2.07%. Barrick Gold’s dividend payout ratio is currently 32.52%.

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.