Barrick Gold Corp (NYSE:GOLD) Shares Purchased by Mufg Securities Canada LTD.

Mufg Securities Canada LTD. raised its holdings in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 71.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,669,327 shares of the gold and copper producer’s stock after acquiring an additional 1,113,748 shares during the quarter. Barrick Gold makes up 1.5% of Mufg Securities Canada LTD.’s investment portfolio, making the stock its 18th largest position. Mufg Securities Canada LTD.’s holdings in Barrick Gold were worth $41,365,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. The Manufacturers Life Insurance Company increased its position in Barrick Gold by 33.3% during the 3rd 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 purchasing an additional 2,854,055 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Barrick Gold by 2.1% during 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 during the last quarter. Wellington Management Group LLP grew its holdings in shares of Barrick Gold by 2.7% during the third quarter. Wellington Management Group LLP now owns 54,712,508 shares of the gold and copper producer’s stock worth $1,088,484,000 after buying an additional 1,458,084 shares in the last quarter. Ruffer LLP raised its position in shares of Barrick Gold by 14.8% in 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. Finally, Vanguard Group Inc. lifted its stake in shares of Barrick Gold by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 68,358,533 shares of the gold and copper producer’s stock valued at $1,060,036,000 after buying an additional 1,195,585 shares during the period. Hedge funds and other institutional investors own 62.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on GOLD shares. Citigroup decreased their price target on Barrick Gold from $23.00 to $17.00 and set a “neutral” rating on the stock in a research note on Friday, December 20th. Raymond James dropped their target price on shares of Barrick Gold from $25.00 to $24.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. National Bank Financial upgraded Barrick Gold to a “hold” rating in a report on Friday, March 21st. Berenberg Bank boosted their price target on Barrick Gold from $37.00 to $38.00 in a research report on Tuesday, November 26th. Finally, Bank of America downgraded shares of Barrick Gold from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $21.00 to $18.00 in a research report on Monday, January 27th. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $23.75.

Barrick Gold Trading Up 2.4 %

NYSE:GOLD opened at $19.34 on Wednesday. The stock has a market cap of $33.37 billion, a price-to-earnings ratio of 15.72, a PEG ratio of 0.44 and a beta of 0.58. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.15 and a current ratio of 2.89. Barrick Gold Corp has a 1 year low of $0.25 and a 1 year high of $21.35. The business has a fifty day moving average of $17.64 and a 200-day moving average of $18.03.

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 (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%. Equities analysts predict that Barrick Gold Corp will post 1.47 earnings per share for the current year.

Barrick Gold Announces Dividend

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

Barrick Gold declared that its board has approved a share repurchase program on Wednesday, February 12th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the gold and copper producer to reacquire up to 3.2% of its shares through open market purchases. Shares repurchase programs are generally a sign 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.