CenterBook Partners LP Grows Stake in Barrick Gold Corp (NYSE:GOLD)

CenterBook Partners LP raised its stake in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 10.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 96,001 shares of the gold and copper producer’s stock after purchasing an additional 8,750 shares during the period. CenterBook Partners LP’s holdings in Barrick Gold were worth $1,488,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Quantinno Capital Management LP boosted its stake in Barrick Gold by 7.5% during the third quarter. Quantinno Capital Management LP now owns 65,185 shares of the gold and copper producer’s stock worth $1,297,000 after buying an additional 4,554 shares during the period. Y Intercept Hong Kong Ltd boosted its stake in shares of Barrick Gold by 152.4% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 57,530 shares of the gold and copper producer’s stock worth $1,144,000 after purchasing an additional 34,733 shares during the period. Geode Capital Management LLC grew its holdings in Barrick Gold by 9.5% during the 3rd quarter. Geode Capital Management LLC now owns 8,047,255 shares of the gold and copper producer’s stock valued at $162,140,000 after purchasing an additional 696,556 shares during the last quarter. Sunbelt Securities Inc. raised its position in Barrick Gold by 43.9% in the 3rd quarter. Sunbelt Securities Inc. now owns 14,241 shares of the gold and copper producer’s stock worth $283,000 after purchasing an additional 4,345 shares during the period. Finally, Bard Financial Services Inc. boosted its position in shares of Barrick Gold by 3.5% during the third quarter. Bard Financial Services Inc. now owns 55,875 shares of the gold and copper producer’s stock valued at $1,111,000 after buying an additional 1,875 shares during the period. 62.85% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Bank of America lowered Barrick Gold from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $21.00 to $18.00 in a research note on Monday, January 27th. National Bank Financial upgraded Barrick Gold to a “hold” rating in a research report on Friday, March 21st. Royal Bank of Canada upped their price target on shares of Barrick Gold from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday, April 4th. Scotiabank lifted their price objective on shares of Barrick Gold from $19.00 to $20.00 and gave the company a “sector perform” rating in a report on Tuesday, February 18th. Finally, Citigroup dropped their target price on shares of Barrick Gold from $21.00 to $17.00 and set a “neutral” rating on the stock in a research note on Monday, March 31st. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.79.

Barrick Gold Stock Up 2.3 %

Shares of NYSE GOLD opened at $19.24 on Friday. Barrick Gold Corp has a 12-month low of $15.11 and a 12-month high of $21.35. The stock’s fifty day simple moving average is $18.41 and its two-hundred day simple moving average is $17.92. The stock has a market capitalization of $33.20 billion, a PE ratio of 15.64, a price-to-earnings-growth ratio of 0.44 and a beta of 0.55. 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 posted its earnings results 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 return on equity of 6.76% and a net margin of 16.59%. As a group, analysts expect that Barrick Gold Corp will post 1.47 EPS for the current fiscal year.

Barrick Gold declared that its Board of Directors has initiated a stock buyback plan on Wednesday, February 12th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the gold and copper producer to purchase up to 3.2% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Barrick Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors 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 yield of 2.08%. Barrick Gold’s payout ratio is 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.