Barrick Gold Corp (NYSE:GOLD) Shares Bought by Townsquare Capital LLC

Townsquare Capital LLC lifted its position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 0.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 285,355 shares of the gold and copper producer’s stock after acquiring an additional 952 shares during the period. Townsquare Capital LLC’s holdings in Barrick Gold were worth $4,423,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in GOLD. Geode Capital Management LLC lifted its stake in Barrick Gold by 9.5% in the third 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 buying an additional 696,556 shares during the last quarter. Bard Financial Services Inc. grew its stake in shares of Barrick Gold by 3.5% in the third quarter. Bard Financial Services Inc. now owns 55,875 shares of the gold and copper producer’s stock worth $1,111,000 after purchasing an additional 1,875 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in Barrick Gold in the 3rd quarter valued at about $517,000. Synovus Financial Corp bought a new stake in Barrick Gold during the third quarter worth approximately $210,000. Finally, Inspire Trust Co. N.A. boosted its stake in Barrick Gold by 25.2% during the third quarter. Inspire Trust Co. N.A. now owns 49,700 shares of the gold and copper producer’s stock valued at $989,000 after buying an additional 10,000 shares in the last quarter. 62.85% of the stock is currently owned by institutional investors.

Barrick Gold Stock Down 0.8 %

GOLD opened at $20.42 on Tuesday. Barrick Gold Corp has a twelve month low of $15.11 and a twelve month high of $21.35. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.15 and a current ratio of 2.89. The business has a 50 day moving average price of $18.55 and a 200 day moving average price of $17.90. The firm has a market cap of $35.11 billion, a P/E ratio of 16.60, a price-to-earnings-growth ratio of 0.44 and a beta of 0.55.

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, hitting the consensus estimate of $0.46. Barrick Gold had a net margin of 16.59% and a return on equity of 6.76%. Research analysts forecast that Barrick Gold Corp will post 1.47 EPS for the current year.

Barrick Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.96%. Barrick Gold’s payout ratio is presently 32.52%.

Barrick Gold announced that its board has initiated a share buyback plan 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 reacquire up to 3.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GOLD. National Bankshares reissued an “outperform” rating on shares of Barrick Gold in a research note on Wednesday, April 2nd. Scotiabank raised their price target on shares of Barrick Gold from $20.00 to $22.00 and gave the stock a “sector perform” rating in a report on Monday. Royal Bank of Canada upped their price objective on shares of Barrick Gold from $22.00 to $23.00 and gave the company an “outperform” rating in a research note on Friday, April 4th. National Bank Financial raised shares of Barrick Gold to a “hold” rating in a research note on Friday, March 21st. Finally, UBS Group upped their price target on shares of Barrick Gold from $22.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.21.

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.