VisionPoint Advisory Group LLC Raises Stock Position in Barrick Gold Corp (NYSE:GOLD)

VisionPoint Advisory Group LLC raised its position in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 6.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 14,051 shares of the gold and copper producer’s stock after acquiring an additional 880 shares during the quarter. VisionPoint Advisory Group LLC’s holdings in Barrick Gold were worth $224,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in GOLD. Van ECK Associates Corp boosted its position in shares of Barrick Gold by 2.1% in 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 in the last quarter. Wellington Management Group LLP raised its stake in Barrick Gold by 2.7% in the third quarter. Wellington Management Group LLP now owns 54,712,508 shares of the gold and copper producer’s stock valued at $1,088,484,000 after buying an additional 1,458,084 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Barrick Gold by 33.3% in the third 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 acquiring an additional 2,854,055 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Barrick Gold by 221.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,027,811 shares of the gold and copper producer’s stock valued at $199,427,000 after acquiring an additional 6,904,934 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Barrick Gold by 9.5% in 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. 62.85% of the stock is owned by institutional investors and hedge funds.

Barrick Gold Stock Performance

GOLD opened at $18.31 on Friday. Barrick Gold Corp has a 1 year low of $14.27 and a 1 year high of $21.35. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.89 and a quick ratio of 2.15. The firm has a fifty day moving average price of $16.35 and a 200 day moving average price of $18.18. The stock has a market cap of $31.61 billion, a P/E ratio of 14.88, a P/E/G ratio of 0.44 and a beta of 0.55.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its earnings results on Wednesday, February 12th. The gold and copper producer reported $0.46 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%. Equities research analysts anticipate that Barrick Gold Corp will post 1.47 earnings per share for the current year.

Barrick Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.19%. The ex-dividend date is Friday, February 28th. Barrick Gold’s payout ratio is 32.52%.

Barrick Gold announced that its Board of Directors has approved a stock repurchase program on Wednesday, February 12th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the gold and copper producer to buy up to 3.2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. UBS Group cut shares of Barrick Gold from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $23.00 to $22.00 in a report on Wednesday, October 30th. Citigroup lowered their price target 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. Bank of America cut Barrick Gold from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $21.00 to $18.00 in a research note on Monday, January 27th. Raymond James dropped their target price on Barrick Gold from $25.00 to $24.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Finally, Cibc World Mkts lowered shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 25th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $23.75.

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.