Jennison Associates LLC Has $32.77 Million Stock Holdings in Barrick Gold Corp (NYSE:GOLD)

Jennison Associates LLC increased its holdings in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 23.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,811,368 shares of the gold and copper producer’s stock after acquiring an additional 341,354 shares during the period. Jennison Associates LLC owned about 0.10% of Barrick Gold worth $32,768,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Bruce G. Allen Investments LLC bought a new position in shares of Barrick Gold during the fourth quarter valued at $35,000. Cary Street Partners Investment Advisory LLC boosted its holdings in shares of Barrick Gold by 41.1% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 3,919 shares of the gold and copper producer’s stock worth $57,000 after acquiring an additional 1,142 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Barrick Gold during the 4th quarter valued at $61,000. Headlands Technologies LLC bought a new position in Barrick Gold in the 3rd quarter valued at $75,000. Finally, Fifth Third Bancorp boosted its stake in Barrick Gold by 13.1% in the third quarter. Fifth Third Bancorp now owns 6,067 shares of the gold and copper producer’s stock worth $88,000 after purchasing an additional 702 shares in the last quarter. Institutional investors own 62.85% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on GOLD. National Bank Financial reissued a “sector perform overweight” rating on shares of Barrick Gold in a report on Monday, April 8th. StockNews.com upgraded shares of Barrick Gold from a “hold” rating to a “buy” rating in a research report on Wednesday, February 21st. Raymond James lowered their target price on Barrick Gold from $24.00 to $23.00 and set an “outperform” rating for the company in a research note on Thursday, February 15th. Scotiabank cut their price target on Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, February 20th. Finally, CIBC lowered their price objective on Barrick Gold from $27.00 to $23.00 and set an “outperform” rating for the company in a research report on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $20.06.

Barrick Gold Trading Down 1.1 %

NYSE:GOLD opened at $16.51 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.16 and a quick ratio of 2.40. The business’s 50-day simple moving average is $16.04 and its 200-day simple moving average is $16.28. Barrick Gold Corp has a fifty-two week low of $13.76 and a fifty-two week high of $20.75. The stock has a market capitalization of $28.99 billion, a PE ratio of 22.93, a price-to-earnings-growth ratio of 1.52 and a beta of 0.58.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its quarterly earnings results on Wednesday, February 14th. The gold and copper producer reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.06. The firm had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.13 billion. Barrick Gold had a net margin of 11.16% and a return on equity of 4.64%. During the same quarter in the previous year, the firm posted $0.13 earnings per share. Sell-side analysts expect that Barrick Gold Corp will post 0.9 earnings per share for the current fiscal year.

Barrick Gold Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were issued a dividend of $0.074 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.79%. Barrick Gold’s payout ratio is presently 55.56%.

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.