one8zero8 LLC Buys New Shares in Barrick Gold Corp (NYSE:GOLD)

one8zero8 LLC purchased a new position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 14,450 shares of the gold and copper producer’s stock, valued at approximately $224,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Moors & Cabot Inc. raised its holdings in shares of Barrick Gold by 0.9% during the 3rd quarter. Moors & Cabot Inc. now owns 64,085 shares of the gold and copper producer’s stock valued at $1,275,000 after buying an additional 579 shares in the last quarter. Chelsea Counsel Co. grew its position in Barrick Gold by 1.4% during the third quarter. Chelsea Counsel Co. now owns 42,973 shares of the gold and copper producer’s stock valued at $855,000 after acquiring an additional 590 shares during the last quarter. Avior Wealth Management LLC raised its stake in shares of Barrick Gold by 24.1% during the third quarter. Avior Wealth Management LLC now owns 3,399 shares of the gold and copper producer’s stock worth $68,000 after acquiring an additional 659 shares in the last quarter. VisionPoint Advisory Group LLC lifted its holdings in shares of Barrick Gold by 6.7% in the 4th quarter. VisionPoint Advisory Group LLC now owns 14,051 shares of the gold and copper producer’s stock worth $224,000 after acquiring an additional 880 shares during the last quarter. Finally, Bangor Savings Bank boosted its stake in shares of Barrick Gold by 4.5% in the 4th quarter. Bangor Savings Bank now owns 22,025 shares of the gold and copper producer’s stock valued at $341,000 after purchasing an additional 956 shares in the last quarter. 62.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Berenberg Bank boosted their price target on shares of Barrick Gold from $37.00 to $38.00 in a research note on Tuesday, November 26th. TD Securities dropped their target price on Barrick Gold from $24.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, February 13th. CIBC cut Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research note on Monday, November 25th. UBS Group raised Barrick Gold from a “neutral” rating to a “buy” rating and set a $22.00 price objective for the company in a research note on Wednesday, March 5th. Finally, Scotiabank upped their price target 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. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $23.75.

Barrick Gold Stock Up 0.4 %

Shares of NYSE GOLD opened at $18.80 on Monday. The firm has a fifty day simple moving average of $17.15 and a two-hundred day simple moving average of $18.06. Barrick Gold Corp has a 12 month low of $0.25 and a 12 month high of $21.35. The company has a current ratio of 2.89, a quick ratio of 2.15 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $32.46 billion, a PE ratio of 15.28, a price-to-earnings-growth ratio of 0.44 and a beta of 0.58.

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

Barrick Gold Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be paid a $0.10 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.40 annualized dividend and a yield of 2.13%. Barrick Gold’s payout ratio is 32.52%.

Barrick Gold announced that its Board of Directors has approved a share 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 reacquire up to 3.2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management 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.