CIBC Private Wealth Group LLC Purchases 1,220 Shares of Barrick Gold Corp (NYSE:GOLD)

CIBC Private Wealth Group LLC lifted its position in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 6.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,984 shares of the gold and copper producer’s stock after buying an additional 1,220 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Barrick Gold were worth $301,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Crowley Wealth Management Inc. bought a new stake in Barrick Gold during the fourth quarter valued at about $26,000. First Horizon Advisors Inc. boosted its stake in Barrick Gold by 619.7% during the 4th quarter. First Horizon Advisors Inc. now owns 3,073 shares of the gold and copper producer’s stock valued at $48,000 after purchasing an additional 2,646 shares during the period. Exchange Traded Concepts LLC grew its holdings in Barrick Gold by 196.9% in the 4th quarter. Exchange Traded Concepts LLC now owns 4,178 shares of the gold and copper producer’s stock valued at $65,000 after buying an additional 2,771 shares during the last quarter. Newbridge Financial Services Group Inc. bought a new position in Barrick Gold in the 4th quarter worth approximately $65,000. Finally, Principal Securities Inc. boosted its position in shares of Barrick Gold by 119.4% in the fourth quarter. Principal Securities Inc. now owns 4,848 shares of the gold and copper producer’s stock valued at $75,000 after acquiring an additional 2,638 shares during the period. 62.85% of the stock is currently owned by institutional investors and hedge funds.

Barrick Gold Trading Down 9.0 %

Shares of GOLD stock opened at $17.64 on Friday. The company has a quick ratio of 2.15, a current ratio of 2.89 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $30.44 billion, a P/E ratio of 14.34, a P/E/G ratio of 0.44 and a beta of 0.58. Barrick Gold Corp has a 12-month low of $15.11 and a 12-month high of $21.35. The firm has a 50-day moving average price of $18.17 and a 200 day moving average price of $17.99.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its earnings results 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 return on equity of 6.76% and a net margin of 16.59%. Research analysts forecast that Barrick Gold Corp will post 1.47 earnings per share for the current fiscal year.

Barrick Gold Dividend Announcement

The firm also recently announced 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 was Friday, February 28th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.27%. Barrick Gold’s dividend payout ratio (DPR) is presently 32.52%.

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

Analyst Ratings Changes

A number of brokerages recently issued reports on GOLD. TD Securities dropped their target price on shares of Barrick Gold from $24.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Raymond James upped their price objective on shares of Barrick Gold from $23.00 to $23.50 and gave the company an “outperform” rating in a research report on Monday, March 31st. Citigroup decreased their target price on Barrick Gold from $21.00 to $17.00 and set a “neutral” rating on the stock in a research report on Monday, March 31st. Bank of America cut Barrick Gold from a “buy” rating to a “neutral” rating and cut their price target for the company from $21.00 to $18.00 in a report on Monday, January 27th. Finally, Stifel Canada raised Barrick Gold to a “strong-buy” rating in a report on Wednesday, March 19th. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Barrick Gold presently has an average rating of “Moderate Buy” and an average price target of $23.79.

Barrick Gold 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.