Deutsche Bank AG Raises Stock Holdings in Barrick Gold Corp (NYSE:GOLD)

Deutsche Bank AG raised its position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 13.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 5,532,111 shares of the gold and copper producer’s stock after purchasing an additional 657,767 shares during the period. Deutsche Bank AG’s holdings in Barrick Gold were worth $85,748,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Crowley Wealth Management Inc. purchased a new stake in shares of Barrick Gold in the 4th quarter worth about $26,000. Strategic Investment Solutions Inc. IL purchased a new stake in Barrick Gold in the fourth quarter worth about $37,000. First Horizon Advisors Inc. increased its stake in shares of Barrick Gold by 619.7% during the fourth 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 in the last quarter. Pingora Partners LLC increased its stake in shares of Barrick Gold by 250.0% during the fourth quarter. Pingora Partners LLC now owns 3,500 shares of the gold and copper producer’s stock valued at $54,000 after purchasing an additional 2,500 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its holdings in shares of Barrick Gold by 196.9% during the fourth quarter. Exchange Traded Concepts LLC now owns 4,178 shares of the gold and copper producer’s stock valued at $65,000 after purchasing an additional 2,771 shares during the last quarter. Hedge funds and other institutional investors own 62.85% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on GOLD. Raymond James raised their price objective on Barrick Gold from $23.00 to $23.50 and gave the company an “outperform” rating in a research report on Monday, March 31st. UBS Group increased their target price on Barrick Gold from $22.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, April 11th. Stifel Canada raised Barrick Gold to a “strong-buy” rating in a research report on Wednesday, March 19th. StockNews.com upgraded shares of Barrick Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 5th. Finally, National Bank Financial raised shares of Barrick Gold to a “hold” rating in a research report on Friday, March 21st. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.05.

Barrick Gold Trading Down 3.0%

Shares of NYSE:GOLD opened at $18.83 on Monday. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.89 and a quick ratio of 2.15. Barrick Gold Corp has a 1 year low of $15.11 and a 1 year high of $21.35. The company has a market cap of $32.37 billion, a P/E ratio of 15.30, a PEG ratio of 0.44 and a beta of 0.25. The stock’s fifty day moving average price is $19.09 and its 200-day moving average price is $17.79.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its earnings results on Wednesday, May 7th. The gold and copper producer reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.06. The business had revenue of $3 billion during the quarter, compared to analyst estimates of $3.15 billion. Barrick Gold had a return on equity of 6.76% and a net margin of 16.59%. Barrick Gold’s revenue was up 13.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.19 EPS. Sell-side analysts expect that Barrick Gold Corp will post 1.47 earnings per share for the current year.

Barrick Gold announced that its board has approved a share 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 generally an indication that the company’s management believes its stock is undervalued.

Barrick Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be given a dividend of $0.10 per share. The ex-dividend date is Friday, May 30th. This represents a $0.40 dividend on an annualized basis and a yield of 2.12%. Barrick Gold’s dividend payout ratio (DPR) is 30.08%.

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.