Barrick Gold Corp (NYSE:GOLD) Holdings Increased by Flputnam Investment Management Co.

Flputnam Investment Management Co. grew its stake in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 25.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 135,725 shares of the gold and copper producer’s stock after acquiring an additional 27,468 shares during the period. Flputnam Investment Management Co.’s holdings in Barrick Gold were worth $2,455,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Mackenzie Financial Corp grew its stake in shares of Barrick Gold by 4.4% in the 4th quarter. Mackenzie Financial Corp now owns 18,783,046 shares of the gold and copper producer’s stock worth $339,524,000 after purchasing an additional 787,829 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Barrick Gold by 0.6% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,078,238 shares of the gold and copper producer’s stock worth $92,047,000 after acquiring an additional 30,836 shares in the last quarter. Simplicity Solutions LLC increased its position in shares of Barrick Gold by 13.2% in the fourth quarter. Simplicity Solutions LLC now owns 21,876 shares of the gold and copper producer’s stock worth $396,000 after acquiring an additional 2,551 shares in the last quarter. Ingalls & Snyder LLC increased its position in shares of Barrick Gold by 4.4% in the fourth quarter. Ingalls & Snyder LLC now owns 71,300 shares of the gold and copper producer’s stock worth $1,290,000 after acquiring an additional 3,000 shares in the last quarter. Finally, Sapient Capital LLC purchased a new position in shares of Barrick Gold in the fourth quarter worth approximately $2,298,000. Institutional investors and hedge funds own 62.85% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on GOLD shares. Sanford C. Bernstein downgraded shares of Barrick Gold from an “outperform” rating to a “market perform” rating in a research report on Monday, January 8th. Raymond James dropped their target price on shares of Barrick Gold from $24.00 to $23.00 and set an “outperform” rating on the stock in a research report on Thursday, February 15th. BMO Capital Markets decreased their price target on shares of Barrick Gold from $26.00 to $24.00 and set an “outperform” rating for the company in a report on Thursday, February 15th. CIBC reduced their target price on shares of Barrick Gold from $27.00 to $23.00 and set an “outperform” rating for the company in a research note on Wednesday, February 7th. Finally, TD Securities reduced their target price on shares of Barrick Gold from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Friday, February 16th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $22.05.

Barrick Gold Price Performance

Shares of Barrick Gold stock opened at $16.48 on Wednesday. The firm has a fifty day simple moving average of $15.78 and a 200-day simple moving average of $16.20. The company has a current ratio of 3.16, a quick ratio of 2.40 and a debt-to-equity ratio of 0.15. Barrick Gold Corp has a 1-year low of $13.76 and a 1-year high of $20.75. The stock has a market capitalization of $28.93 billion, a price-to-earnings ratio of 22.89, a PEG ratio of 1.63 and a beta of 0.58.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its quarterly earnings data on Wednesday, February 14th. The gold and copper producer reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.06. Barrick Gold had a net margin of 11.16% and a return on equity of 4.64%. The business had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same period in the previous year, the company earned $0.13 earnings per share. On average, sell-side analysts expect that Barrick Gold Corp will post 0.91 earnings per share for the current year.

Barrick Gold Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were given a dividend of $0.074 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date was Wednesday, February 28th. Barrick Gold’s dividend payout ratio (DPR) is currently 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.