Ninety One UK Ltd Has $289.84 Million Stake in Barrick Gold Corp (NYSE:GOLD)

Ninety One UK Ltd boosted its holdings in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 13.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,022,022 shares of the gold and copper producer’s stock after buying an additional 1,870,059 shares during the period. Ninety One UK Ltd owned approximately 0.91% of Barrick Gold worth $289,838,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Fairfield Bush & CO. acquired a new position in Barrick Gold in the second quarter valued at approximately $29,000. Bruce G. Allen Investments LLC acquired a new position in Barrick Gold in the fourth quarter valued at approximately $35,000. Resurgent Financial Advisors LLC acquired a new position in Barrick Gold in the fourth quarter valued at approximately $36,000. FWL Investment Management LLC acquired a new position in Barrick Gold in the fourth quarter valued at approximately $36,000. Finally, Chilton Capital Management LLC acquired a new stake in Barrick Gold in the first quarter worth $37,000. 62.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GOLD has been the topic of several analyst reports. Jefferies Financial Group initiated coverage on shares of Barrick Gold in a report on Thursday, February 29th. They issued a “buy” rating and a $21.00 target price on the stock. CIBC cut their target price on shares of Barrick Gold from $27.00 to $23.00 and set an “outperform” rating on the stock in a report on Wednesday, February 7th. Raymond James cut their target price on shares of Barrick Gold from $24.00 to $23.00 and set an “outperform” rating on the stock in a report on Thursday, February 15th. Scotiabank cut their target price on shares of Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating on the stock in a report on Tuesday, February 20th. Finally, StockNews.com raised shares of Barrick Gold from a “hold” rating to a “buy” rating in a research report on Wednesday, February 21st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.18.

Barrick Gold Stock Up 1.6 %

Barrick Gold stock traded up $0.27 during mid-day trading on Thursday, reaching $16.97. The company’s stock had a trading volume of 10,974,175 shares, compared to its average volume of 22,562,992. The company has a market capitalization of $29.79 billion, a price-to-earnings ratio of 23.19, a price-to-earnings-growth ratio of 1.50 and a beta of 0.58. Barrick Gold Corp has a 12 month low of $13.76 and a 12 month high of $20.75. The business’s 50 day simple moving average is $15.82 and its 200 day simple moving average is $16.20. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.40 and a current ratio of 3.16.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its quarterly earnings data on Wednesday, February 14th. The gold and copper producer reported $0.27 EPS for the quarter, beating 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 company had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter last year, the firm posted $0.13 EPS. As a group, research analysts anticipate that Barrick Gold Corp will post 0.91 earnings per share for the current year.

Barrick Gold Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were given a $0.074 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date was Wednesday, February 28th. Barrick Gold’s dividend payout ratio (DPR) is presently 55.56%.

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.