Jennison Associates LLC Has $32.77 Million Position in Barrick Gold Corp (NYSE:GOLD)

Jennison Associates LLC increased its position in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 23.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,811,368 shares of the gold and copper producer’s stock after acquiring an additional 341,354 shares during the quarter. Jennison Associates LLC’s holdings in Barrick Gold were worth $32,768,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Bruce G. Allen Investments LLC purchased a new position in Barrick Gold during the 4th quarter valued at about $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in Barrick Gold during the 4th quarter valued at about $61,000. Cary Street Partners Investment Advisory LLC boosted its position in shares of Barrick Gold by 41.1% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 3,919 shares of the gold and copper producer’s stock valued at $57,000 after acquiring an additional 1,142 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of Barrick Gold during the third quarter worth about $75,000. Finally, Fifth Third Bancorp increased its position in shares of Barrick Gold by 13.1% in the third quarter. Fifth Third Bancorp now owns 6,067 shares of the gold and copper producer’s stock worth $88,000 after purchasing an additional 702 shares during the last quarter. Institutional investors and hedge funds own 62.85% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on GOLD. BMO Capital Markets reduced their price target on shares of Barrick Gold from $27.00 to $26.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 17th. Scotiabank reduced their price target on shares of Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, February 20th. National Bank Financial reiterated a “sector perform overweight” rating on shares of Barrick Gold in a research report on Monday, April 8th. Argus restated a “hold” rating on shares of Barrick Gold in a report on Monday, February 26th. Finally, Sanford C. Bernstein cut shares of Barrick Gold from an “outperform” rating to a “market perform” rating in a report on Monday, January 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.06.

Barrick Gold Price Performance

Shares of NYSE:GOLD opened at $16.51 on Thursday. Barrick Gold Corp has a 1-year low of $13.76 and a 1-year high of $20.75. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.16 and a quick ratio of 2.40. The business has a fifty day moving average price of $16.04 and a 200-day moving average price of $16.28. The company has a market capitalization of $28.99 billion, a PE ratio of 22.93, a PEG ratio of 1.52 and a beta of 0.58.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its quarterly earnings results on Wednesday, February 14th. The gold and copper producer reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.06. Barrick Gold had a return on equity of 4.64% and a net margin of 11.16%. The firm had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same period last year, the company earned $0.13 earnings per share. As a group, equities analysts expect that Barrick Gold Corp will post 0.9 EPS for the current fiscal year.

Barrick Gold Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were issued a $0.074 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.30 annualized dividend and a yield of 1.79%. Barrick Gold’s payout ratio is 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.