Barrick Gold Corp (NYSE:GOLD) Shares Purchased by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. increased its position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 53.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 61,017 shares of the gold and copper producer’s stock after acquiring an additional 21,194 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Barrick Gold were worth $1,104,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of GOLD. Stratos Wealth Partners LTD. boosted its position in Barrick Gold by 5.3% during the third quarter. Stratos Wealth Partners LTD. now owns 13,714 shares of the gold and copper producer’s stock worth $200,000 after acquiring an additional 689 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Barrick Gold by 7.8% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,047,402 shares of the gold and copper producer’s stock worth $73,519,000 after purchasing an additional 367,307 shares during the period. Pacific Sage Partners LLC purchased a new position in Barrick Gold during the third quarter worth approximately $146,000. Fifth Third Bancorp raised its stake in Barrick Gold by 13.1% during 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 period. Finally, Peregrine Asset Advisers Inc. purchased a new position in Barrick Gold during the third quarter worth approximately $587,000. Institutional investors and hedge funds own 62.85% of the company’s stock.

Barrick Gold Price Performance

Shares of GOLD stock opened at $17.25 on Friday. The firm has a market cap of $30.28 billion, a P/E ratio of 20.77, a P/E/G ratio of 1.44 and a beta of 0.59. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.32 and a quick ratio of 2.49. Barrick Gold Corp has a 1-year low of $13.76 and a 1-year high of $19.65. The firm has a fifty day moving average of $16.47 and a two-hundred day moving average of $16.35.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its quarterly earnings data on Wednesday, May 1st. The gold and copper producer reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.04. The company had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.74 billion. Barrick Gold had a net margin of 12.58% and a return on equity of 4.88%. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period last year, the business earned $0.14 EPS. As a group, research analysts anticipate that Barrick Gold Corp will post 0.95 earnings per share for the current fiscal year.

Barrick Gold Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 31st will be issued a $0.10 dividend. The ex-dividend date is Friday, May 31st. This is a positive change from Barrick Gold’s previous quarterly dividend of $0.07. This represents a $0.40 annualized dividend and a dividend yield of 2.32%. Barrick Gold’s payout ratio is 48.78%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GOLD. StockNews.com raised shares of Barrick Gold from a “hold” rating to a “buy” rating in a research note on Wednesday, February 21st. 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 research note on Wednesday, February 7th. Royal Bank of Canada reissued an “outperform” rating and issued a $18.00 target price on shares of Barrick Gold in a research note on Monday, March 4th. BMO Capital Markets cut their target price on shares of Barrick Gold from $27.00 to $26.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 17th. Finally, Argus reaffirmed a “hold” rating on shares of Barrick Gold in a report on Monday, February 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Barrick Gold has a consensus rating of “Moderate Buy” and a consensus price target of $21.60.

Barrick Gold Company 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.