Barrick Gold Corp (NYSE:GOLD) Shares Purchased by Wahed Invest LLC

Wahed Invest LLC grew its position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 12.5% during the fourth quarter, Holdings Channel reports. The firm owned 25,728 shares of the gold and copper producer’s stock after acquiring an additional 2,849 shares during the quarter. Wahed Invest LLC’s holdings in Barrick Gold were worth $399,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of GOLD. Van ECK Associates Corp lifted its stake in Barrick Gold by 2.1% during the 4th quarter. Van ECK Associates Corp now owns 76,299,834 shares of the gold and copper producer’s stock worth $1,182,641,000 after acquiring an additional 1,563,361 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Barrick Gold by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 68,358,533 shares of the gold and copper producer’s stock valued at $1,060,036,000 after purchasing an additional 1,195,585 shares in the last quarter. Wellington Management Group LLP increased its stake in Barrick Gold by 17.5% during the 4th quarter. Wellington Management Group LLP now owns 64,310,800 shares of the gold and copper producer’s stock worth $996,802,000 after buying an additional 9,598,292 shares during the period. Capital International Investors lifted its holdings in Barrick Gold by 136.1% during the 4th quarter. Capital International Investors now owns 33,293,792 shares of the gold and copper producer’s stock worth $516,055,000 after buying an additional 19,189,830 shares in the last quarter. Finally, Amundi boosted its position in Barrick Gold by 1.7% in the 4th quarter. Amundi now owns 14,120,278 shares of the gold and copper producer’s stock valued at $223,665,000 after buying an additional 236,116 shares during the period. 62.85% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GOLD has been the topic of several analyst reports. BMO Capital Markets initiated coverage on Barrick Gold in a research note on Wednesday, April 16th. They issued a “market perform” rating on the stock. StockNews.com upgraded Barrick Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 5th. Bank of America lowered shares of Barrick Gold from a “buy” rating to a “neutral” rating and cut their target price for the stock from $21.00 to $18.00 in a research note on Monday, January 27th. Scotiabank boosted their price target on shares of Barrick Gold from $20.00 to $22.00 and gave the stock a “sector perform” rating in a report on Monday, April 14th. Finally, National Bank Financial upgraded shares of Barrick Gold to a “hold” rating in a report on Friday, March 21st. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Barrick Gold currently has an average rating of “Moderate Buy” and a consensus target price of $24.05.

Barrick Gold Stock Up 0.3 %

Barrick Gold stock opened at $18.42 on Friday. The stock has a 50-day simple moving average of $18.98 and a 200-day simple moving average of $17.89. The company has a market capitalization of $31.67 billion, a P/E ratio of 14.98, a PEG ratio of 0.44 and a beta of 0.55. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.15 and a current ratio of 2.89. Barrick Gold Corp has a fifty-two week low of $15.11 and a fifty-two week high of $21.35.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its earnings results on Wednesday, February 12th. The gold and copper producer reported $0.46 EPS for the quarter, meeting analysts’ consensus estimates of $0.46. Barrick Gold had a net margin of 16.59% and a return on equity of 6.76%. Equities research 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 stock buyback plan on Wednesday, February 12th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the gold and copper producer to purchase up to 3.2% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Barrick Gold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend was Friday, February 28th. Barrick Gold’s dividend payout ratio is currently 32.52%.

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.