Coastal Bridge Advisors LLC Purchases 1,045 Shares of Barrick Gold Corp (NYSE:GOLD)

Coastal Bridge Advisors LLC lifted its holdings in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 7.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,909 shares of the gold and copper producer’s stock after acquiring an additional 1,045 shares during the period. Coastal Bridge Advisors LLC’s holdings in Barrick Gold were worth $231,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Synovus Financial Corp bought a new position in shares of Barrick Gold during the third quarter worth $210,000. Principal Financial Group Inc. boosted its position in shares of Barrick Gold by 19.9% during the 3rd quarter. Principal Financial Group Inc. now owns 483,613 shares of the gold and copper producer’s stock valued at $9,630,000 after acquiring an additional 80,366 shares during the last quarter. Bangor Savings Bank increased its position in Barrick Gold by 4.5% in the fourth quarter. Bangor Savings Bank now owns 22,025 shares of the gold and copper producer’s stock worth $341,000 after purchasing an additional 956 shares during the last quarter. City State Bank increased its position in Barrick Gold by 200.0% in the fourth quarter. City State Bank now owns 7,500 shares of the gold and copper producer’s stock worth $116,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Oak Asset Management LLC lifted its position in Barrick Gold by 60.6% during the fourth quarter. Oak Asset Management LLC now owns 23,850 shares of the gold and copper producer’s stock valued at $370,000 after purchasing an additional 9,000 shares during the last quarter. Institutional investors own 62.85% of the company’s stock.

Barrick Gold Stock Up 1.0 %

GOLD stock opened at $19.42 on Thursday. The stock has a market capitalization of $33.39 billion, a PE ratio of 15.79, a price-to-earnings-growth ratio of 0.44 and a beta of 0.25. Barrick Gold Corp has a 52 week low of $15.11 and a 52 week high of $21.35. The company has a quick ratio of 2.15, a current ratio of 2.89 and a debt-to-equity ratio of 0.14. The firm has a 50 day moving average of $19.05 and a 200 day moving average of $17.86.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its earnings results on Wednesday, February 12th. The gold and copper producer reported $0.46 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.46. Barrick Gold had a return on equity of 6.76% and a net margin of 16.59%. Sell-side analysts forecast 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 permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the gold and copper producer to buy up to 3.2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Barrick Gold Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.06%. Barrick Gold’s payout ratio is presently 32.52%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. National Bank Financial upgraded shares of Barrick Gold to a “hold” rating in a research report on Friday, March 21st. Citigroup decreased their price target on Barrick Gold from $21.00 to $17.00 and set a “neutral” rating on the stock in a report on Monday, March 31st. Raymond James lifted their price objective on shares of Barrick Gold from $23.00 to $23.50 and gave the stock an “outperform” rating in a research note on Monday, March 31st. TD Securities reduced their target price on shares of Barrick Gold from $24.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Finally, Bank of America cut shares of Barrick Gold from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $21.00 to $18.00 in a research note on Monday, January 27th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.05.

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.