Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. Makes New $5.66 Million Investment in Barrick Gold Corp (NYSE:B)

Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. purchased a new position in shares of Barrick Gold Corp (NYSE:B) (TSE:ABX) during the 4th quarter, Holdings Channel.com reports. The fund purchased 365,238 shares of the gold and copper producer’s stock, valued at approximately $5,661,000. Barrick Gold comprises approximately 16.7% of Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A.’s portfolio, making the stock its 3rd biggest position.

Several other large investors have also recently made changes to their positions in B. Crowley Wealth Management Inc. purchased a new position in shares of Barrick Gold in the fourth quarter worth $26,000. Vega Investment Solutions purchased a new position in shares of Barrick Gold in the fourth quarter worth $31,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Barrick Gold in the fourth quarter worth $37,000. First Horizon Advisors Inc. increased its stake in shares of Barrick Gold by 619.7% in the fourth quarter. First Horizon Advisors Inc. now owns 3,073 shares of the gold and copper producer’s stock worth $48,000 after buying an additional 2,646 shares during the period. Finally, Pingora Partners LLC increased its stake in shares of Barrick Gold by 250.0% in the fourth quarter. Pingora Partners LLC now owns 3,500 shares of the gold and copper producer’s stock worth $54,000 after buying an additional 2,500 shares during the period. 90.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on B. National Bankshares reaffirmed an “outperform” rating on shares of Barrick Gold in a research note on Wednesday, April 2nd. Raymond James boosted their price objective on shares of Barrick Gold from $23.00 to $23.50 and gave the company an “outperform” rating in a research report on Monday, March 31st. Stifel Canada raised shares of Barrick Gold to a “strong-buy” rating in a research report on Wednesday, March 19th. TD Securities reduced their price objective on shares of Barrick Gold from $24.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Finally, National Bank Financial raised shares of Barrick Gold to a “hold” rating in a research report on Friday, March 21st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $24.05.

Barrick Gold Stock Performance

Shares of B stock opened at $19.08 on Friday. Barrick Gold Corp has a 12 month low of $17.41 and a 12 month high of $47.50. The stock has a market cap of $32.80 billion, a PE ratio of 15.51, a price-to-earnings-growth ratio of 0.44 and a beta of 0.25. The company has a current ratio of 2.89, a quick ratio of 2.15 and a debt-to-equity ratio of 0.14. The company’s fifty day moving average price is $19.03 and its 200-day moving average price is $17.73.

Barrick Gold (NYSE:B) (TSE:ABX) last announced its earnings results on Wednesday, May 7th. The gold and copper producer reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.06. Barrick Gold had a net margin of 16.59% and a return on equity of 6.76%. The firm had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter in the previous year, the business posted $0.19 EPS. The company’s quarterly revenue was up 13.9% on a year-over-year basis. On average, equities analysts expect that Barrick Gold Corp will post 1.47 EPS for the current fiscal year.

Barrick Gold announced that its Board of Directors has approved a share buyback plan on Wednesday, February 12th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the gold and copper producer to reacquire up to 3.2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Barrick Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date is Friday, May 30th. Barrick Gold’s dividend payout ratio (DPR) is presently 30.08%.

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.