Crocodile Capital Partners GmbH Has $34.02 Million Stake in Barrick Gold Corp (NYSE:B)

Crocodile Capital Partners GmbH boosted its stake in shares of Barrick Gold Corp (NYSE:B) (TSE:ABX) by 19.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,749,973 shares of the gold and copper producer’s stock after buying an additional 289,973 shares during the period. Barrick Gold makes up about 45.4% of Crocodile Capital Partners GmbH’s investment portfolio, making the stock its largest holding. Crocodile Capital Partners GmbH owned 0.10% of Barrick Gold worth $34,019,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Keystone Financial Group increased its holdings in shares of Barrick Gold by 1.4% in the 4th quarter. Keystone Financial Group now owns 56,394 shares of the gold and copper producer’s stock worth $874,000 after purchasing an additional 753 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Barrick Gold by 55.8% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 2,193 shares of the gold and copper producer’s stock worth $43,000 after buying an additional 785 shares during the last quarter. VisionPoint Advisory Group LLC boosted its stake in shares of Barrick Gold by 6.7% in the 4th quarter. VisionPoint Advisory Group LLC now owns 14,051 shares of the gold and copper producer’s stock worth $224,000 after buying an additional 880 shares during the last quarter. 180 Wealth Advisors LLC boosted its stake in shares of Barrick Gold by 5.9% in the 1st quarter. 180 Wealth Advisors LLC now owns 16,452 shares of the gold and copper producer’s stock worth $320,000 after buying an additional 918 shares during the last quarter. Finally, Townsquare Capital LLC boosted its stake in shares of Barrick Gold by 0.3% in the 4th quarter. Townsquare Capital LLC now owns 285,355 shares of the gold and copper producer’s stock worth $4,423,000 after buying an additional 952 shares during the last quarter. Institutional investors own 90.82% of the company’s stock.

Barrick Gold Price Performance

NYSE:B opened at $19.20 on Monday. 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 business’s 50-day simple moving average is $19.01 and its two-hundred day simple moving average is $17.79. The stock has a market cap of $33.01 billion, a PE ratio of 15.61, a P/E/G ratio of 0.44 and a beta of 0.25. Barrick Gold Corp has a 52 week low of $17.41 and a 52 week high of $47.50.

Barrick Gold (NYSE:B) (TSE:ABX) last posted its quarterly 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. The business had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.15 billion. Barrick Gold had a return on equity of 6.76% and a net margin of 16.59%. The business’s quarterly revenue was up 13.9% on a year-over-year basis. During the same period last year, the firm earned $0.19 earnings per share. As a group, analysts forecast that Barrick Gold Corp will post 1.47 EPS for the current fiscal year.

Barrick Gold announced that its Board of Directors has initiated a stock buyback program on Wednesday, February 12th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the gold and copper producer to repurchase up to 3.2% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Barrick Gold Announces Dividend

The firm 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 dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.40 dividend on an annualized basis and a yield of 2.08%. Barrick Gold’s dividend payout ratio is presently 30.08%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on B. Wall Street Zen began coverage on Barrick Gold in a research note on Monday, May 12th. They issued a “sell” rating on the stock. National Bank Financial upgraded Barrick Gold to a “hold” rating in a research report on Friday, March 21st. TD Securities lowered their target price on Barrick Gold from $24.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Citigroup lowered their target price on Barrick Gold from $21.00 to $17.00 and set a “neutral” rating on the stock in a research report on Monday, March 31st. Finally, Stifel Canada upgraded Barrick Gold to a “strong-buy” rating in a research report on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Barrick Gold presently has a consensus rating of “Moderate Buy” and an average target price of $24.05.

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.