Compagnie Lombard Odier SCmA Makes New $159,000 Investment in Barrick Gold Corp (NYSE:B)

Compagnie Lombard Odier SCmA bought a new position in shares of Barrick Gold Corp (NYSE:B) (TSE:ABX) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 8,199 shares of the gold and copper producer’s stock, valued at approximately $159,000.

A number of other institutional investors have also recently bought and sold shares of B. Capital International Investors grew 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 acquiring an additional 19,189,830 shares during the period. Causeway Capital Management LLC bought a new position in shares of Barrick Gold during the fourth quarter worth $172,225,000. Wellington Management Group LLP boosted its position in shares of Barrick Gold by 17.5% during the fourth quarter. Wellington Management Group LLP now owns 64,310,800 shares of the gold and copper producer’s stock worth $996,802,000 after purchasing an additional 9,598,292 shares in the last quarter. FIL Ltd boosted its position in shares of Barrick Gold by 236.7% during the fourth quarter. FIL Ltd now owns 6,815,946 shares of the gold and copper producer’s stock worth $105,692,000 after purchasing an additional 4,791,663 shares in the last quarter. Finally, Capital International Inc. CA bought a new position in shares of Barrick Gold during the fourth quarter worth $57,991,000. Institutional investors and hedge funds own 90.82% of the company’s stock.

Barrick Gold Trading Up 3.4%

B opened at $20.93 on Friday. The stock has a market capitalization of $35.88 billion, a P/E ratio of 17.02, a P/E/G ratio of 0.44 and a beta of 0.27. Barrick Gold Corp has a 12 month low of $17.41 and a 12 month high of $47.50. The firm’s fifty day simple moving average is $19.23 and its 200 day simple moving average is $17.94. The company has a current ratio of 2.89, a quick ratio of 2.15 and a debt-to-equity ratio of 0.14.

Barrick Gold (NYSE:B) (TSE:ABX) last issued its quarterly earnings results on Wednesday, May 7th. The gold and copper producer reported $0.35 EPS for the quarter, topping the consensus estimate 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 period in the previous year, the firm posted $0.19 EPS. The company’s revenue for the quarter was up 13.9% on a year-over-year basis. As a group, research analysts anticipate that Barrick Gold Corp will post 1.47 EPS for the current fiscal year.

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 given a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.40 annualized dividend and a yield of 1.91%. Barrick Gold’s dividend payout ratio (DPR) is presently 30.08%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on B shares. CIBC lifted their price target on shares of Barrick Gold from $22.00 to $24.00 and gave the stock a “neutral” rating in a research report on Wednesday. UBS Group lifted their price target on shares of Barrick Gold from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, April 11th. Scotiabank lifted their price target on shares of Barrick Gold from $20.00 to $22.00 and gave the stock a “sector perform” rating in a research report on Monday, April 14th. TD Securities reduced their price target 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, Raymond James lifted their price target on shares of Barrick Gold from $23.00 to $23.50 and gave the stock an “outperform” rating in a research report on Monday, March 31st. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Barrick Gold presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.05.

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.