Voya Investment Management LLC Buys 16,571 Shares of Barrick Gold Corp (NYSE:GOLD)

Voya Investment Management LLC boosted its stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 65.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 42,051 shares of the gold and copper producer’s stock after purchasing an additional 16,571 shares during the quarter. Voya Investment Management LLC’s holdings in Barrick Gold were worth $652,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Keystone Financial Group lifted its stake in 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. VisionPoint Advisory Group LLC boosted its stake in Barrick Gold by 6.7% during the fourth quarter. VisionPoint Advisory Group LLC now owns 14,051 shares of the gold and copper producer’s stock valued at $224,000 after buying an additional 880 shares during the period. Townsquare Capital LLC grew its position in Barrick Gold by 0.3% during the fourth 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 in the last quarter. Mesirow Financial Investment Management Inc. increased its stake in Barrick Gold by 3.5% in the 4th quarter. Mesirow Financial Investment Management Inc. now owns 30,510 shares of the gold and copper producer’s stock worth $473,000 after acquiring an additional 1,035 shares during the last quarter. Finally, M&T Bank Corp raised its holdings in shares of Barrick Gold by 2.6% in the 4th quarter. M&T Bank Corp now owns 46,320 shares of the gold and copper producer’s stock valued at $718,000 after acquiring an additional 1,179 shares in the last quarter. Hedge funds and other institutional investors own 62.85% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on GOLD shares. Raymond James increased their price target on shares of Barrick Gold from $23.00 to $23.50 and gave the stock an “outperform” rating in a report on Monday, March 31st. TD Securities decreased their price objective on Barrick Gold from $24.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Bank of America lowered 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. National Bankshares reissued an “outperform” rating on shares of Barrick Gold in a research note on Wednesday, April 2nd. Finally, Citigroup cut their price objective on shares of Barrick Gold from $21.00 to $17.00 and set a “neutral” rating for the company in a research note on Monday, March 31st. Seven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.05.

Barrick Gold Price Performance

Shares of GOLD stock opened at $18.87 on Friday. The business’s fifty day moving average is $19.07 and its 200 day moving average is $17.85. 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 stock has a market cap of $32.44 billion, a price-to-earnings ratio of 15.34, a PEG ratio of 0.44 and a beta of 0.25. Barrick Gold Corp has a twelve month low of $15.11 and a twelve month high of $21.35.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its quarterly earnings data 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 business had revenue of $3 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same quarter in the previous year, the firm posted $0.19 earnings per share. Barrick Gold’s quarterly revenue was up 13.9% on a year-over-year basis. Research analysts expect that Barrick Gold Corp will post 1.47 EPS for the current fiscal year.

Barrick Gold Announces Dividend

The business also recently declared 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. The ex-dividend date is Friday, May 30th. This represents a $0.40 annualized dividend and a dividend yield of 2.12%. Barrick Gold’s payout ratio is presently 32.52%.

Barrick Gold announced that its board has approved a share 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 reacquire up to 3.2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

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.