Insight 2811 Inc. Has $572,000 Holdings in Barrick Gold Corp (NYSE:GOLD)

Insight 2811 Inc. decreased its position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 4.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 36,872 shares of the gold and copper producer’s stock after selling 1,596 shares during the quarter. Insight 2811 Inc.’s holdings in Barrick Gold were worth $572,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. The Manufacturers Life Insurance Company boosted its stake in Barrick Gold by 33.3% during the third quarter. The Manufacturers Life Insurance Company now owns 11,431,497 shares of the gold and copper producer’s stock worth $227,524,000 after acquiring an additional 2,854,055 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Barrick Gold by 2.1% in the 4th quarter. Van ECK Associates Corp now owns 76,299,834 shares of the gold and copper producer’s stock worth $1,182,641,000 after buying an additional 1,563,361 shares during the last quarter. Wellington Management Group LLP boosted its position in Barrick Gold by 2.7% in the third quarter. Wellington Management Group LLP now owns 54,712,508 shares of the gold and copper producer’s stock worth $1,088,484,000 after purchasing an additional 1,458,084 shares during the last quarter. Ruffer LLP boosted its holdings in shares of Barrick Gold by 14.8% in the 4th quarter. Ruffer LLP now owns 10,269,848 shares of the gold and copper producer’s stock worth $159,180,000 after buying an additional 1,325,119 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Barrick Gold by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 68,358,533 shares of the gold and copper producer’s stock valued at $1,060,036,000 after acquiring an additional 1,195,585 shares during the last quarter. 62.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on GOLD. Scotiabank increased their price target on Barrick Gold from $19.00 to $20.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 18th. UBS Group raised Barrick Gold from a “neutral” rating to a “buy” rating and set a $22.00 target price for the company in a report on Wednesday, March 5th. Stifel Canada raised shares of Barrick Gold to a “strong-buy” rating in a report on Wednesday, March 19th. Berenberg Bank boosted their price objective on shares of Barrick Gold from $37.00 to $38.00 in a research note on Tuesday, November 26th. Finally, Raymond James lowered their target price on shares of Barrick Gold from $25.00 to $24.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. Five analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.75.

Barrick Gold Stock Performance

Barrick Gold stock opened at $18.91 on Tuesday. Barrick Gold Corp has a fifty-two week low of $0.25 and a fifty-two week high of $21.35. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.15 and a current ratio of 2.89. The stock has a market cap of $32.62 billion, a P/E ratio of 15.37, a price-to-earnings-growth ratio of 0.44 and a beta of 0.58. The firm’s fifty day moving average price is $17.57 and its 200-day moving average price is $18.03.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its quarterly earnings results on Wednesday, February 12th. The gold and copper producer reported $0.46 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.46. Barrick Gold had a return on equity of 6.76% and a net margin of 16.59%. On average, equities research analysts expect that Barrick Gold Corp will post 1.47 earnings per share for the current fiscal year.

Barrick Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date was Friday, February 28th. Barrick Gold’s payout ratio is currently 32.52%.

Barrick Gold announced that its Board of Directors has authorized a share buyback program on Wednesday, February 12th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the gold and copper producer to purchase up to 3.2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board 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.