O Shaughnessy Asset Management LLC Has $1.40 Million Holdings in Barrick Gold Corp (NYSE:GOLD)

O Shaughnessy Asset Management LLC lowered its stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 17.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 90,573 shares of the gold and copper producer’s stock after selling 18,838 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Barrick Gold were worth $1,403,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of GOLD. Van ECK Associates Corp increased its position in shares of Barrick Gold by 2.1% during 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 purchasing an additional 1,563,361 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Barrick Gold by 1.8% in the 4th 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 purchasing an additional 1,195,585 shares during the period. Wellington Management Group LLP increased its stake in Barrick Gold by 2.7% during the 3rd 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 acquiring an additional 1,458,084 shares during the period. Amundi raised its stake in Barrick Gold by 1.7% in the fourth quarter. Amundi now owns 14,120,278 shares of the gold and copper producer’s stock valued at $223,665,000 after purchasing an additional 236,116 shares in the last quarter. Finally, Ruffer LLP raised its position 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 valued at $159,180,000 after buying an additional 1,325,119 shares in the last quarter. 62.85% of the stock is owned by institutional investors and hedge funds.

Barrick Gold Trading Down 9.0 %

NYSE:GOLD opened at $17.64 on Friday. Barrick Gold Corp has a 52 week low of $15.11 and a 52 week high of $21.35. The company’s 50 day moving average price is $18.17 and its 200-day moving average price is $17.99. 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 $30.44 billion, a price-to-earnings ratio of 14.34, a PEG ratio of 0.44 and a beta of 0.58.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its 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 net margin of 16.59% and a return on equity of 6.76%. On average, equities research analysts forecast that Barrick Gold Corp will post 1.47 earnings per share for the current fiscal year.

Barrick Gold declared that its Board of Directors has initiated a stock buyback program 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 repurchase up to 3.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Barrick Gold Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.40 annualized dividend and a dividend yield of 2.27%. Barrick Gold’s dividend payout ratio (DPR) is presently 32.52%.

Analyst Ratings Changes

GOLD has been the topic of a number of research analyst reports. Raymond James raised their target price 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. Bank of America downgraded shares of Barrick Gold from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $21.00 to $18.00 in a research report on Monday, January 27th. TD Securities lowered their target price on Barrick Gold from $24.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Royal Bank of Canada increased their price target on Barrick Gold from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Scotiabank lifted their price objective on shares of Barrick Gold from $19.00 to $20.00 and gave the company a “sector perform” rating in a report on Tuesday, February 18th. Six 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 company’s stock. Based on data from MarketBeat, Barrick Gold currently has an average rating of “Moderate Buy” and an average price target of $23.79.

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.