Capital International Inc. CA Takes Position in Barrick Gold Corp (NYSE:GOLD)

Capital International Inc. CA acquired a new position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 3,740,042 shares of the gold and copper producer’s stock, valued at approximately $57,991,000. Capital International Inc. CA owned about 0.22% of Barrick Gold as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Bard Financial Services Inc. increased its stake in shares of Barrick Gold by 3.5% during the third quarter. Bard Financial Services Inc. now owns 55,875 shares of the gold and copper producer’s stock worth $1,111,000 after acquiring an additional 1,875 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in Barrick Gold during the 3rd quarter worth approximately $517,000. Synovus Financial Corp purchased a new position in shares of Barrick Gold during the 3rd quarter worth approximately $210,000. Inspire Trust Co. N.A. lifted its holdings in shares of Barrick Gold by 25.2% in the 3rd quarter. Inspire Trust Co. N.A. now owns 49,700 shares of the gold and copper producer’s stock valued at $989,000 after buying an additional 10,000 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of Barrick Gold by 19.9% in the third quarter. Principal Financial Group Inc. now owns 483,613 shares of the gold and copper producer’s stock valued at $9,630,000 after buying an additional 80,366 shares in the last quarter. 62.85% of the stock is owned by hedge funds and other institutional investors.

Barrick Gold Stock Performance

Shares of GOLD opened at $20.19 on Friday. Barrick Gold Corp has a 1 year low of $15.11 and a 1 year high of $21.35. The company’s 50 day simple moving average is $18.80 and its 200 day simple moving average is $17.94. The company has a market capitalization of $34.71 billion, a price-to-earnings ratio of 16.41, a PEG ratio of 0.44 and a beta of 0.55. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.15 and a current ratio of 2.89.

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 for the quarter, hitting analysts’ consensus estimates of $0.46. Barrick Gold had a return on equity of 6.76% and a net margin of 16.59%. On average, sell-side analysts predict that Barrick Gold Corp will post 1.47 EPS for the current year.

Barrick Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date was Friday, February 28th. Barrick Gold’s dividend payout ratio is currently 32.52%.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. National Bank Financial raised Barrick Gold to a “hold” rating in a report on Friday, March 21st. Citigroup lowered their target price on shares of Barrick Gold from $21.00 to $17.00 and set a “neutral” rating on the stock in a research report on Monday, March 31st. BMO Capital Markets initiated coverage on Barrick Gold in a research note on Wednesday. They set a “market perform” rating on the stock. Scotiabank raised their price objective on Barrick Gold from $20.00 to $22.00 and gave the company a “sector perform” rating in a research note on Monday, April 14th. Finally, TD Securities decreased 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. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $24.05.

Barrick Gold Company 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.