Lee Danner & Bass Inc. Invests $121,000 in Barrick Gold Corp (NYSE:GOLD)

Lee Danner & Bass Inc. purchased a new position in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 7,789 shares of the gold and copper producer’s stock, valued at approximately $121,000.

Other hedge funds have also recently made changes to their positions in the company. First Horizon Advisors Inc. boosted its position in shares of Barrick Gold by 619.7% in the 4th quarter. First Horizon Advisors Inc. now owns 3,073 shares of the gold and copper producer’s stock worth $48,000 after purchasing an additional 2,646 shares in the last quarter. BNP Paribas boosted its position in shares of Barrick Gold by 221.7% in the 3rd quarter. BNP Paribas now owns 3,066 shares of the gold and copper producer’s stock worth $62,000 after purchasing an additional 2,113 shares in the last quarter. Exchange Traded Concepts LLC boosted its position in shares of Barrick Gold by 196.9% in the 4th quarter. Exchange Traded Concepts LLC now owns 4,178 shares of the gold and copper producer’s stock worth $65,000 after purchasing an additional 2,771 shares in the last quarter. Newbridge Financial Services Group Inc. bought a new stake in shares of Barrick Gold in the 4th quarter worth approximately $65,000. Finally, Avior Wealth Management LLC boosted its position in shares of Barrick Gold by 24.1% in the 3rd quarter. Avior Wealth Management LLC now owns 3,399 shares of the gold and copper producer’s stock worth $68,000 after purchasing an additional 659 shares in the last quarter. 62.85% of the stock is owned by institutional investors.

Barrick Gold Trading Down 2.2 %

NYSE:GOLD opened at $18.86 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.89 and a quick ratio of 2.15. The firm has a market capitalization of $32.54 billion, a price-to-earnings ratio of 15.33, a price-to-earnings-growth ratio of 0.44 and a beta of 0.58. Barrick Gold Corp has a one year low of $0.25 and a one year high of $21.35. The business has a fifty day moving average price of $17.50 and a 200-day moving average price of $18.05.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its quarterly earnings data on Wednesday, February 12th. The gold and copper producer reported $0.46 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%. Sell-side analysts forecast 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 $0.10 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.40 annualized dividend and a dividend yield of 2.12%. Barrick Gold’s dividend payout ratio (DPR) is 32.52%.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Bank of America cut Barrick Gold from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $21.00 to $18.00 in a research report on Monday, January 27th. CIBC cut Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research report on Monday, November 25th. Scotiabank upped their price objective on Barrick Gold from $19.00 to $20.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 18th. Raymond James lowered their price objective on Barrick Gold from $25.00 to $24.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Finally, Stifel Canada raised Barrick Gold to a “strong-buy” rating in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Barrick Gold currently has an average rating of “Moderate Buy” and a consensus target price of $23.75.

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.