Massachusetts Financial Services Co. MA Has $4.44 Million Holdings in Barrick Gold Corp (NYSE:GOLD)

Massachusetts Financial Services Co. MA reduced its position in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 11.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 286,633 shares of the gold and copper producer’s stock after selling 38,489 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Barrick Gold were worth $4,443,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of GOLD. Crowley Wealth Management Inc. acquired a new position in shares of Barrick Gold during the fourth quarter valued at about $26,000. First Horizon Advisors Inc. lifted its position in 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 valued at $48,000 after acquiring an additional 2,646 shares in the last quarter. Newbridge Financial Services Group Inc. acquired a new position in Barrick Gold during the 4th quarter valued at about $65,000. Exchange Traded Concepts LLC increased its holdings in Barrick Gold by 196.9% during 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. Finally, Principal Securities Inc. raised its stake in shares of Barrick Gold by 119.4% in the fourth quarter. Principal Securities Inc. now owns 4,848 shares of the gold and copper producer’s stock worth $75,000 after purchasing an additional 2,638 shares during the last quarter. Institutional investors and hedge funds own 62.85% of the company’s stock.

Barrick Gold Trading Down 0.3 %

Shares of GOLD stock opened at $17.62 on Tuesday. Barrick Gold Corp has a 1 year low of $15.11 and a 1 year high of $21.35. The company’s fifty day simple moving average is $18.20 and its two-hundred day simple moving average is $17.96. 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 stock has a market capitalization of $30.40 billion, a price-to-earnings ratio of 14.32, a PEG ratio of 0.44 and a beta of 0.55.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its quarterly earnings data on Wednesday, February 12th. The gold and copper producer reported $0.46 earnings per share (EPS) 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%. As a group, analysts anticipate that Barrick Gold Corp will post 1.47 earnings per share for the current year.

Barrick Gold announced that its board has initiated a stock buyback plan on Wednesday, February 12th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the gold and copper producer to buy up to 3.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Barrick Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date was Friday, February 28th. Barrick Gold’s dividend payout ratio (DPR) is presently 32.52%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on GOLD. Raymond James raised their price objective on Barrick Gold from $23.00 to $23.50 and gave the company an “outperform” rating in a research note on Monday, March 31st. StockNews.com upgraded shares of Barrick Gold from a “buy” rating to a “strong-buy” rating in a report on Saturday. UBS Group upgraded shares of Barrick Gold from a “neutral” rating to a “buy” rating and set a $22.00 price objective for the company in a research note on Wednesday, March 5th. Royal Bank of Canada boosted their target price on Barrick Gold from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, National Bankshares reaffirmed an “outperform” rating on shares of Barrick Gold in a research report on Wednesday, April 2nd. Six equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $23.79.

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.