Russell Investments Group Ltd. Purchases 3,399 Shares of Barrick Gold Corp (NYSE:GOLD)

Russell Investments Group Ltd. raised its holdings in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 0.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,117,076 shares of the gold and copper producer’s stock after purchasing an additional 3,399 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.12% of Barrick Gold worth $38,398,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Wellington Management Group LLP lifted its stake in shares of Barrick Gold by 35.0% during the 3rd quarter. Wellington Management Group LLP now owns 63,551,991 shares of the gold and copper producer’s stock valued at $925,121,000 after buying an additional 16,485,756 shares in the last quarter. FMR LLC boosted its holdings in shares of Barrick Gold by 12.2% in the third quarter. FMR LLC now owns 43,399,480 shares of the gold and copper producer’s stock worth $631,228,000 after acquiring an additional 4,731,559 shares during the period. Ninety One UK Ltd grew its position in shares of Barrick Gold by 13.2% in the fourth quarter. Ninety One UK Ltd now owns 16,022,022 shares of the gold and copper producer’s stock valued at $289,838,000 after purchasing an additional 1,870,059 shares in the last quarter. Mackenzie Financial Corp grew its position in shares of Barrick Gold by 10.9% in the third quarter. Mackenzie Financial Corp now owns 17,995,217 shares of the gold and copper producer’s stock valued at $255,406,000 after purchasing an additional 1,769,110 shares in the last quarter. Finally, Addenda Capital Inc. raised its stake in shares of Barrick Gold by 88.1% during the 4th quarter. Addenda Capital Inc. now owns 3,105,335 shares of the gold and copper producer’s stock valued at $56,176,000 after purchasing an additional 1,454,220 shares during the period. Institutional investors own 62.85% of the company’s stock.

Barrick Gold Stock Up 1.3 %

Shares of Barrick Gold stock opened at $17.32 on Tuesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.40 and a current ratio of 3.16. Barrick Gold Corp has a 52-week low of $13.76 and a 52-week high of $20.75. The company’s 50 day moving average price is $16.19 and its 200-day moving average price is $16.34. The stock has a market capitalization of $30.41 billion, a price-to-earnings ratio of 24.06, a P/E/G ratio of 1.50 and a beta of 0.58.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its quarterly earnings results on Wednesday, February 14th. The gold and copper producer reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.06. The business had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.13 billion. Barrick Gold had a net margin of 11.16% and a return on equity of 4.64%. During the same quarter last year, the firm earned $0.13 EPS. Equities research analysts forecast that Barrick Gold Corp will post 0.95 EPS for the current year.

Barrick Gold Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were issued a $0.074 dividend. This represents a $0.30 annualized dividend and a yield of 1.71%. The ex-dividend date was Wednesday, February 28th. Barrick Gold’s dividend payout ratio (DPR) is currently 55.56%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on GOLD shares. Scotiabank reduced their target price on Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating for the company in a report on Tuesday, February 20th. CIBC lowered their price target on Barrick Gold from $27.00 to $23.00 and set an “outperform” rating on the stock in a report on Wednesday, February 7th. National Bank Financial reissued a “sector perform overweight” rating on shares of Barrick Gold in a report on Monday, April 8th. Argus reaffirmed a “hold” rating on shares of Barrick Gold in a research note on Monday, February 26th. Finally, BMO Capital Markets cut their price target on shares of Barrick Gold from $27.00 to $26.00 and set an “outperform” rating for the company in a research note on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $20.06.

About Barrick Gold

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.