Flputnam Investment Management Co. Raises Position in Barrick Gold Corp (NYSE:GOLD)

Flputnam Investment Management Co. grew its holdings in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 25.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 135,725 shares of the gold and copper producer’s stock after purchasing an additional 27,468 shares during the period. Flputnam Investment Management Co.’s holdings in Barrick Gold were worth $2,455,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Creative Financial Designs Inc. ADV increased its position in shares of Barrick Gold by 7.1% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 9,100 shares of the gold and copper producer’s stock valued at $165,000 after acquiring an additional 600 shares during the period. Stratos Wealth Partners LTD. grew its position in Barrick Gold by 5.3% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 13,714 shares of the gold and copper producer’s stock worth $200,000 after purchasing an additional 689 shares during the period. Legacy Wealth Asset Management LLC grew its position in Barrick Gold by 2.9% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 24,555 shares of the gold and copper producer’s stock worth $357,000 after purchasing an additional 694 shares during the period. A. D. Beadell Investment Counsel Inc. grew its position in Barrick Gold by 1.2% during the 4th quarter. A. D. Beadell Investment Counsel Inc. now owns 59,825 shares of the gold and copper producer’s stock worth $1,082,000 after purchasing an additional 700 shares during the period. Finally, Fifth Third Bancorp grew its position in Barrick Gold by 13.1% during the 3rd quarter. Fifth Third Bancorp now owns 6,067 shares of the gold and copper producer’s stock worth $88,000 after purchasing an additional 702 shares during the period. Hedge funds and other institutional investors own 62.85% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on GOLD. Sanford C. Bernstein downgraded Barrick Gold from an “outperform” rating to a “market perform” rating in a research report on Monday, January 8th. TD Securities cut their price target on Barrick Gold from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Friday, February 16th. National Bank Financial reaffirmed a “sector perform overweight” rating on shares of Barrick Gold in a research report on Monday, April 8th. BMO Capital Markets dropped their target price on Barrick Gold from $26.00 to $24.00 and set an “outperform” rating on the stock in a research report on Thursday, February 15th. Finally, Scotiabank dropped their target price on Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, February 20th. One research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Barrick Gold has an average rating of “Moderate Buy” and an average target price of $22.05.

Barrick Gold Stock Down 5.1 %

Shares of NYSE GOLD opened at $16.48 on Wednesday. Barrick Gold Corp has a 1 year low of $13.76 and a 1 year high of $20.75. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.16 and a quick ratio of 2.40. The company has a 50 day simple moving average of $15.78 and a 200-day simple moving average of $16.20. The company has a market capitalization of $28.93 billion, a P/E ratio of 22.89, a P/E/G ratio of 1.63 and a beta of 0.58.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its earnings results on Wednesday, February 14th. The gold and copper producer reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.06. Barrick Gold had a net margin of 11.16% and a return on equity of 4.64%. The firm had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter last year, the firm earned $0.13 EPS. On average, equities research analysts predict that Barrick Gold Corp will post 0.91 earnings per share for the current year.

Barrick Gold Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were issued a $0.074 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $0.30 annualized dividend and a yield of 1.80%. Barrick Gold’s dividend payout ratio (DPR) is presently 55.56%.

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.