Barrick Gold Corp (NYSE:GOLD) Shares Acquired by Pingora Partners LLC

Pingora Partners LLC lifted its stake in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 250.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,500 shares of the gold and copper producer’s stock after purchasing an additional 2,500 shares during the quarter. Pingora Partners LLC’s holdings in Barrick Gold were worth $54,000 as of its most recent filing with the Securities and Exchange Commission.

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

Barrick Gold Stock Performance

Shares of GOLD stock opened at $19.42 on Friday. The firm has a market cap of $33.39 billion, a PE ratio of 15.79, a P/E/G ratio of 0.44 and a beta of 0.55. Barrick Gold Corp has a 12 month low of $15.11 and a 12 month high of $21.35. The company’s fifty day simple moving average is $18.93 and its 200-day simple moving average is $17.93. The company has a quick ratio of 2.15, a current ratio of 2.89 and a debt-to-equity ratio of 0.14.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its earnings results on Wednesday, February 12th. The gold and copper producer reported $0.46 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.46. Barrick Gold had a return on equity of 6.76% and a net margin of 16.59%. Equities research analysts expect that Barrick Gold Corp will post 1.47 EPS for the current fiscal year.

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

Barrick Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date was Friday, February 28th. Barrick Gold’s dividend payout ratio is currently 32.52%.

Wall Street Analysts Forecast Growth

GOLD has been the subject of a number of research reports. Bank of America lowered shares of Barrick Gold from a “buy” rating to a “neutral” rating and lowered their price target for the company from $21.00 to $18.00 in a report on Monday, January 27th. 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 report on Friday, April 4th. Stifel Canada upgraded shares of Barrick Gold to a “strong-buy” rating in a research report on Wednesday, March 19th. Raymond James boosted their price objective on shares of Barrick Gold from $23.00 to $23.50 and gave the company an “outperform” rating in a report on Monday, March 31st. Finally, Citigroup reduced their price target 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. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $24.05.

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.