Regal Partners Ltd Has $9.27 Million Position in Barrick Gold Corp (NYSE:GOLD)

Regal Partners Ltd cut its stake in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 55.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 597,830 shares of the gold and copper producer’s stock after selling 747,731 shares during the quarter. Barrick Gold accounts for about 0.9% of Regal Partners Ltd’s portfolio, making the stock its 23rd largest position. Regal Partners Ltd’s holdings in Barrick Gold were worth $9,266,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital International Investors grew its holdings in Barrick Gold by 136.1% during the 4th quarter. Capital International Investors now owns 33,293,792 shares of the gold and copper producer’s stock worth $516,055,000 after acquiring an additional 19,189,830 shares during the last quarter. Causeway Capital Management LLC bought a new stake in Barrick Gold during the 4th quarter worth approximately $172,225,000. Wellington Management Group LLP grew its holdings in Barrick Gold by 17.5% during the 4th quarter. Wellington Management Group LLP now owns 64,310,800 shares of the gold and copper producer’s stock worth $996,802,000 after acquiring an additional 9,598,292 shares during the last quarter. FIL Ltd grew its holdings in Barrick Gold by 236.7% during the 4th quarter. FIL Ltd now owns 6,815,946 shares of the gold and copper producer’s stock worth $105,692,000 after acquiring an additional 4,791,663 shares during the last quarter. Finally, Capital International Inc. CA bought a new stake in Barrick Gold during the 4th quarter worth approximately $57,991,000. 62.85% of the stock is owned by institutional investors.

Barrick Gold Price Performance

Shares of NYSE GOLD opened at $18.89 on Wednesday. Barrick Gold Corp has a twelve month low of $15.11 and a twelve month high of $21.35. The stock’s 50 day moving average price is $18.96 and its 200-day moving average price is $17.90. The company has a market capitalization of $32.48 billion, a PE ratio of 15.36, a PEG ratio of 0.44 and a beta of 0.55. 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 posted its quarterly earnings data on Wednesday, February 12th. The gold and copper producer reported $0.46 EPS for the quarter, meeting the consensus estimate of $0.46. Barrick Gold had a return on equity of 6.76% and a net margin of 16.59%. On average, equities analysts anticipate that Barrick Gold Corp will post 1.47 EPS for the current year.

Barrick Gold declared that its board has approved a stock repurchase plan on Wednesday, February 12th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the gold and copper producer to buy up to 3.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its shares are undervalued.

Barrick Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors 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 yield of 2.12%. Barrick Gold’s payout ratio is 32.52%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on GOLD shares. TD Securities reduced their target price on shares of Barrick Gold from $24.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Citigroup reduced their price objective on shares of Barrick Gold from $21.00 to $17.00 and set a “neutral” rating on the stock in a research note on Monday, March 31st. StockNews.com raised shares of Barrick Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 5th. Bank of America lowered shares of Barrick Gold from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $21.00 to $18.00 in a research note on Monday, January 27th. Finally, Stifel Canada raised shares of Barrick Gold to a “strong-buy” rating in a research note on Wednesday, March 19th. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.05.

Barrick Gold 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.