Two Sigma Investments LP Purchases 142,697 Shares of Barrick Gold Corp (NYSE:B)

Two Sigma Investments LP grew its stake in shares of Barrick Gold Corp (NYSE:B) (TSE:ABX) by 5.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 2,700,606 shares of the gold and copper producer’s stock after acquiring an additional 142,697 shares during the quarter. Two Sigma Investments LP owned about 0.16% of Barrick Gold worth $41,859,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Crowley Wealth Management Inc. acquired a new position in shares of Barrick Gold during the 4th quarter worth $26,000. Strategic Investment Solutions Inc. IL bought a new position in Barrick Gold in the 4th quarter valued at approximately $37,000. First Horizon Advisors Inc. boosted its position in Barrick Gold by 619.7% during the 4th quarter. First Horizon Advisors Inc. now owns 3,073 shares of the gold and copper producer’s stock worth $48,000 after buying an additional 2,646 shares during the period. Pingora Partners LLC grew its holdings in Barrick Gold by 250.0% during the 4th quarter. Pingora Partners LLC now owns 3,500 shares of the gold and copper producer’s stock worth $54,000 after acquiring an additional 2,500 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its position in Barrick Gold by 196.9% in the 4th quarter. Exchange Traded Concepts LLC now owns 4,178 shares of the gold and copper producer’s stock valued at $65,000 after acquiring an additional 2,771 shares during the period. Institutional investors own 90.82% of the company’s stock.

Barrick Gold Price Performance

Shares of Barrick Gold stock opened at $18.69 on Wednesday. The company’s fifty day simple moving average is $19.04 and its two-hundred day simple moving average is $17.73. Barrick Gold Corp has a 12-month low of $17.41 and a 12-month high of $47.50. The firm has a market cap of $32.14 billion, a PE ratio of 15.20, a price-to-earnings-growth ratio of 0.44 and a beta of 0.25. 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:B) (TSE:ABX) last issued its quarterly earnings data on Wednesday, May 7th. The gold and copper producer reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.06. The firm had revenue of $3 billion for the quarter, compared to analyst estimates of $3.15 billion. Barrick Gold had a return on equity of 6.76% and a net margin of 16.59%. The business’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same period last year, the company earned $0.19 EPS. As a group, equities analysts expect that Barrick Gold Corp will post 1.47 EPS for the current year.

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

Barrick Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be issued a $0.10 dividend. The ex-dividend date is Friday, May 30th. This represents a $0.40 annualized dividend and a yield of 2.14%. Barrick Gold’s dividend payout ratio (DPR) is presently 30.08%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on B. TD Securities reduced their price objective on shares of Barrick Gold from $24.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. BMO Capital Markets started coverage on Barrick Gold in a research note on Wednesday, April 16th. They issued a “market perform” rating for the company. Scotiabank raised their price objective on Barrick Gold from $20.00 to $22.00 and gave the stock a “sector perform” rating in a research report on Monday, April 14th. Citigroup decreased their target price on shares of Barrick Gold from $21.00 to $17.00 and set a “neutral” rating for the company in a research report on Monday, March 31st. Finally, Stifel Canada upgraded shares of Barrick Gold to a “strong-buy” rating in a research report on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.