Headlands Technologies LLC Boosts Position in Barrick Gold Corp (NYSE:GOLD)

Headlands Technologies LLC increased its holdings in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 133.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,990 shares of the gold and copper producer’s stock after purchasing an additional 6,862 shares during the quarter. Headlands Technologies LLC’s holdings in Barrick Gold were worth $217,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in GOLD. Wellington Management Group LLP lifted its stake in Barrick Gold by 35.0% in the third 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 during the last quarter. Vanguard Group Inc. lifted its stake in Barrick Gold by 1.6% in the third quarter. Vanguard Group Inc. now owns 62,567,785 shares of the gold and copper producer’s stock valued at $910,361,000 after buying an additional 956,452 shares during the last quarter. FMR LLC lifted its stake in 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 valued at $631,228,000 after buying an additional 4,731,559 shares during the last quarter. Mackenzie Financial Corp lifted its stake in Barrick Gold by 4.4% in the fourth quarter. Mackenzie Financial Corp now owns 18,783,046 shares of the gold and copper producer’s stock valued at $339,524,000 after buying an additional 787,829 shares during the last quarter. Finally, Ninety One UK Ltd lifted its stake in 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 buying an additional 1,870,059 shares during the last quarter. Hedge funds and other institutional investors own 62.85% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on GOLD. Sanford C. Bernstein cut Barrick Gold from an “outperform” rating to a “market perform” rating in a research note on Monday, January 8th. TD Securities cut their price target on Barrick Gold from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Friday, February 16th. Raymond James cut their price target on Barrick Gold from $24.00 to $23.00 and set an “outperform” rating for the company in a research note on Thursday, February 15th. National Bank Financial restated a “sector perform overweight” rating on shares of Barrick Gold in a research note on Monday, April 8th. Finally, Jefferies Financial Group started coverage on Barrick Gold in a report on Thursday, February 29th. They set a “buy” rating and a $21.00 price objective on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Barrick Gold presently has a consensus rating of “Moderate Buy” and an average price target of $20.06.

Barrick Gold Stock Up 0.1 %

Shares of NYSE:GOLD opened at $17.09 on Monday. The company has a quick ratio of 2.40, a current ratio of 3.16 and a debt-to-equity ratio of 0.15. Barrick Gold Corp has a 52-week low of $13.76 and a 52-week high of $20.75. The stock’s fifty day simple moving average is $16.14 and its 200-day simple moving average is $16.32. The company has a market capitalization of $30.00 billion, a P/E ratio of 23.74, a P/E/G ratio of 1.50 and a beta of 0.58.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its earnings results on Wednesday, February 14th. The gold and copper producer reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.06. Barrick Gold had a return on equity of 4.64% and a net margin of 11.16%. The firm had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same period in the prior year, the business posted $0.13 earnings per share. As a group, equities research analysts forecast that Barrick Gold Corp will post 0.95 earnings per share for the current fiscal year.

Barrick Gold Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were given a dividend of $0.074 per share. The ex-dividend date was Wednesday, February 28th. This represents a $0.30 annualized dividend and a yield of 1.73%. Barrick Gold’s dividend payout ratio (DPR) is presently 55.56%.

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.