Russell Investments Group Ltd. Purchases 3,399 Shares of Barrick Gold Corp (NYSE:GOLD)

Russell Investments Group Ltd. raised its position in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 0.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,117,076 shares of the gold and copper producer’s stock after purchasing an additional 3,399 shares during the quarter. Russell Investments Group Ltd.’s holdings in Barrick Gold were worth $38,398,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in GOLD. Bruce G. Allen Investments LLC purchased a new stake in shares of Barrick Gold during the fourth quarter valued at $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in Barrick Gold in the 4th quarter valued at about $61,000. Cary Street Partners Investment Advisory LLC grew its stake in Barrick Gold by 41.1% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 3,919 shares of the gold and copper producer’s stock worth $57,000 after acquiring an additional 1,142 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of Barrick Gold during the third quarter worth approximately $75,000. Finally, Fifth Third Bancorp raised its stake in shares of Barrick Gold by 13.1% during the third quarter. Fifth Third Bancorp now owns 6,067 shares of the gold and copper producer’s stock valued at $88,000 after acquiring an additional 702 shares in the last quarter. Institutional investors own 62.85% of the company’s stock.

Barrick Gold Stock Performance

GOLD stock opened at $17.32 on Tuesday. The firm has a 50-day simple moving average of $16.19 and a two-hundred day simple moving average of $16.34. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.40 and a current ratio of 3.16. Barrick Gold Corp has a one year low of $13.76 and a one year high of $20.75. The firm has a market cap of $30.41 billion, a price-to-earnings ratio of 24.06, a PEG ratio of 1.50 and a beta of 0.58.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its earnings results on Wednesday, February 14th. The gold and copper producer reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.06. The company had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.13 billion. Barrick Gold had a return on equity of 4.64% and a net margin of 11.16%. During the same period in the prior year, the company posted $0.13 EPS. On average, equities analysts forecast that Barrick Gold Corp will post 0.95 EPS for the current fiscal 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 paid a $0.074 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend was Wednesday, February 28th. Barrick Gold’s dividend payout ratio (DPR) is presently 55.56%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. CIBC reduced their price objective on Barrick Gold from $27.00 to $23.00 and set an “outperform” rating on the stock in a report on Wednesday, February 7th. BMO Capital Markets cut their price target on Barrick Gold from $27.00 to $26.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 17th. StockNews.com raised shares of Barrick Gold from a “hold” rating to a “buy” rating in a research note on Wednesday, February 21st. National Bank Financial reiterated a “sector perform overweight” rating on shares of Barrick Gold in a report on Monday, April 8th. Finally, Raymond James reduced their price target on shares of Barrick Gold from $24.00 to $23.00 and set an “outperform” rating for the company in a report on Thursday, February 15th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $20.06.

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.