New York State Common Retirement Fund Acquires Shares of 168,636 Barrick Gold Corp (NYSE:GOLD)

New York State Common Retirement Fund acquired a new stake in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 168,636 shares of the gold and copper producer’s stock, valued at approximately $2,614,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Atria Wealth Solutions Inc. raised its position in shares of Barrick Gold by 48.1% in the 4th quarter. Atria Wealth Solutions Inc. now owns 33,366 shares of the gold and copper producer’s stock worth $517,000 after purchasing an additional 10,840 shares during the last quarter. D.A. Davidson & CO. raised its position in shares of Barrick Gold by 32.2% in the 4th quarter. D.A. Davidson & CO. now owns 99,048 shares of the gold and copper producer’s stock worth $1,535,000 after purchasing an additional 24,145 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Barrick Gold by 10.7% in the 4th quarter. Principal Financial Group Inc. now owns 535,461 shares of the gold and copper producer’s stock worth $8,299,000 after purchasing an additional 51,848 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC purchased a new position in shares of Barrick Gold in the 4th quarter worth about $165,000. Finally, Allworth Financial LP raised its position in shares of Barrick Gold by 1,864.2% in the 4th quarter. Allworth Financial LP now owns 21,174 shares of the gold and copper producer’s stock worth $334,000 after purchasing an additional 20,096 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 equities analysts have recently issued reports on the company. Berenberg Bank lifted their price target on Barrick Gold from $37.00 to $38.00 in a research report on Tuesday, November 26th. Bank of America lowered Barrick Gold from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $21.00 to $18.00 in a research report on Monday, January 27th. CIBC lowered Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research report on Monday, November 25th. TD Securities decreased their target price on Barrick Gold from $24.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Finally, Citigroup decreased their target price on Barrick Gold from $23.00 to $17.00 and set a “neutral” rating for the company in a research report on Friday, December 20th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $23.75.

Barrick Gold Trading Down 0.3 %

Barrick Gold stock opened at $17.74 on Friday. The business has a 50-day simple moving average of $16.61 and a two-hundred day simple moving average of $18.19. The company has a market cap of $30.63 billion, a P/E ratio of 14.42, a P/E/G ratio of 0.44 and a beta of 0.55. Barrick Gold Corp has a 52-week low of $14.56 and a 52-week high of $21.35. 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 quarterly 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%. Analysts predict that Barrick Gold Corp will post 1.47 EPS for the current year.

Barrick Gold Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.26%. Barrick Gold’s dividend payout ratio is currently 32.52%.

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

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.