Ingalls & Snyder LLC Has $1.19 Million Holdings in Barrick Gold Corp (NYSE:GOLD)

Ingalls & Snyder LLC lifted its holdings in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 193.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 76,553 shares of the gold and copper producer’s stock after acquiring an additional 50,453 shares during the period. Ingalls & Snyder LLC’s holdings in Barrick Gold were worth $1,187,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. boosted its holdings in Barrick Gold by 19.9% during the third quarter. Principal Financial Group Inc. now owns 483,613 shares of the gold and copper producer’s stock worth $9,630,000 after buying an additional 80,366 shares during the last quarter. Mizuho Markets Americas LLC increased its stake in Barrick Gold by 21.7% in the third quarter. Mizuho Markets Americas LLC now owns 2,317,580 shares of the gold and copper producer’s stock valued at $46,097,000 after purchasing an additional 413,012 shares in the last quarter. Entropy Technologies LP acquired a new stake in Barrick Gold in the third quarter worth $3,711,000. Aigen Investment Management LP boosted its position in shares of Barrick Gold by 330.5% during the third quarter. Aigen Investment Management LP now owns 99,240 shares of the gold and copper producer’s stock worth $1,974,000 after purchasing an additional 76,186 shares in the last quarter. Finally, Crocodile Capital Partners GmbH increased its position in shares of Barrick Gold by 97.3% in the 4th quarter. Crocodile Capital Partners GmbH now owns 1,460,000 shares of the gold and copper producer’s stock valued at $22,630,000 after buying an additional 720,000 shares in the last quarter. Institutional investors and hedge funds own 62.85% of the company’s stock.

Barrick Gold Price Performance

Shares of NYSE GOLD opened at $18.47 on Friday. Barrick Gold Corp has a fifty-two week low of $13.76 and a fifty-two week high of $21.35. The stock has a market capitalization of $31.89 billion, a price-to-earnings ratio of 19.85, a PEG ratio of 0.39 and a beta of 0.55. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.65 and a quick ratio of 2.06. The business has a 50-day moving average of $16.20 and a 200-day moving average of $18.17.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its quarterly earnings results on Wednesday, February 12th. The gold and copper producer reported $0.46 earnings per share for the quarter, hitting the consensus estimate of $0.46. Barrick Gold had a return on equity of 5.82% and a net margin of 13.19%. As a group, sell-side analysts predict that Barrick Gold Corp will post 1.23 earnings per share for the current fiscal 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 given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend is Friday, February 28th. Barrick Gold’s dividend payout ratio (DPR) is currently 32.52%.

Barrick Gold declared that its board has authorized a stock repurchase program 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 purchase up to 3.2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

GOLD has been the topic of several recent analyst reports. TD Securities cut their price objective on Barrick Gold from $24.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday. Citigroup cut their price target on shares of Barrick Gold from $23.00 to $17.00 and set a “neutral” rating on the stock in a research note on Friday, December 20th. Berenberg Bank increased their price objective on shares of Barrick Gold from $37.00 to $38.00 in a research report on Tuesday, November 26th. UBS Group cut shares of Barrick Gold from a “buy” rating to a “neutral” rating and cut their price objective for the company from $23.00 to $22.00 in a research report on Wednesday, October 30th. Finally, Raymond James lowered their target price on Barrick Gold from $25.00 to $24.00 and set an “outperform” rating for the company in a report on Friday, February 7th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $23.67.

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.