LaSalle St. Investment Advisors LLC Has $700,000 Stake in Barrick Gold Corp (NYSE:GOLD)

LaSalle St. Investment Advisors LLC boosted its holdings in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 111.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 45,216 shares of the gold and copper producer’s stock after acquiring an additional 23,816 shares during the quarter. LaSalle St. Investment Advisors LLC’s holdings in Barrick Gold were worth $700,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of GOLD. Principal Financial Group Inc. raised its holdings in shares of Barrick Gold by 19.9% in the 3rd 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 in the last quarter. Charles Schwab Investment Management Inc. grew its position in Barrick Gold by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,073,717 shares of the gold and copper producer’s stock valued at $78,637,000 after acquiring an additional 128,203 shares during the period. Crocodile Capital Partners GmbH raised its stake in Barrick Gold by 97.3% during the fourth quarter. Crocodile Capital Partners GmbH now owns 1,460,000 shares of the gold and copper producer’s stock worth $22,630,000 after acquiring an additional 720,000 shares in the last quarter. Legend Financial Advisors Inc. bought a new position in shares of Barrick Gold during the fourth quarter valued at $700,000. Finally, Gateway Investment Advisers LLC boosted its stake in shares of Barrick Gold by 6.9% in the 4th quarter. Gateway Investment Advisers LLC now owns 278,717 shares of the gold and copper producer’s stock valued at $4,320,000 after purchasing an additional 17,980 shares in the last quarter. Institutional investors own 62.85% of the company’s stock.

Barrick Gold Stock Up 7.0 %

GOLD stock opened at $20.59 on Monday. The stock has a market capitalization of $35.41 billion, a P/E ratio of 16.74, a P/E/G ratio of 0.44 and a beta of 0.55. Barrick Gold Corp has a fifty-two week low of $15.11 and a fifty-two week high of $21.35. The business has a 50-day moving average of $18.49 and a 200-day moving average of $17.90. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.89 and a quick ratio of 2.15.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its earnings results on Wednesday, February 12th. The gold and copper producer reported $0.46 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.46. Barrick Gold had a net margin of 16.59% and a return on equity of 6.76%. On average, sell-side analysts anticipate that Barrick Gold Corp will post 1.47 earnings per share for the current fiscal year.

Barrick Gold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend was Friday, February 28th. Barrick Gold’s dividend payout ratio (DPR) is presently 32.52%.

Barrick Gold declared that its Board of Directors has approved a stock buyback program on Wednesday, February 12th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the gold and copper producer to repurchase up to 3.2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

Several brokerages recently issued reports on GOLD. Stifel Canada raised shares of Barrick Gold to a “strong-buy” rating in a report on Wednesday, March 19th. Citigroup cut 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 note on Monday, March 31st. National Bankshares restated an “outperform” rating on shares of Barrick Gold in a research report on Wednesday, April 2nd. Bank of America cut shares of Barrick Gold from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $21.00 to $18.00 in a research report on Monday, January 27th. Finally, Royal Bank of Canada upped their price objective on Barrick Gold from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday, April 4th. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $24.04.

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.