Barrick Gold Corp (NYSE:GOLD) Position Raised by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. raised its position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 3.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 472,060 shares of the gold and copper producer’s stock after buying an additional 13,897 shares during the period. Rockefeller Capital Management L.P.’s holdings in Barrick Gold were worth $7,317,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of GOLD. Principal Financial Group Inc. grew 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 acquiring an additional 80,366 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Barrick Gold by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,073,717 shares of the gold and copper producer’s stock worth $78,637,000 after purchasing an additional 128,203 shares in the last quarter. Crocodile Capital Partners GmbH raised its holdings 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 worth $22,630,000 after purchasing an additional 720,000 shares in the last quarter. Legend Financial Advisors Inc. acquired a new stake in Barrick Gold during the fourth quarter valued at approximately $700,000. Finally, Gateway Investment Advisers LLC boosted its holdings in Barrick Gold by 6.9% during the fourth quarter. Gateway Investment Advisers LLC now owns 278,717 shares of the gold and copper producer’s stock worth $4,320,000 after buying an additional 17,980 shares in the last quarter. 62.85% of the stock is currently owned by institutional investors and hedge funds.

Barrick Gold Trading Up 1.7 %

Barrick Gold stock opened at $20.66 on Thursday. Barrick Gold Corp has a one year low of $15.11 and a one year high of $21.35. The company’s fifty day moving average price is $18.69 and its two-hundred day moving average price is $17.94. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.89 and a quick ratio of 2.15. The company has a market capitalization of $35.52 billion, a price-to-earnings ratio of 16.80, a PEG ratio of 0.44 and a beta of 0.55.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its quarterly earnings data 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 return on equity of 6.76% and a net margin of 16.59%. On average, analysts forecast that Barrick Gold Corp will post 1.47 earnings per share for the current fiscal year.

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

Barrick Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.94%. The ex-dividend date was Friday, February 28th. Barrick Gold’s dividend payout ratio is currently 32.52%.

Analyst Upgrades and Downgrades

GOLD has been the subject of a number of recent research reports. StockNews.com upgraded Barrick Gold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 5th. BMO Capital Markets began coverage on Barrick Gold in a research note on Wednesday. They issued a “market perform” rating on the stock. TD Securities reduced their price objective on shares of Barrick Gold from $24.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. National Bank Financial upgraded shares of Barrick Gold to a “hold” rating in a report on Friday, March 21st. Finally, Raymond James upped their price target on shares of Barrick Gold from $23.00 to $23.50 and gave the company an “outperform” rating in a research report on Monday, March 31st. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $24.21.

Barrick Gold Company 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.