Capital World Investors Has $821.79 Million Stock Position in Barrick Gold Corp (NYSE:GOLD)

Capital World Investors lifted its position in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 16.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 45,479,229 shares of the gold and copper producer’s stock after acquiring an additional 6,417,244 shares during the period. Capital World Investors’ holdings in Barrick Gold were worth $821,790,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Principal Securities Inc. acquired a new stake in shares of Barrick Gold during the fourth quarter worth $26,000. EverSource Wealth Advisors LLC increased its position in shares of Barrick Gold by 175.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,794 shares of the gold and copper producer’s stock worth $32,000 after purchasing an additional 1,143 shares during the period. Bruce G. Allen Investments LLC bought a new position in shares of Barrick Gold in the fourth quarter worth $35,000. Mark Sheptoff Financial Planning LLC bought a new position in shares of Barrick Gold in the fourth quarter worth $45,000. Finally, Optiver Holding B.V. bought a new position in Barrick Gold in the fourth quarter valued at about $46,000. Institutional investors and hedge funds own 62.85% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on GOLD shares. Scotiabank reduced their price target on Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating on the stock in a report on Tuesday, February 20th. CIBC reduced their price target on Barrick Gold from $27.00 to $23.00 and set an “outperform” rating on the stock in a report on Wednesday, February 7th. TD Securities lowered their target price on Barrick Gold from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Friday, February 16th. National Bank Financial reaffirmed a “sector perform overweight” rating on shares of Barrick Gold in a research report on Monday, April 8th. Finally, Raymond James reduced their price objective on Barrick Gold from $24.00 to $23.00 and set an “outperform” rating for the company in a research note on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $21.60.

Barrick Gold Price Performance

GOLD traded up $0.21 during trading on Wednesday, reaching $16.70. 15,510,298 shares of the company were exchanged, compared to its average volume of 21,967,180. The company’s 50-day moving average is $17.10 and its two-hundred day moving average is $16.53. The company has a market cap of $29.32 billion, a price-to-earnings ratio of 20.10, a P/E/G ratio of 0.43 and a beta of 0.59. The company has a quick ratio of 2.49, a current ratio of 3.32 and a debt-to-equity ratio of 0.15. Barrick Gold Corp has a 12-month low of $13.76 and a 12-month high of $18.95.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its quarterly earnings results on Wednesday, May 1st. The gold and copper producer reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.04. Barrick Gold had a return on equity of 4.88% and a net margin of 12.58%. The firm had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.74 billion. During the same quarter last year, the firm posted $0.14 EPS. The company’s revenue was up 3.9% compared to the same quarter last year. Research analysts forecast that Barrick Gold Corp will post 1.06 earnings per share for the current fiscal year.

Barrick Gold Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.40 annualized dividend and a dividend yield of 2.40%. This is a boost from Barrick Gold’s previous quarterly dividend of $0.07. Barrick Gold’s dividend payout ratio (DPR) is presently 48.78%.

Barrick Gold 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.