Allworth Financial LP Has $334,000 Holdings in Barrick Gold Corp (NYSE:GOLD)

Allworth Financial LP raised its holdings in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 1,864.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,174 shares of the gold and copper producer’s stock after buying an additional 20,096 shares during the quarter. Allworth Financial LP’s holdings in Barrick Gold were worth $334,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Van ECK Associates Corp lifted its holdings in shares of Barrick Gold by 2.1% during the fourth quarter. Van ECK Associates Corp now owns 76,299,834 shares of the gold and copper producer’s stock worth $1,182,641,000 after buying an additional 1,563,361 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Barrick Gold by 2.7% during the third quarter. Wellington Management Group LLP now owns 54,712,508 shares of the gold and copper producer’s stock worth $1,088,484,000 after buying an additional 1,458,084 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Barrick Gold by 33.3% during the third quarter. The Manufacturers Life Insurance Company now owns 11,431,497 shares of the gold and copper producer’s stock worth $227,524,000 after buying an additional 2,854,055 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Barrick Gold by 221.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,027,811 shares of the gold and copper producer’s stock worth $199,427,000 after buying an additional 6,904,934 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Barrick Gold by 9.5% in the third quarter. Geode Capital Management LLC now owns 8,047,255 shares of the gold and copper producer’s stock valued at $162,140,000 after purchasing an additional 696,556 shares in the last quarter. 62.85% of the stock is currently owned by institutional investors and hedge funds.

Barrick Gold Stock Performance

Barrick Gold stock opened at $18.31 on Friday. 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 stock has a fifty day moving average price of $16.35 and a two-hundred day moving average price of $18.18. Barrick Gold Corp has a 52-week low of $14.27 and a 52-week high of $21.35. The firm has a market capitalization of $31.61 billion, a P/E ratio of 14.88, a P/E/G ratio of 0.44 and a beta of 0.55.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its quarterly earnings data on Wednesday, February 12th. The gold and copper producer reported $0.46 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.46. Barrick Gold had a return on equity of 6.76% and a net margin of 16.59%. As a group, analysts anticipate that Barrick Gold Corp will post 1.47 EPS for the current fiscal year.

Barrick Gold Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend is Friday, February 28th. Barrick Gold’s payout ratio is presently 32.52%.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on GOLD. Cibc World Mkts lowered Barrick Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 25th. CIBC lowered Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research note on Monday, November 25th. UBS Group lowered Barrick Gold from a “buy” rating to a “neutral” rating and cut their target price for the company from $23.00 to $22.00 in a research note on Wednesday, October 30th. Berenberg Bank upped their target price on Barrick Gold from $37.00 to $38.00 in a research note on Tuesday, November 26th. Finally, Raymond James cut their target price on Barrick Gold from $25.00 to $24.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.75.

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.