Union Bancaire Privee UBP SA Acquires Shares of 33,124 Barrick Gold Corp (NYSE:GOLD)

Union Bancaire Privee UBP SA acquired a new stake in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) during the fourth quarter, Holdings Channel reports. The fund acquired 33,124 shares of the gold and copper producer’s stock, valued at approximately $499,000.

Other large investors have also recently added to or reduced their stakes in the company. JFS Wealth Advisors LLC lifted its position in shares of Barrick Gold by 451.7% in the 3rd quarter. JFS Wealth Advisors LLC now owns 1,909 shares of the gold and copper producer’s stock worth $38,000 after buying an additional 1,563 shares during the last quarter. First Horizon Advisors Inc. lifted its position in shares of Barrick Gold by 619.7% in the 4th quarter. First Horizon Advisors Inc. now owns 3,073 shares of the gold and copper producer’s stock worth $48,000 after buying an additional 2,646 shares during the last quarter. BNP Paribas lifted its position in shares of Barrick Gold by 221.7% in the 3rd quarter. BNP Paribas now owns 3,066 shares of the gold and copper producer’s stock worth $62,000 after buying an additional 2,113 shares during the last quarter. Exchange Traded Concepts LLC lifted its position in shares of Barrick Gold by 196.9% in the 4th quarter. Exchange Traded Concepts LLC now owns 4,178 shares of the gold and copper producer’s stock worth $65,000 after buying an additional 2,771 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new position in shares of Barrick Gold in the 4th quarter worth about $65,000. 62.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on GOLD shares. Berenberg Bank raised their price target on shares of Barrick Gold from $37.00 to $38.00 in a research report on Tuesday, November 26th. Bank of America downgraded shares of Barrick Gold from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $21.00 to $18.00 in a research report on Monday, January 27th. UBS Group downgraded 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. Citigroup cut their price objective on shares of Barrick Gold from $23.00 to $17.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th. Finally, Raymond James cut their price objective on shares of Barrick Gold from $25.00 to $24.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Barrick Gold has a consensus rating of “Moderate Buy” and a consensus price target of $23.75.

Barrick Gold Stock Down 0.2 %

Barrick Gold stock opened at $18.27 on Tuesday. The stock has a market cap of $31.55 billion, a price-to-earnings ratio of 14.85, a PEG ratio of 0.44 and a beta of 0.55. The company has a current ratio of 2.89, a quick ratio of 2.15 and a debt-to-equity ratio of 0.14. The company’s 50-day moving average price is $16.42 and its two-hundred day moving average price is $18.21. Barrick Gold Corp has a 52 week low of $14.27 and a 52 week high of $21.35.

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

Barrick Gold Announces Dividend

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

Barrick Gold declared that its board has approved a stock buyback plan on Wednesday, February 12th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the gold and copper producer to reacquire up to 3.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

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.