D.A. Davidson & CO. Has $1.54 Million Stock Holdings in Barrick Gold Corp (NYSE:GOLD)

D.A. Davidson & CO. boosted its holdings in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 32.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 99,048 shares of the gold and copper producer’s stock after buying an additional 24,145 shares during the quarter. D.A. Davidson & CO.’s holdings in Barrick Gold were worth $1,535,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of GOLD. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Barrick Gold by 221.1% during the 3rd 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 acquiring an additional 6,904,934 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Barrick Gold by 33.3% during the 3rd 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 acquiring an additional 2,854,055 shares during the period. Van ECK Associates Corp grew its holdings in Barrick Gold by 2.1% during the 4th 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 acquiring an additional 1,563,361 shares during the period. Wellington Management Group LLP grew its holdings in Barrick Gold by 2.7% during the 3rd 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 acquiring an additional 1,458,084 shares during the period. Finally, Quadrature Capital Ltd acquired a new stake in Barrick Gold during the 3rd quarter worth $20,379,000. Institutional investors and hedge funds own 62.85% of the company’s stock.

Barrick Gold Trading Down 2.7 %

GOLD opened at $18.31 on Friday. The stock 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 Corp has a 12 month low of $14.27 and a 12 month high of $21.35. The firm’s fifty day simple moving average is $16.38 and its 200 day simple moving average is $18.18. The company has a current ratio of 2.89, a quick ratio of 2.15 and a debt-to-equity ratio of 0.14.

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

Barrick Gold Dividend Announcement

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

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

Analyst Upgrades and Downgrades

A number of research firms have commented on GOLD. Berenberg Bank lifted their target price on shares of Barrick Gold from $37.00 to $38.00 in a report on Tuesday, November 26th. CIBC lowered shares of Barrick Gold from a “sector outperform” rating to a “neutral” rating in a report on Monday, November 25th. Raymond James decreased their price target on shares of Barrick Gold from $25.00 to $24.00 and set an “outperform” rating for the company in a report on Friday, February 7th. TD Securities decreased their price target on shares of Barrick Gold from $24.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Finally, Bank of America lowered shares of Barrick Gold from a “buy” rating to a “neutral” rating and decreased their price target for the company from $21.00 to $18.00 in a report on Monday, January 27th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $23.75.

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.