Compass Rose Asset Management LP Invests $15.50 Million in Barrick Gold Corp (NYSE:GOLD)

Compass Rose Asset Management LP acquired a new stake in Barrick Gold Corp (NYSE:GOLD - Free Report) TSE: ABX in the 4th quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,000,000 shares of the gold and copper producer's stock, valued at approximately $15,500,000. Barrick Gold comprises 6.3% of Compass Rose Asset Management LP's holdings, making the stock its 9th largest position. Compass Rose Asset Management LP owned 0.06% of Barrick Gold as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GOLD. Synovus Financial Corp bought a new stake in Barrick Gold during the 3rd quarter worth approximately $210,000. Principal Financial Group Inc. raised its stake in shares of 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 valued at $9,630,000 after acquiring an additional 80,366 shares during the last quarter. Bangor Savings Bank boosted its holdings in Barrick Gold by 4.5% in the fourth quarter. Bangor Savings Bank now owns 22,025 shares of the gold and copper producer's stock valued at $341,000 after acquiring an additional 956 shares in the last quarter. Legend Financial Advisors Inc. purchased a new position in shares of Barrick Gold during the fourth quarter valued at about $700,000. Finally, City State Bank raised its position in shares of Barrick Gold by 200.0% in the 4th quarter. City State Bank now owns 7,500 shares of the gold and copper producer's stock worth $116,000 after acquiring an additional 5,000 shares in the last quarter. 62.85% of the stock is owned by hedge funds and other institutional investors.

Barrick Gold Stock Up 3.4 %

Shares of NYSE:GOLD opened at $19.27 on Wednesday. Barrick Gold Corp has a 12-month low of $15.11 and a 12-month high of $21.35. The stock's 50-day moving average price is $19.01 and its two-hundred day moving average price is $17.85. The firm has a market cap of $33.13 billion, a price-to-earnings ratio of 15.67, a PEG ratio of 0.44 and a beta of 0.25. 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 - Get Free Report) TSE: ABX last issued its quarterly earnings data on Wednesday, February 12th. The gold and copper producer reported $0.46 EPS for the quarter, hitting 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, research analysts forecast that Barrick Gold Corp will post 1.47 EPS for the current year.

Barrick Gold announced that its board has approved a stock repurchase 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 repurchase up to 3.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.

Barrick Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.08%. Barrick Gold's dividend payout ratio is currently 32.52%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GOLD. Bank of America cut shares of Barrick Gold from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $21.00 to $18.00 in a research note on Monday, January 27th. Stifel Canada raised Barrick Gold to a "strong-buy" rating in a research report on Wednesday, March 19th. StockNews.com upgraded Barrick Gold from a "buy" rating to a "strong-buy" rating in a research report on Saturday, April 5th. Scotiabank upped their price target on shares of Barrick Gold from $20.00 to $22.00 and gave the stock a "sector perform" rating in a research report on Monday, April 14th. Finally, National Bankshares reissued an "outperform" rating on shares of Barrick Gold in a report on Wednesday, April 2nd. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Barrick Gold presently has a consensus rating of "Moderate Buy" and an average price target of $24.05.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.