Compass Rose Asset Management LP Purchases Shares of 1,000,000 Barrick Gold Corp (NYSE:GOLD)

Compass Rose Asset Management LP bought a new stake in Barrick Gold Corp (NYSE:GOLD - Free Report) TSE: ABX in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,000,000 shares of the gold and copper producer's stock, valued at approximately $15,500,000. Barrick Gold makes up about 6.3% of Compass Rose Asset Management LP's investment portfolio, making the stock its 9th largest holding. Compass Rose Asset Management LP owned about 0.06% of Barrick Gold as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GOLD. Crowley Wealth Management Inc. bought a new stake in Barrick Gold in the 4th quarter valued at $26,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Barrick Gold during the 4th quarter worth approximately $37,000. First Horizon Advisors Inc. lifted its stake in Barrick Gold by 619.7% during the fourth quarter. First Horizon Advisors Inc. now owns 3,073 shares of the gold and copper producer's stock worth $48,000 after purchasing an additional 2,646 shares during the last quarter. Pingora Partners LLC increased its stake in shares of Barrick Gold by 250.0% in the 4th quarter. Pingora Partners LLC now owns 3,500 shares of the gold and copper producer's stock valued at $54,000 after purchasing an additional 2,500 shares during the last quarter. Finally, Exchange Traded Concepts LLC raised its holdings in shares of Barrick Gold by 196.9% during 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 in the last quarter. 62.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GOLD has been the subject of several research reports. Citigroup dropped their price objective on shares of Barrick Gold from $21.00 to $17.00 and set a "neutral" rating for the company in a research note on Monday, March 31st. National Bankshares reissued an "outperform" rating on shares of Barrick Gold in a report on Wednesday, April 2nd. Raymond James raised their price target on shares of Barrick Gold from $23.00 to $23.50 and gave the company an "outperform" rating in a research note on Monday, March 31st. UBS Group increased their price target on Barrick Gold from $22.00 to $25.00 and gave the stock a "buy" rating in a report on Friday, April 11th. Finally, Royal Bank of Canada raised their price objective on Barrick Gold from $22.00 to $23.00 and gave the company an "outperform" rating in a research note on Friday, April 4th. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Barrick Gold has an average rating of "Moderate Buy" and a consensus target price of $24.05.

Barrick Gold Price Performance

Shares of Barrick Gold stock traded down $0.58 on Friday, hitting $18.83. 21,204,009 shares of the company traded hands, compared to its average volume of 21,676,024. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.15 and a current ratio of 2.89. The business has a 50-day simple moving average of $19.09 and a 200 day simple moving average of $17.81. Barrick Gold Corp has a 52 week low of $15.11 and a 52 week high of $21.35. The stock has a market capitalization of $32.37 billion, a P/E ratio of 15.30, a price-to-earnings-growth ratio of 0.44 and a beta of 0.25.

Barrick Gold (NYSE:GOLD - Get Free Report) TSE: ABX last announced its earnings results on Wednesday, May 7th. The gold and copper producer reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.06. Barrick Gold had a net margin of 16.59% and a return on equity of 6.76%. The firm had revenue of $3 billion for the quarter, compared to analysts' expectations of $3.15 billion. During the same period in the prior year, the company earned $0.19 EPS. The business's revenue was up 13.9% compared to the same quarter last year. Research analysts expect that Barrick Gold Corp will post 1.47 earnings per share for the current fiscal year.

Barrick Gold Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend is Friday, May 30th. Barrick Gold's dividend payout ratio is currently 30.08%.

Barrick Gold announced that its Board of Directors has authorized a share repurchase 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 buy up to 3.2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's board of directors believes its shares are undervalued.

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.