Dimensional Fund Advisors LP Grows Position in Barrick Gold Corp (NYSE:GOLD)

Dimensional Fund Advisors LP lifted its stake in shares of Barrick Gold Corp (NYSE:GOLD - Free Report) TSE: ABX by 29.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,394,096 shares of the gold and copper producer's stock after acquiring an additional 1,934,560 shares during the period. Dimensional Fund Advisors LP owned 0.49% of Barrick Gold worth $130,105,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Crowley Wealth Management Inc. acquired a new stake in Barrick Gold in the 4th quarter valued at $26,000. Strategic Investment Solutions Inc. IL bought a new position in Barrick Gold in the 4th quarter valued at about $37,000. First Horizon Advisors Inc. lifted its holdings in shares of Barrick Gold by 619.7% in the fourth quarter. First Horizon Advisors Inc. now owns 3,073 shares of the gold and copper producer's stock valued at $48,000 after purchasing an additional 2,646 shares in the last quarter. Exchange Traded Concepts LLC lifted its stake in 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 valued at $65,000 after acquiring an additional 2,771 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new stake in Barrick Gold in the 4th quarter worth about $65,000. 62.85% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

GOLD has been the subject of several recent analyst reports. StockNews.com raised Barrick Gold from a "buy" rating to a "strong-buy" rating in a report on Saturday, April 5th. UBS Group lifted their target price on Barrick Gold from $22.00 to $25.00 and gave the stock a "buy" rating in a research note on Friday, April 11th. Raymond James raised their price objective on shares of Barrick Gold from $23.00 to $23.50 and gave the stock an "outperform" rating in a report on Monday, March 31st. TD Securities reduced their target price on shares of Barrick Gold from $24.00 to $23.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. Finally, Stifel Canada raised Barrick Gold to a "strong-buy" rating in a report on Wednesday, March 19th. Seven investment 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 stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $24.05.

Barrick Gold Price Performance

Shares of GOLD stock traded down $0.38 on Tuesday, reaching $18.93. The company's stock had a trading volume of 4,037,729 shares, compared to its average volume of 21,529,539. Barrick Gold Corp has a 12-month low of $15.11 and a 12-month high of $21.35. The stock's 50 day simple moving average is $18.96 and its 200-day simple moving average is $17.90. The company has a quick ratio of 2.15, a current ratio of 2.89 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $32.54 billion, a P/E ratio of 15.40, a PEG ratio of 0.44 and a beta of 0.55.

Barrick Gold (NYSE:GOLD - Get Free Report) TSE: ABX last issued its quarterly earnings results on Wednesday, February 12th. The gold and copper producer reported $0.46 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.46. Barrick Gold had a return on equity of 6.76% and a net margin of 16.59%. As a group, equities analysts predict that Barrick Gold Corp will post 1.47 earnings per share for the current fiscal year.

Barrick Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date was Friday, February 28th. Barrick Gold's dividend payout ratio is currently 32.52%.

Barrick Gold announced that its Board of Directors has initiated a stock buyback program on Wednesday, February 12th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the gold and copper producer to buy up to 3.2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board of directors 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.