Chancellor Financial Group WB LP Makes New $298,000 Investment in Barrick Gold Corp (NYSE:B)

Chancellor Financial Group WB LP purchased a new position in shares of Barrick Gold Corp (NYSE:B - Free Report) TSE: ABX in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 19,200 shares of the gold and copper producer's stock, valued at approximately $298,000.

A number of other institutional investors also recently bought and sold shares of B. Capital International Investors raised its position in Barrick Gold by 136.1% during the 4th quarter. Capital International Investors now owns 33,293,792 shares of the gold and copper producer's stock worth $516,055,000 after buying an additional 19,189,830 shares during the last quarter. Causeway Capital Management LLC purchased a new position in shares of Barrick Gold during the 4th quarter valued at approximately $172,225,000. Wellington Management Group LLP increased its holdings in shares of Barrick Gold by 17.5% during the 4th quarter. Wellington Management Group LLP now owns 64,310,800 shares of the gold and copper producer's stock valued at $996,802,000 after purchasing an additional 9,598,292 shares in the last quarter. FIL Ltd increased its holdings in shares of Barrick Gold by 236.7% during the 4th quarter. FIL Ltd now owns 6,815,946 shares of the gold and copper producer's stock valued at $105,692,000 after purchasing an additional 4,791,663 shares in the last quarter. Finally, Capital International Inc. CA purchased a new position in shares of Barrick Gold during the 4th quarter valued at approximately $57,991,000. 90.82% of the stock is owned by hedge funds and other institutional investors.

Barrick Gold Price Performance

NYSE B traded up $0.20 on Friday, hitting $19.20. The company had a trading volume of 16,844,190 shares, compared to its average volume of 1,812,765. Barrick Gold Corp has a 12-month low of $17.41 and a 12-month high of $47.50. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.89 and a quick ratio of 2.15. The company's fifty day moving average price is $19.02 and its 200-day moving average price is $17.76. The company has a market capitalization of $33.01 billion, a PE ratio of 15.61, a PEG ratio of 0.44 and a beta of 0.25.

Barrick Gold (NYSE:B - 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, topping 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 company had revenue of $3 billion for the quarter, compared to analysts' expectations of $3.15 billion. During the same quarter in the previous year, the company posted $0.19 EPS. The firm's quarterly revenue was up 13.9% on a year-over-year basis. As a group, analysts predict that Barrick Gold Corp will post 1.47 earnings per share for the current year.

Barrick Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be paid a dividend of $0.10 per share. The ex-dividend date is Friday, May 30th. This represents a $0.40 annualized dividend and a yield of 2.08%. Barrick Gold's dividend payout ratio (DPR) is presently 30.08%.

Barrick Gold declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, February 12th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the gold and copper producer to buy 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 stock is undervalued.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. National Bank Financial raised shares of Barrick Gold to a "hold" rating in a report on Friday, March 21st. National Bankshares reaffirmed an "outperform" rating on shares of Barrick Gold in a report on Wednesday, April 2nd. Citigroup cut their target price on shares of Barrick Gold from $21.00 to $17.00 and set a "neutral" rating for the company in a report on Monday, March 31st. Stifel Canada raised shares of Barrick Gold to a "strong-buy" rating in a report on Wednesday, March 19th. Finally, Wall Street Zen assumed coverage on shares of Barrick Gold in a report on Monday, May 12th. They set a "sell" rating for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Barrick Gold presently has a consensus rating of "Moderate Buy" and an average price target of $24.05.

About Barrick Gold

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.