Legacy Wealth Asset Management LLC Takes $728,000 Position in Barrick Gold Corp (NYSE:B)

Legacy Wealth Asset Management LLC acquired a new stake in shares of Barrick Gold Corp (NYSE:B - Free Report) TSE: ABX during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 37,471 shares of the gold and copper producer's stock, valued at approximately $728,000.

Several other institutional investors have also added to or reduced their stakes in the business. GAMMA Investing LLC increased its position in shares of Barrick Gold by 1,844.0% during the first quarter. GAMMA Investing LLC now owns 6,007 shares of the gold and copper producer's stock valued at $117,000 after buying an additional 5,698 shares during the period. Nexus Investment Management ULC bought a new stake in shares of Barrick Gold during the first quarter valued at about $32,000. Moody National Bank Trust Division bought a new stake in shares of Barrick Gold during the first quarter valued at about $201,000. Versant Capital Management Inc bought a new stake in shares of Barrick Gold during the first quarter valued at about $97,000. Finally, Confluence Investment Management LLC increased its position in shares of Barrick Gold by 6.9% during the first quarter. Confluence Investment Management LLC now owns 31,798 shares of the gold and copper producer's stock valued at $618,000 after buying an additional 2,047 shares during the period. 90.82% of the stock is owned by hedge funds and other institutional investors.

Barrick Gold Trading Down 0.7%

Shares of NYSE:B traded down $0.14 during trading on Thursday, reaching $20.00. 15,521,108 shares of the company traded hands, compared to its average volume of 2,206,304. The firm has a market capitalization of $34.38 billion, a price-to-earnings ratio of 16.26, a P/E/G ratio of 0.44 and a beta of 0.25. Barrick Gold Corp has a 52-week low of $17.41 and a 52-week high of $47.50. The company has a current ratio of 2.89, a quick ratio of 2.15 and a debt-to-equity ratio of 0.14. The business's fifty day moving average is $19.08 and its 200-day moving average is $17.86.

Barrick Gold (NYSE:B - Get Free Report) TSE: ABX last announced its quarterly earnings results on Wednesday, May 7th. The gold and copper producer reported $0.35 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.06. Barrick Gold had a return on equity of 6.76% and a net margin of 16.59%. The company had revenue of $3 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same quarter last year, the firm posted $0.19 earnings per share. The firm's revenue was up 13.9% on a year-over-year basis. As a group, analysts forecast that Barrick Gold Corp will post 1.47 EPS for the current year.

Barrick Gold Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend is Friday, May 30th. Barrick Gold's payout ratio is 30.08%.

Barrick Gold declared that its board has initiated a share repurchase 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 reacquire up to 3.2% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on B shares. Royal Bank of Canada upped their price target on Barrick Gold from $23.00 to $26.00 and gave the company an "outperform" rating in a research report on Wednesday. Scotiabank upped their price objective 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. Stifel Canada upgraded shares of Barrick Gold to a "strong-buy" rating in a research report on Wednesday, March 19th. Wall Street Zen assumed coverage on shares of Barrick Gold in a research report on Monday, May 12th. They issued a "sell" rating on the stock. Finally, TD Securities decreased their price objective on shares of Barrick Gold from $24.00 to $23.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. 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. According to MarketBeat.com, Barrick Gold presently has an average rating of "Moderate Buy" and an average target price of $24.32.

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.