Comprehensive Money Management Services LLC Takes $673,000 Position in Barrick Gold Corp (NYSE:B)

Comprehensive Money Management Services LLC purchased a new position in Barrick Gold Corp (NYSE:B - Free Report) TSE: ABX in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 43,405 shares of the gold and copper producer's stock, valued at approximately $673,000.

Other institutional investors have also recently made changes to their positions in the company. Park Square Financial Group LLC purchased a new position in shares of Barrick Gold in the fourth quarter valued at about $71,000. Employees Retirement System of Texas boosted its holdings in shares of Barrick Gold by 252.8% during the 4th quarter. Employees Retirement System of Texas now owns 86,949 shares of the gold and copper producer's stock valued at $1,348,000 after purchasing an additional 62,302 shares during the last quarter. Ameriflex Group Inc. purchased a new position in shares of Barrick Gold during the fourth quarter valued at about $39,000. Mackenzie Financial Corp increased its holdings in shares of Barrick Gold by 1.9% in the fourth quarter. Mackenzie Financial Corp now owns 15,318,376 shares of the gold and copper producer's stock worth $237,280,000 after purchasing an additional 278,292 shares during the last quarter. Finally, Forum Financial Management LP purchased a new stake in shares of Barrick Gold in the fourth quarter worth about $213,000. Institutional investors own 90.82% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on B. Wall Street Zen started coverage on Barrick Gold in a report on Monday, May 12th. They set a "sell" rating for the company. 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. UBS Group upped their price target on shares of Barrick Gold from $22.00 to $25.00 and gave the company a "buy" rating in a research note on Friday, April 11th. National Bankshares reissued an "outperform" rating on shares of Barrick Gold in a research note on Wednesday, April 2nd. Finally, Royal Bank of Canada boosted their target price on shares of Barrick Gold from $22.00 to $23.00 and gave the stock an "outperform" rating in a report on Friday, April 4th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Barrick Gold has an average rating of "Moderate Buy" and a consensus target price of $24.05.

Barrick Gold Trading Up 1.1%

B traded up $0.20 on Friday, reaching $19.20. 16,844,095 shares of the company traded hands, compared to its average volume of 22,581,775. The company has a market cap of $33.01 billion, a P/E ratio of 15.61, a price-to-earnings-growth ratio of 0.44 and a beta of 0.25. The company has a quick ratio of 2.15, a current ratio of 2.89 and a debt-to-equity ratio of 0.14. Barrick Gold Corp has a one year low of $15.11 and a one year high of $21.35. The firm has a fifty day simple moving average of $19.02 and a two-hundred day simple moving average of $17.76.

Barrick Gold (NYSE:B - Get Free Report) TSE: ABX last issued its earnings results on Wednesday, May 7th. The gold and copper producer reported $0.35 earnings per share for the quarter, beating analysts' consensus estimates of $0.29 by $0.06. The business had revenue of $3 billion during the quarter, compared to analyst estimates of $3.15 billion. Barrick Gold had a return on equity of 6.76% and a net margin of 16.59%. Barrick Gold's revenue was up 13.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.19 EPS. As a group, equities research analysts expect that Barrick Gold Corp will post 1.47 earnings per share 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 shares. This repurchase authorization allows the gold and copper producer to buy up to 3.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.

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 issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend is Friday, May 30th. Barrick Gold's payout ratio is 30.08%.

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.