Brickwood Asset Management LLP Acquires Shares of 1,754,582 Barrick Gold Corp (NYSE:B)

Brickwood Asset Management LLP bought a new position in shares of 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 & Exchange Commission. The fund bought 1,754,582 shares of the gold and copper producer's stock, valued at approximately $27,193,000. Barrick Gold comprises approximately 21.5% of Brickwood Asset Management LLP's portfolio, making the stock its 4th biggest position. Brickwood Asset Management LLP owned approximately 0.10% of Barrick Gold at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Capital International Investors boosted its stake in Barrick Gold by 136.1% in the fourth quarter. Capital International Investors now owns 33,293,792 shares of the gold and copper producer's stock valued at $516,055,000 after acquiring an additional 19,189,830 shares during the last quarter. Causeway Capital Management LLC bought a new position in shares of Barrick Gold in the 4th quarter worth $172,225,000. Wellington Management Group LLP grew its stake in shares of Barrick Gold by 17.5% during the fourth quarter. Wellington Management Group LLP now owns 64,310,800 shares of the gold and copper producer's stock worth $996,802,000 after purchasing an additional 9,598,292 shares during the period. FIL Ltd grew its stake in shares of Barrick Gold by 236.7% during the fourth quarter. FIL Ltd now owns 6,815,946 shares of the gold and copper producer's stock worth $105,692,000 after purchasing an additional 4,791,663 shares during the period. Finally, Capital International Inc. CA acquired a new position in Barrick Gold in the fourth quarter valued at about $57,991,000. Institutional investors and hedge funds own 90.82% of the company's stock.

Barrick Gold Stock Down 0.8%

Shares of B stock opened at $18.67 on Friday. Barrick Gold Corp has a 12-month low of $17.41 and a 12-month high of $47.50. 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 firm has a fifty day moving average of $19.03 and a 200-day moving average of $17.73. The company has a market capitalization of $32.10 billion, a price-to-earnings ratio of 15.18, a P/E/G 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 for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $3.15 billion. During the same period in the prior year, the business earned $0.19 EPS. The company's revenue for the quarter was up 13.9% compared to the same quarter last year. As a group, equities research analysts predict that Barrick Gold Corp will post 1.47 earnings per share for the current fiscal year.

Barrick Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be issued a dividend of $0.10 per share. The ex-dividend date is Friday, May 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.14%. Barrick Gold's payout ratio is presently 30.08%.

Barrick Gold announced that its board has initiated a share buyback plan on Wednesday, February 12th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the gold and copper producer to purchase up to 3.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

B has been the subject of several analyst reports. Raymond James boosted their target price on Barrick Gold from $23.00 to $23.50 and gave the stock an "outperform" rating in a research report on Monday, March 31st. Citigroup reduced their price objective on shares of Barrick Gold from $21.00 to $17.00 and set a "neutral" rating on the stock in a research note on Monday, March 31st. National Bank Financial upgraded shares of Barrick Gold to a "hold" rating in a report on Friday, March 21st. Scotiabank increased their target price on shares of Barrick Gold from $20.00 to $22.00 and gave the stock a "sector perform" rating in a report on Monday, April 14th. Finally, Stifel Canada raised shares of Barrick Gold to a "strong-buy" rating in a research report on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $24.05.

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.

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