Fairtree Asset Management Pty Ltd Acquires Shares of 185,051 Barrick Gold Corp (NYSE:B)

Fairtree Asset Management Pty Ltd bought a new stake in shares of Barrick Gold Corp (NYSE:B - Free Report) TSE: ABX during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 185,051 shares of the gold and copper producer's stock, valued at approximately $2,868,000. Barrick Gold comprises about 2.7% of Fairtree Asset Management Pty Ltd's investment portfolio, making the stock its 9th largest holding.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Crowley Wealth Management Inc. bought a new position in shares of Barrick Gold during the 4th quarter valued at $26,000. Vega Investment Solutions bought a new position in shares of Barrick Gold during the 4th quarter valued at $31,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Barrick Gold during the 4th quarter valued at $37,000. Ameriflex Group Inc. bought a new position in shares of Barrick Gold during the 4th quarter valued at $39,000. Finally, First Horizon Advisors Inc. boosted its position in Barrick Gold by 619.7% during the 4th quarter. First Horizon Advisors Inc. now owns 3,073 shares of the gold and copper producer's stock valued at $48,000 after buying an additional 2,646 shares during the period. Institutional investors own 90.82% of the company's stock.

Analysts Set New Price Targets

B has been the subject of several analyst reports. Stifel Canada raised shares of Barrick Gold to a "strong-buy" rating in a research report on Wednesday, March 19th. Royal Bank of Canada increased their price target on shares of Barrick Gold from $22.00 to $23.00 and gave the company an "outperform" rating in a research report on Friday, April 4th. National Bank Financial raised shares of Barrick Gold to a "hold" rating in a research report on Friday, March 21st. BMO Capital Markets initiated coverage on shares of Barrick Gold in a research report on Wednesday, April 16th. They set a "market perform" rating for the company. Finally, Wall Street Zen started coverage on shares of Barrick Gold in a research 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 assigned 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 has an average rating of "Moderate Buy" and a consensus price target of $24.05.

Barrick Gold Stock Up 1.1%

NYSE B traded up $0.20 during trading hours on Friday, reaching $19.20. 16,844,190 shares of the company's stock traded hands, compared to its average volume of 1,812,765. Barrick Gold Corp has a 52-week low of $17.41 and a 52-week high of $47.50. The firm has a market cap of $33.01 billion, a PE ratio of 15.61, a PEG ratio of 0.44 and a beta of 0.25. The firm has a 50-day simple moving average of $19.02 and a 200 day simple moving average of $17.76. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.89 and a quick ratio of 2.15.

Barrick Gold (NYSE:B - Get Free Report) TSE: ABX last issued its quarterly earnings results on Wednesday, May 7th. The gold and copper producer reported $0.35 earnings per share (EPS) for the quarter, beating 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 company had revenue of $3 billion during the quarter, compared to analysts' expectations of $3.15 billion. During the same period last year, the company posted $0.19 EPS. Barrick Gold's revenue was up 13.9% on a year-over-year basis. Sell-side analysts anticipate that Barrick Gold Corp will post 1.47 EPS for the current fiscal 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 given a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.40 dividend on an annualized basis and a yield of 2.08%. Barrick Gold's dividend payout ratio (DPR) is currently 30.08%.

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

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.