Forum Financial Management LP Takes Position in Barrick Gold Corp (NYSE:B)

Forum Financial Management LP purchased a new stake in shares of Barrick Gold Corp (NYSE:B - Free Report) TSE: ABX during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 13,731 shares of the gold and copper producer's stock, valued at approximately $213,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital International Investors boosted its position in Barrick Gold by 136.1% during the fourth quarter. Capital International Investors now owns 33,293,792 shares of the gold and copper producer's stock worth $516,055,000 after purchasing an additional 19,189,830 shares during the period. Causeway Capital Management LLC purchased a new position in shares of Barrick Gold in the 4th quarter worth about $172,225,000. Wellington Management Group LLP raised its position in Barrick Gold by 17.5% in the 4th quarter. Wellington Management Group LLP now owns 64,310,800 shares of the gold and copper producer's stock worth $996,802,000 after buying an additional 9,598,292 shares during the last quarter. FIL Ltd grew its stake 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 during the period. Finally, Capital International Inc. CA bought 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 institutional investors.

Wall Street Analyst Weigh In

B has been the topic of several recent research reports. BMO Capital Markets initiated coverage on Barrick Gold in a report on Wednesday, April 16th. They set a "market perform" rating on the stock. TD Securities reduced their price objective on Barrick Gold from $24.00 to $23.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. Raymond James lifted their price objective on Barrick Gold from $23.00 to $23.50 and gave the company an "outperform" rating in a research note on Monday, March 31st. Scotiabank upped their target price on Barrick Gold from $20.00 to $22.00 and gave the company a "sector perform" rating in a research report on Monday, April 14th. Finally, Wall Street Zen initiated coverage on Barrick Gold in a report on Monday, May 12th. They issued a "sell" rating for the company. One analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Barrick Gold has an average rating of "Moderate Buy" and an average price target of $24.05.

Barrick Gold Price Performance

Shares of NYSE B traded up $0.20 during mid-day trading on Friday, hitting $19.20. 16,844,190 shares of the stock were exchanged, compared to its average volume of 1,812,768. Barrick Gold Corp has a twelve month low of $17.41 and a twelve month high of $47.50. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.15 and a current ratio of 2.89. The stock's fifty day simple moving average is $19.01 and its two-hundred day simple moving average is $17.77. The company has a market cap of $33.01 billion, a P/E 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 quarterly earnings data 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 firm had revenue of $3 billion for the quarter, compared to analysts' expectations of $3.15 billion. During the same period last year, the firm earned $0.19 earnings per share. The business's revenue for the quarter 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 fiscal year.

Barrick Gold Dividend Announcement

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

Barrick Gold declared that its Board of Directors has approved a stock repurchase plan 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 purchase up to 3.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management 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.