M.E. Allison & CO. Inc. Acquires New Shares in Barrick Gold Corp (NYSE:B)

M.E. Allison & CO. Inc. acquired a new stake in shares of Barrick Gold Corp (NYSE:B - Free Report) TSE: ABX during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 13,062 shares of the gold and copper producer's stock, valued at approximately $254,000.

Several other hedge funds also recently modified their holdings of the company. Crowley Wealth Management Inc. bought a new position in shares of Barrick Gold in the 4th quarter worth about $26,000. Nexus Investment Management ULC bought a new stake in Barrick Gold in the 1st quarter valued at about $32,000. Vega Investment Solutions bought a new stake in Barrick Gold in the 4th quarter valued at about $31,000. MassMutual Private Wealth & Trust FSB increased its position in Barrick Gold by 55.8% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 2,193 shares of the gold and copper producer's stock valued at $43,000 after buying an additional 785 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL bought a new stake in Barrick Gold in the 4th quarter valued at about $37,000. Institutional investors and hedge funds own 90.82% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. UBS Group boosted their target price on Barrick Gold from $22.00 to $25.00 and gave the company a "buy" rating in a research report on Friday, April 11th. BMO Capital Markets started coverage on Barrick Gold in a report on Wednesday, April 16th. They set a "market perform" rating for the company. Scotiabank boosted their price objective on Barrick Gold from $20.00 to $22.00 and gave the stock a "sector perform" rating in a report on Monday, April 14th. Royal Bank of Canada upped their target price on Barrick Gold from $23.00 to $26.00 and gave the company an "outperform" rating in a report on Wednesday, June 4th. Finally, Stifel Canada raised Barrick Gold to a "strong-buy" rating in a report on Wednesday, March 19th. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $24.05.

Barrick Gold Price Performance

Shares of Barrick Gold stock opened at $21.59 on Monday. Barrick Gold Corp has a one year low of $17.41 and a one year high of $47.50. The stock's fifty day moving average is $19.31 and its 200 day moving average is $17.98. The stock has a market cap of $37.02 billion, a P/E ratio of 17.56, a P/E/G ratio of 0.44 and a beta of 0.27. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.15 and a current ratio of 2.89.

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

Barrick Gold Announces Dividend

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 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 1.85%. Barrick Gold's payout ratio is 30.08%.

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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