PKO Investment Management Joint Stock Co Invests $12.18 Million in Barrick Gold Corp (NYSE:B)

PKO Investment Management Joint Stock Co bought a new stake in shares of Barrick Gold Corp (NYSE:B - Free Report) TSE: ABX in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 785,221 shares of the gold and copper producer's stock, valued at approximately $12,181,000. Barrick Gold makes up about 1.5% of PKO Investment Management Joint Stock Co's investment portfolio, making the stock its 12th largest position.

A number of other large investors have also added to or reduced their stakes in the stock. Keystone Financial Group raised its holdings in Barrick Gold by 1.4% in the 4th quarter. Keystone Financial Group now owns 56,394 shares of the gold and copper producer's stock worth $874,000 after purchasing an additional 753 shares during the period. VisionPoint Advisory Group LLC lifted its position in Barrick Gold by 6.7% during the fourth quarter. VisionPoint Advisory Group LLC now owns 14,051 shares of the gold and copper producer's stock valued at $224,000 after purchasing an additional 880 shares during the last quarter. Townsquare Capital LLC increased its stake in Barrick Gold by 0.3% during the fourth quarter. Townsquare Capital LLC now owns 285,355 shares of the gold and copper producer's stock worth $4,423,000 after acquiring an additional 952 shares during the last quarter. Mesirow Financial Investment Management Inc. raised its holdings in Barrick Gold by 3.5% during the 4th quarter. Mesirow Financial Investment Management Inc. now owns 30,510 shares of the gold and copper producer's stock valued at $473,000 after buying an additional 1,035 shares during the period. Finally, Coastal Bridge Advisors LLC boosted its stake in shares of Barrick Gold by 7.5% during the 4th quarter. Coastal Bridge Advisors LLC now owns 14,909 shares of the gold and copper producer's stock worth $231,000 after purchasing an additional 1,045 shares during the period. Hedge funds and other institutional investors own 90.82% of the company's stock.

Barrick Gold Stock Up 1.1%

NYSE B traded up $0.20 on Friday, hitting $19.20. 16,844,190 shares of the stock traded hands, compared to its average volume of 1,812,765. The company has a market capitalization 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. Barrick Gold Corp has a twelve month low of $17.41 and a twelve month high of $47.50. The stock has a 50-day moving average of $19.02 and a 200 day moving average of $17.76. The company has a current ratio of 2.89, a quick ratio of 2.15 and a debt-to-equity ratio of 0.14.

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 EPS for the quarter, beating analysts' consensus estimates of $0.29 by $0.06. The company had revenue of $3 billion for 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%. The company's quarterly revenue was up 13.9% compared to the same quarter last year. During the same period last year, the company earned $0.19 earnings per share. As a group, analysts expect that Barrick Gold Corp will post 1.47 earnings per share for the current fiscal year.

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

Barrick Gold Dividend Announcement

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 $0.10 dividend. 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 is currently 30.08%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on B. Raymond James lifted their price target on shares of Barrick Gold from $23.00 to $23.50 and gave the company an "outperform" rating in a research note on Monday, March 31st. Wall Street Zen assumed coverage on Barrick Gold in a research note on Monday, May 12th. They set a "sell" rating on the stock. Citigroup lowered their price objective on shares of Barrick Gold from $21.00 to $17.00 and set a "neutral" rating for the company in a research note on Monday, March 31st. National Bank Financial upgraded shares of Barrick Gold to a "hold" rating in a research note on Friday, March 21st. Finally, BMO Capital Markets assumed coverage on Barrick Gold in a report on Wednesday, April 16th. They set a "market perform" rating on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $24.05.

Barrick Gold Company 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.