Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. Purchases Shares of 365,238 Barrick Gold Corp (NYSE:B)

Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. purchased a new position in Barrick Gold Corp (NYSE:B - Free Report) TSE: ABX in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 365,238 shares of the gold and copper producer's stock, valued at approximately $5,661,000. Barrick Gold accounts for approximately 16.7% of Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A.'s investment portfolio, making the stock its 3rd biggest holding.

A number of other institutional investors have also added to or reduced their stakes in B. Public Employees Retirement System of Ohio purchased a new stake in shares of Barrick Gold during the 4th quarter worth approximately $23,788,000. Vega Investment Solutions bought a new stake in Barrick Gold in the fourth quarter worth $31,000. Brickwood Asset Management LLP purchased a new stake in shares of Barrick Gold during the 4th quarter valued at about $27,193,000. Vise Technologies Inc. raised its position in Barrick Gold by 36.8% during the fourth quarter. Vise Technologies Inc. now owns 28,932 shares of the gold and copper producer's stock valued at $448,000 after purchasing an additional 7,783 shares during the period. Finally, Inspire Trust Co. N.A. lifted its position in Barrick Gold by 30.2% in the fourth quarter. Inspire Trust Co. N.A. now owns 64,700 shares of the gold and copper producer's stock worth $1,003,000 after buying an additional 15,000 shares during the last quarter. 90.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on B shares. Raymond James increased their price objective on shares of Barrick Gold from $23.00 to $23.50 and gave the stock an "outperform" rating in a research report on Monday, March 31st. Scotiabank boosted their price objective on shares of Barrick Gold from $20.00 to $22.00 and gave the stock a "sector perform" rating in a research note on Monday, April 14th. TD Securities decreased their price target on shares of Barrick Gold from $24.00 to $23.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. UBS Group boosted their price objective on shares of Barrick Gold from $22.00 to $25.00 and gave the stock a "buy" rating in a research note on Friday, April 11th. Finally, Stifel Canada raised 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 assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $24.05.

Barrick Gold Price Performance

NYSE:B traded up $0.03 during trading hours on Thursday, reaching $19.05. 5,367,612 shares of the company were exchanged, compared to its average volume of 1,690,961. The firm has a market cap of $32.75 billion, a PE ratio of 15.48, a price-to-earnings-growth ratio of 0.44 and a beta of 0.25. The stock's 50-day moving average is $19.01 and its 200-day moving average is $17.75. 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 Corp has a twelve month low of $17.41 and a twelve month high of $47.50.

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, topping the consensus estimate of $0.29 by $0.06. The firm had revenue of $3 billion during 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 firm's revenue for the quarter was up 13.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.19 earnings per share. On average, sell-side analysts anticipate that Barrick Gold Corp will post 1.47 earnings per share for the current fiscal year.

Barrick Gold announced that its board has approved a stock buyback plan 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 reacquire up to 3.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board believes its shares are undervalued.

Barrick Gold Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.40 annualized dividend and a dividend yield of 2.10%. Barrick Gold's dividend payout ratio (DPR) 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.