Twinbeech Capital LP Acquires New Holdings in Barrick Gold Corp (NYSE:B)

Twinbeech Capital LP bought a new position in Barrick Gold Corp (NYSE:B - Free Report) TSE: ABX in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 21,527 shares of the gold and copper producer's stock, valued at approximately $334,000.

Other large investors also recently modified their holdings of the company. Crowley Wealth Management Inc. bought a new position in shares of Barrick Gold in the fourth quarter worth about $26,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Barrick Gold in the fourth quarter valued at $37,000. First Horizon Advisors Inc. raised its stake in Barrick Gold by 619.7% in the fourth 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 in the last quarter. Pingora Partners LLC grew its holdings in shares of Barrick Gold by 250.0% during the fourth quarter. Pingora Partners LLC now owns 3,500 shares of the gold and copper producer's stock worth $54,000 after buying an additional 2,500 shares during the last quarter. Finally, Exchange Traded Concepts LLC boosted its holdings in Barrick Gold by 196.9% in the 4th quarter. Exchange Traded Concepts LLC now owns 4,178 shares of the gold and copper producer's stock valued at $65,000 after purchasing an additional 2,771 shares in the last quarter. 90.82% of the stock is owned by hedge funds and other institutional investors.

Barrick Gold Stock Performance

Shares of B traded down $0.07 during mid-day trading on Wednesday, hitting $18.84. The stock had a trading volume of 3,160,688 shares, compared to its average volume of 1,620,849. The firm has a market cap of $32.39 billion, a P/E ratio of 15.34, a PEG ratio of 0.44 and a beta of 0.25. 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 Corp has a 52 week low of $17.41 and a 52 week high of $47.50. The business has a fifty day moving average price of $19.01 and a 200-day moving average price of $17.74.

Barrick Gold (NYSE:B - Get Free Report) TSE: ABX last announced its earnings results on Wednesday, May 7th. The gold and copper producer reported $0.35 earnings per share 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 business had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter 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. On average, equities research analysts expect that Barrick Gold Corp will post 1.47 EPS for the current year.

Barrick Gold declared that its board has initiated a stock buyback plan on Wednesday, February 12th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the gold and copper producer to purchase up to 3.2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

Barrick Gold Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be paid a $0.10 dividend. The ex-dividend date is Friday, May 30th. This represents a $0.40 dividend on an annualized basis and a yield of 2.12%. Barrick Gold's dividend payout ratio is currently 30.08%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on B shares. Raymond James boosted their price objective 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. Royal Bank of Canada upped their price target on shares of Barrick Gold from $22.00 to $23.00 and gave the stock an "outperform" rating in a research report on Friday, April 4th. Scotiabank upped their price target on shares of Barrick Gold from $20.00 to $22.00 and gave the stock a "sector perform" rating in a research report on Monday, April 14th. Wall Street Zen initiated coverage on shares of Barrick Gold in a research report on Monday, May 12th. They set a "sell" rating for the company. Finally, Stifel Canada raised shares of 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 issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $24.05.

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.