Twinbeech Capital LP Buys New Shares in Barrick Gold Corp (NYSE:B)

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

Other institutional investors have also recently made changes to their positions in the company. Keystone Financial Group lifted its holdings in shares of 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 acquiring an additional 753 shares during the last quarter. VisionPoint Advisory Group LLC boosted its position in shares of Barrick Gold by 6.7% in the 4th 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 period. Townsquare Capital LLC raised its position in Barrick Gold by 0.3% in the 4th quarter. Townsquare Capital LLC now owns 285,355 shares of the gold and copper producer's stock valued at $4,423,000 after purchasing an additional 952 shares during the last quarter. Mesirow Financial Investment Management Inc. increased its position in Barrick Gold by 3.5% in 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 acquiring an additional 1,035 shares during the period. Finally, Coastal Bridge Advisors LLC lifted its stake in shares of Barrick Gold by 7.5% in the 4th quarter. Coastal Bridge Advisors LLC now owns 14,909 shares of the gold and copper producer's stock worth $231,000 after acquiring an additional 1,045 shares during the period. 90.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on B. Stifel Canada upgraded Barrick Gold to a "strong-buy" rating in a research report on Wednesday, March 19th. Raymond James upped their price target 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 raised their price target on shares of Barrick Gold from $20.00 to $22.00 and gave the company a "sector perform" rating in a report on Monday, April 14th. TD Securities decreased their target price on Barrick Gold from $24.00 to $23.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. Finally, Wall Street Zen assumed coverage on shares of Barrick Gold in a research note on Monday, May 12th. They set a "sell" rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Barrick Gold currently has an average rating of "Moderate Buy" and an average price target of $24.05.

Barrick Gold Stock Down 0.6%

B stock traded down $0.11 during trading hours on Tuesday, reaching $18.96. 8,494,788 shares of the stock were exchanged, compared to its average volume of 1,594,205. The company has a market cap of $32.59 billion, a price-to-earnings ratio of 15.43, a PEG ratio of 0.44 and a beta of 0.25. The firm's 50-day moving average is $19.02 and its 200-day moving average is $17.73. 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 12 month low of $17.41 and a 12 month high of $47.50.

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

Barrick Gold Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend is Friday, May 30th. Barrick Gold's dividend payout ratio is currently 30.08%.

Barrick Gold declared that its Board of Directors has initiated a share repurchase program 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 reacquire up to 3.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's leadership 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.