Voloridge Investment Management LLC Takes Position in Barrick Gold Corp (NYSE:B)

Voloridge Investment Management LLC bought a new stake 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 firm bought 813,851 shares of the gold and copper producer's stock, valued at approximately $12,615,000.

Several other large investors have also recently bought and sold shares of the business. Keystone Financial Group grew its stake 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 valued at $874,000 after acquiring an additional 753 shares during the last quarter. VisionPoint Advisory Group LLC grew its position in shares of Barrick Gold by 6.7% in 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 shares of Barrick Gold by 0.3% during the 4th quarter. Townsquare Capital LLC now owns 285,355 shares of the gold and copper producer's stock worth $4,423,000 after purchasing an additional 952 shares in the last quarter. Mesirow Financial Investment Management Inc. raised its position in shares of 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 worth $473,000 after purchasing an additional 1,035 shares during the last quarter. Finally, Coastal Bridge Advisors LLC raised its holdings in shares of Barrick Gold by 7.5% in the fourth 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 last quarter. Hedge funds and other institutional investors own 90.82% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Royal Bank of Canada raised their target price 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. Raymond James upped their price target on Barrick Gold from $23.00 to $23.50 and gave the stock an "outperform" rating in a research note on Monday, March 31st. TD Securities cut their price objective on Barrick Gold from $24.00 to $23.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. Citigroup dropped their target price on shares of Barrick Gold from $21.00 to $17.00 and set a "neutral" rating for the company in a research report on Monday, March 31st. Finally, UBS Group raised their price target on shares of Barrick Gold from $22.00 to $25.00 and gave the company a "buy" rating in a report on Friday, April 11th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $24.05.

Barrick Gold Stock Up 0.6%

NYSE B traded up $0.12 on Wednesday, hitting $19.02. 8,758,299 shares of the stock traded hands, compared to its average volume of 1,661,588. Barrick Gold Corp has a twelve month low of $17.41 and a twelve month high of $47.50. The company has a current ratio of 2.89, a quick ratio of 2.15 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $32.70 billion, a P/E ratio of 15.46, a price-to-earnings-growth ratio of 0.44 and a beta of 0.25. The stock has a 50-day moving average of $19.01 and a 200 day moving average of $17.74.

Barrick Gold (NYSE:B - Get Free Report) TSE: ABX last released its quarterly earnings data on Wednesday, May 7th. The gold and copper producer reported $0.35 EPS for the quarter, topping 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 firm had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter in the previous year, the company posted $0.19 earnings per share. The firm's revenue was up 13.9% on a year-over-year basis. 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 initiated a share repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the gold and copper producer to repurchase up to 3.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board 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. Stockholders of record on Friday, May 30th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend is Friday, May 30th. Barrick Gold's dividend payout ratio (DPR) is presently 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.