FORA Capital LLC Purchases 228,975 Shares of Barrick Gold Corp (NYSE:GOLD)

FORA Capital LLC lifted its position in shares of Barrick Gold Corp (NYSE:GOLD - Free Report) TSE: ABX by 1,588.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 243,388 shares of the gold and copper producer's stock after purchasing an additional 228,975 shares during the quarter. FORA Capital LLC's holdings in Barrick Gold were worth $3,773,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Van ECK Associates Corp raised its holdings in Barrick Gold by 2.1% during the 4th quarter. Van ECK Associates Corp now owns 76,299,834 shares of the gold and copper producer's stock worth $1,182,641,000 after buying an additional 1,563,361 shares during the period. Vanguard Group Inc. raised its holdings in shares of Barrick Gold by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 68,358,533 shares of the gold and copper producer's stock worth $1,060,036,000 after acquiring an additional 1,195,585 shares during the period. Wellington Management Group LLP boosted its stake in Barrick Gold by 17.5% in the 4th quarter. Wellington Management Group LLP now owns 64,310,800 shares of the gold and copper producer's stock worth $996,802,000 after purchasing an additional 9,598,292 shares during the period. Capital International Investors increased its holdings in Barrick Gold by 136.1% during the 4th quarter. Capital International Investors now owns 33,293,792 shares of the gold and copper producer's stock worth $516,055,000 after purchasing an additional 19,189,830 shares in the last quarter. Finally, Amundi raised its stake in shares of Barrick Gold by 1.7% in the 4th quarter. Amundi now owns 14,120,278 shares of the gold and copper producer's stock valued at $223,665,000 after purchasing an additional 236,116 shares during the period. 62.85% of the stock is currently owned by institutional investors.

Barrick Gold Stock Performance

GOLD opened at $19.42 on Thursday. Barrick Gold Corp has a 52-week low of $15.11 and a 52-week high of $21.35. The business's fifty day moving average is $19.05 and its 200-day moving average is $17.86. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.15 and a current ratio of 2.89. The firm has a market cap of $33.39 billion, a P/E ratio of 15.79, a price-to-earnings-growth ratio of 0.44 and a beta of 0.25.

Barrick Gold (NYSE:GOLD - 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, 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 company's quarterly revenue was up 13.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.19 earnings per share. Sell-side analysts expect that Barrick Gold Corp will post 1.47 EPS for the current fiscal year.

Barrick Gold declared that its Board of Directors has initiated a share repurchase plan on Wednesday, February 12th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the gold and copper producer to buy up to 3.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board of directors believes its shares are undervalued.

Barrick Gold Announces Dividend

The business also recently declared 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 2.06%. Barrick Gold's dividend payout ratio (DPR) is presently 32.52%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on GOLD. StockNews.com upgraded Barrick Gold from a "buy" rating to a "strong-buy" rating in a report on Saturday, April 5th. National Bank Financial upgraded shares of Barrick Gold to a "hold" rating in a report on Friday, March 21st. Royal Bank of Canada raised their target price on shares of Barrick Gold from $22.00 to $23.00 and gave the company an "outperform" rating in a research report on Friday, April 4th. Bank of America cut Barrick Gold from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $21.00 to $18.00 in a report on Monday, January 27th. Finally, Scotiabank increased their price objective on Barrick Gold from $20.00 to $22.00 and gave the company a "sector perform" rating in a report on Monday, April 14th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus 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.

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