Barrick Gold Corp (NYSE:GOLD) Stake Increased by Integrated Wealth Concepts LLC

Integrated Wealth Concepts LLC boosted its stake in Barrick Gold Corp (NYSE:GOLD - Free Report) TSE: ABX by 95.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 53,130 shares of the gold and copper producer's stock after buying an additional 25,952 shares during the period. Integrated Wealth Concepts LLC's holdings in Barrick Gold were worth $824,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Crowley Wealth Management Inc. purchased a new stake in shares of Barrick Gold during the 4th quarter worth $26,000. Strategic Investment Solutions Inc. IL acquired a new position in Barrick Gold during the 4th quarter worth approximately $37,000. First Horizon Advisors Inc. raised its position 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 worth $48,000 after acquiring an additional 2,646 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new stake in Barrick Gold during the fourth quarter worth about $65,000. Finally, Exchange Traded Concepts LLC grew its holdings in shares of 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 worth $65,000 after acquiring an additional 2,771 shares during the period. Hedge funds and other institutional investors own 62.85% of the company's stock.

Barrick Gold Stock Performance

Shares of NYSE:GOLD traded up $0.05 during trading on Friday, hitting $18.42. 19,685,289 shares of the company traded hands, compared to its average volume of 21,475,784. The business's fifty day moving average is $18.98 and its 200-day moving average is $17.87. The stock has a market capitalization of $31.67 billion, a price-to-earnings ratio of 14.98, a PEG ratio of 0.44 and a beta of 0.55. The company has a quick ratio of 2.15, a current ratio of 2.89 and a debt-to-equity ratio of 0.14. Barrick Gold Corp has a one year low of $15.11 and a one year high of $21.35.

Barrick Gold (NYSE:GOLD - Get Free Report) TSE: ABX last issued its quarterly earnings results on Wednesday, February 12th. The gold and copper producer reported $0.46 EPS for the quarter, meeting analysts' consensus estimates of $0.46. Barrick Gold had a return on equity of 6.76% and a net margin of 16.59%. As a group, equities analysts predict that Barrick Gold Corp will post 1.47 earnings per share for the current fiscal year.

Barrick Gold Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.17%. The ex-dividend date was Friday, February 28th. Barrick Gold's dividend payout ratio is presently 32.52%.

Barrick Gold declared that its Board of Directors has authorized a share buyback program 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 buy up to 3.2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's management believes its stock is undervalued.

Analyst Ratings Changes

A number of research analysts have recently weighed in on GOLD shares. Raymond James raised their price objective on shares of Barrick Gold from $23.00 to $23.50 and gave the stock an "outperform" rating in a research note on Monday, March 31st. Stifel Canada upgraded shares of Barrick Gold to a "strong-buy" rating in a report on Wednesday, March 19th. Scotiabank raised their price objective on Barrick Gold from $20.00 to $22.00 and gave the stock a "sector perform" rating in a report on Monday, April 14th. BMO Capital Markets assumed coverage on shares of Barrick Gold in a report on Wednesday, April 16th. They set a "market perform" rating on the stock. Finally, UBS Group lifted their price objective on shares of Barrick Gold from $22.00 to $25.00 and gave the company a "buy" rating in a research note on Friday, April 11th. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $24.05.

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.