Jennison Associates LLC Has $32.77 Million Holdings in Barrick Gold Corp (NYSE:GOLD)

Jennison Associates LLC increased its stake in shares of Barrick Gold Corp (NYSE:GOLD - Free Report) TSE: ABX by 23.2% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 1,811,368 shares of the gold and copper producer's stock after acquiring an additional 341,354 shares during the period. Jennison Associates LLC owned approximately 0.10% of Barrick Gold worth $32,768,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GOLD. International Assets Investment Management LLC lifted its position in Barrick Gold by 17.9% during the 3rd quarter. International Assets Investment Management LLC now owns 19,134 shares of the gold and copper producer's stock worth $280,000 after acquiring an additional 2,909 shares in the last quarter. CWM LLC raised its position in shares of Barrick Gold by 6.9% in the 3rd quarter. CWM LLC now owns 15,108 shares of the gold and copper producer's stock valued at $220,000 after purchasing an additional 971 shares in the last quarter. Clarius Group LLC acquired a new position in shares of Barrick Gold in the 3rd quarter valued at approximately $262,000. U.S. Capital Wealth Advisors LLC raised its position in shares of Barrick Gold by 1.7% in the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 196,039 shares of the gold and copper producer's stock valued at $2,852,000 after purchasing an additional 3,202 shares in the last quarter. Finally, Uncommon Cents Investing LLC raised its position in shares of Barrick Gold by 1.0% in the 3rd quarter. Uncommon Cents Investing LLC now owns 117,225 shares of the gold and copper producer's stock valued at $1,706,000 after purchasing an additional 1,145 shares in the last quarter. 62.85% of the stock is owned by institutional investors and hedge funds.

Barrick Gold Stock Performance

Shares of NYSE:GOLD traded up $0.55 on Thursday, hitting $17.07. The company's stock had a trading volume of 42,727,710 shares, compared to its average volume of 23,110,344. Barrick Gold Corp has a 12 month low of $13.76 and a 12 month high of $20.75. The company has a market capitalization of $29.97 billion, a price-to-earnings ratio of 23.71, a price-to-earnings-growth ratio of 1.55 and a beta of 0.58. The stock's 50-day moving average is $16.09 and its two-hundred day moving average is $16.29. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.40 and a current ratio of 3.16.

Barrick Gold (NYSE:GOLD - Get Free Report) TSE: ABX last released its quarterly earnings results on Wednesday, February 14th. The gold and copper producer reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.06. Barrick Gold had a return on equity of 4.64% and a net margin of 11.16%. The company had revenue of $3.06 billion during the quarter, compared to analysts' expectations of $3.13 billion. During the same quarter in the prior year, the business posted $0.13 earnings per share. On average, equities research analysts forecast that Barrick Gold Corp will post 0.9 EPS for the current year.

Barrick Gold Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were paid a $0.074 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $0.30 annualized dividend and a dividend yield of 1.73%. Barrick Gold's payout ratio is 55.56%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GOLD. CIBC cut their target price on Barrick Gold from $27.00 to $23.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 7th. StockNews.com raised Barrick Gold from a "hold" rating to a "buy" rating in a research report on Wednesday, February 21st. BMO Capital Markets lowered their price target on Barrick Gold from $27.00 to $26.00 and set an "outperform" rating for the company in a report on Wednesday, April 17th. Jefferies Financial Group began coverage on Barrick Gold in a report on Thursday, February 29th. They issued a "buy" rating and a $21.00 price target for the company. Finally, Raymond James lowered their price target on Barrick Gold from $24.00 to $23.00 and set an "outperform" rating for the company in a report on Thursday, February 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Barrick Gold currently has a consensus rating of "Moderate Buy" and a consensus price target of $20.06.

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.