Sei Investments Co. Raises Holdings in Barrick Gold Corp (NYSE:GOLD)

Sei Investments Co. lifted its stake in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 3.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 792,553 shares of the gold and copper producer’s stock after acquiring an additional 24,526 shares during the quarter. Sei Investments Co.’s holdings in Barrick Gold were worth $12,285,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. First Horizon Advisors Inc. boosted its stake in shares of Barrick Gold by 619.7% in the 4th quarter. First Horizon Advisors Inc. now owns 3,073 shares of the gold and copper producer’s stock worth $48,000 after buying an additional 2,646 shares during the last quarter. Exchange Traded Concepts LLC boosted its position in Barrick Gold by 196.9% in the fourth quarter. Exchange Traded Concepts LLC now owns 4,178 shares of the gold and copper producer’s stock worth $65,000 after purchasing an additional 2,771 shares during the last quarter. Newbridge Financial Services Group Inc. purchased a new position in Barrick Gold in the fourth quarter worth about $65,000. Principal Securities Inc. grew its stake in shares of Barrick Gold by 119.4% during the 4th quarter. Principal Securities Inc. now owns 4,848 shares of the gold and copper producer’s stock valued at $75,000 after purchasing an additional 2,638 shares during the period. Finally, AlphaMark Advisors LLC increased its position in shares of Barrick Gold by 85.2% during the 4th quarter. AlphaMark Advisors LLC now owns 5,555 shares of the gold and copper producer’s stock valued at $86,000 after purchasing an additional 2,555 shares during the last quarter. Institutional investors own 62.85% of the company’s stock.

Barrick Gold Price Performance

GOLD stock opened at $19.11 on Friday. 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 company’s fifty day moving average price is $17.85 and its 200-day moving average price is $18.04. Barrick Gold Corp has a one year low of $15.11 and a one year high of $21.35. The company has a market capitalization of $32.97 billion, a PE ratio of 15.53, a price-to-earnings-growth ratio of 0.44 and a beta of 0.58.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its quarterly earnings results on Wednesday, February 12th. The gold and copper producer reported $0.46 EPS for the quarter, hitting the consensus estimate of $0.46. Barrick Gold had a net margin of 16.59% and a return on equity of 6.76%. On average, equities analysts anticipate that Barrick Gold Corp will post 1.47 EPS for the current fiscal year.

Barrick Gold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.09%. The ex-dividend date was Friday, February 28th. Barrick Gold’s dividend payout ratio is presently 32.52%.

Barrick Gold announced that its Board of Directors has initiated a stock buyback program on Wednesday, February 12th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the gold and copper producer to purchase up to 3.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

GOLD has been the topic of a number of research reports. Bank of America downgraded shares of Barrick Gold from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $21.00 to $18.00 in a report on Monday, January 27th. Raymond James cut their price objective on shares of Barrick Gold from $25.00 to $24.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. Citigroup decreased their target price on Barrick Gold from $23.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday, December 20th. National Bank Financial raised Barrick Gold to a “hold” rating in a research note on Friday, March 21st. Finally, Scotiabank boosted their price objective on Barrick Gold from $19.00 to $20.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 18th. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $23.75.

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.