Allspring Global Investments Holdings LLC Raises Stock Holdings in Barrick Gold Corp (NYSE:GOLD)

Allspring Global Investments Holdings LLC grew its stake in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 0.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 853,079 shares of the gold and copper producer’s stock after acquiring an additional 7,000 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Barrick Gold were worth $15,432,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Fairfield Bush & CO. purchased a new stake in Barrick Gold during the second quarter valued at $29,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Barrick Gold during the 4th quarter valued at about $35,000. Resurgent Financial Advisors LLC bought a new position in shares of Barrick Gold in the 4th quarter worth approximately $36,000. FWL Investment Management LLC purchased a new position in shares of Barrick Gold in the fourth quarter worth approximately $36,000. Finally, Chilton Capital Management LLC bought a new stake in Barrick Gold during the first quarter valued at approximately $37,000. 62.85% of the stock is currently owned by institutional investors.

Barrick Gold Price Performance

Shares of NYSE:GOLD opened at $17.37 on Tuesday. The firm has a market cap of $30.50 billion, a price-to-earnings ratio of 24.13, a P/E/G ratio of 1.63 and a beta of 0.58. The firm has a fifty day moving average price of $15.75 and a 200 day moving average price of $16.18. Barrick Gold Corp has a fifty-two week low of $13.76 and a fifty-two week high of $20.75. 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) (TSE:ABX) last issued its quarterly earnings data on Wednesday, February 14th. The gold and copper producer reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.06. The firm had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.13 billion. Barrick Gold had a return on equity of 4.64% and a net margin of 11.16%. During the same quarter last year, the business posted $0.13 earnings per share. As a group, sell-side analysts expect that Barrick Gold Corp will post 0.91 earnings per share for the current fiscal year.

Barrick Gold Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were paid a $0.074 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date was Wednesday, February 28th. Barrick Gold’s payout ratio is 55.56%.

Analyst Ratings Changes

Several research analysts have recently weighed in on GOLD shares. Royal Bank of Canada reiterated an “outperform” rating and set a $18.00 price target on shares of Barrick Gold in a research note on Monday, March 4th. StockNews.com raised Barrick Gold from a “hold” rating to a “buy” rating in a report on Wednesday, February 21st. TD Securities reduced their price target on Barrick Gold from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Friday, February 16th. Sanford C. Bernstein downgraded Barrick Gold from an “outperform” rating to a “market perform” rating in a research note on Monday, January 8th. Finally, CIBC reduced their target price on shares of Barrick Gold from $27.00 to $23.00 and set an “outperform” rating for the company in a report on Wednesday, February 7th. One analyst has rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $22.05.

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.