Bcwm LLC Acquires Shares in Barrick Gold Corp

Bcwm LLC has recently purchased a new stake in Barrick Gold Corp (NYSE:GOLD - Free Report) (TSE:ABX) during the fourth quarter, according to its filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 62,537 shares of the gold and copper producer's stock, with a total value of approximately $969,000.

Institutional Investments in Barrick Gold

Several other hedge funds and institutional investors have also adjusted their positions in Barrick Gold. For instance, CIBC Private Wealth Group LLC increased its ownership of Barrick Gold by 6.9% during the fourth quarter, bringing its total to 18,984 shares valued at $301,000 after acquiring an additional 1,220 shares. Oaktree Fund Advisors LLC initiated a new position worth $1,055,000 in Barrick Gold during the same period. Similarly, Oaktree Capital Management LP procured shares valued at around $15,733,000, and Allianz SE invested about $33,726,000. Additionally, Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. purchased shares valued at approximately $5,661,000. Overall, institutional investors and hedge funds own approximately 62.85% of the company's stock.

Current Stock Performance

As of Friday, shares of Barrick Gold opened at $19.11. The stock has a fifty-day moving average of $17.85 and a two-hundred-day moving average of $18.04. The company holds a debt-to-equity ratio of 0.14, a quick ratio of 2.15, and a current ratio of 2.89. Barrick Gold possesses a market capitalization of $32.97 billion, a price-to-earnings (P/E) ratio of 15.53, and a P/E growth (P/E/G) ratio of 0.44. Notably, the stock has a one-year low of $15.11 and a high of $21.35.

Dividend Information

The company recently announced a quarterly dividend which was paid on March 17. Shareholders on record as of February 28 received a dividend of $0.10, with the ex-dividend date also on February 28. This translates to an annualized dividend of $0.40, yielding 2.09%. Presently, Barrick Gold's dividend payout ratio stands at 32.52%.

Share Repurchase Plan Announcement

On February 12, Barrick Gold's board initiated a share repurchase plan allowing the company to buy back $1 billion in outstanding shares. This plan permits the reacquisition of up to 3.2% of its shares through open market purchases, indicating the board's belief that the company's shares may be undervalued.

Analyst Ratings

GOLD has been discussed in several recent research reports. Scotiabank raised their price target on Barrick Gold from $19.00 to $20.00 while maintaining a "sector perform" rating. Bank of America downgraded Barrick Gold from a "buy" to a "neutral" rating, with a price target reduction from $21.00 to $18.00. Raymond James decreased their price target from $25.00 to $24.00 and maintained an "outperform" rating, while Citigroup revised their target from $23.00 to $17.00 with a "neutral" rating. National Bank Financial upgraded their rating to "hold". Currently, six analysts hold a "hold" rating, seven have a "buy" rating, and one has assigned a "strong buy" rating, leading to a consensus rating of "Moderate Buy" and an average target price of $23.75.

About Barrick Gold

Barrick Gold Corporation is a prominent producer of gold and copper, with shares traded on the New York Stock Exchange under the symbol GOLD and on the Toronto Stock Exchange under the symbol ABX. The company merged with Randgold Resources in January 2019 and later formed a joint venture with Newmont Corporation, known as Nevada Gold Mines, which is primarily operated by Barrick.

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