Allianz SE Acquires Shares of Barrick Gold Corp

Allianz SE has recently taken a significant step by purchasing shares in Barrick Gold Corp (NYSE:GOLD - Free Report, TSE:ABX) during the fourth quarter of the previous year. This acquisition was disclosed in Allianz's recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,176,280 shares of the gold and copper producer, which are valued at around $33,726,000.

This new position in Barrick Gold represents about 0.9% of Allianz SE's investment portfolio, positioning the stock as the 22nd largest holding within their assets. By the end of the last reporting period, Allianz SE maintained ownership of 0.13% of Barrick Gold, indicating a strategic interest in the company's future growth.

Investor Activity in Barrick Gold

In addition to Allianz SE's acquisition, several other institutional investors have shown a growing interest in Barrick Gold shares. For instance, Van ECK Associates Corp increased its stake in Barrick by 2.1% in the fourth quarter, now holding 76,299,834 shares valued at approximately $1,182,641,000 after adding 1,563,361 shares during the quarter.

Vanguard Group Inc. also enhanced its position by 1.8%, bringing its total to 68,358,533 shares worth around $1,060,036,000 following an acquisition of 1,195,585 shares. Meanwhile, Wellington Management Group LLP increased its investment by 2.7% in the third quarter, resulting in 54,712,508 shares valued at $1,088,484,000 after purchasing an additional 1,458,084 shares.

Moreover, Amundi raised its holdings by 1.7% in the fourth quarter, now owning 14,120,278 shares valued at $223,665,000 due to an increase of 236,116 shares. Ruffer LLP also made a noteworthy move, lifting its stake by 14.8%, now having 10,269,848 shares valued at $159,180,000 after acquiring an additional 1,325,119 shares. Overall, institutional investors collectively hold 62.85% of Barrick Gold's stock.

Analyst Ratings and Performance Indicators

Analyst evaluations of Barrick Gold (GOLD) have contributed to its market perception. National Bank Financial recently upgraded the stock to a "hold" rating, while TD Securities lowered its target price from $24.00 to $23.00 but maintained a "buy" rating. Raymond James reduced its price target from $25.00 to $24.00, recommending an "outperform" rating for the shares. On the other hand, UBS Group upgraded Barrick Gold from a "neutral" stance to a "buy" rating with a price target of $22.00.

According to MarketBeat.com, analysis shows six analysts have rated Barrick with a hold rating, seven have assigned a buy rating, and one has provided a strong buy rating. The consensus rating is classified as a "Moderate Buy," with an average target price set at $23.75.

Recent Performance and Earnings Report

As for Barrick Gold's stock price, it opened at $19.11 recently. The company showcases a current ratio of 2.89, a quick ratio of 2.15, and a low debt-to-equity ratio of 0.14. With a total market capitalization of $32.97 billion, the stock has a price-to-earnings ratio of 15.53 and a PEG ratio of 0.44, along with a beta of 0.58.

The stock's 50-day moving average stands at $17.85, and its 200-day moving average is slightly higher at $18.05. For context, Barrick Gold's 52-week low is recorded at $15.11, while the 52-week high reached $21.35.

On February 12th, Barrick Gold released its quarterly earnings, reporting an earnings per share (EPS) of $0.46, meeting analysts' expectations. With a net margin of 16.59% and a return on equity of 6.76%, future forecasts suggest that Barrick Gold Corp is expected to post 1.47 EPS for the current fiscal year.

Additionally, the company's board approved a share repurchase program that allows for the repurchase of $1.00 billion in shares, which includes the possibility to buy up to 3.2% of its stock via open market purchases, typically indicating management's belief that the stock is undervalued.

Dividend Announcements

Recently, Barrick Gold declared a quarterly dividend, which was paid on March 17th. Shareholders of record as of February 28th received a dividend of $0.10. Following this, a total annualized dividend of $0.40 represents a dividend yield of 2.09%. Barrick Gold's dividend payout ratio is calculated at 32.52%, reflecting a commitment to returning value to shareholders.

Company Overview

Barrick Gold Corporation is known as a leading gold and copper producer. The company's shares are publicly traded on the New York Stock Exchange under the ticker symbol GOLD and on the Toronto Stock Exchange as ABX. In January 2019, Barrick completed a merger with Randgold Resources and later formed a joint venture with Newmont Corporation in July of the same year, combining their Nevada mines, under the name Nevada Gold Mines, which is majority-owned and operated by Barrick.

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