21,000 Shares in Barrick Gold Corp (NYSE:GOLD) Bought by Franklin Street Advisors Inc. NC

Franklin Street Advisors Inc. NC purchased a new stake in shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 21,000 shares of the gold and copper producer’s stock, valued at approximately $380,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Cheyne Capital Management UK LLP bought a new position in Barrick Gold during the 3rd quarter worth approximately $2,910,000. Klein Pavlis & Peasley Financial Inc. purchased a new stake in Barrick Gold during the 4th quarter valued at $1,331,000. Gateway Investment Advisers LLC increased its position in shares of Barrick Gold by 204.2% in the fourth quarter. Gateway Investment Advisers LLC now owns 249,017 shares of the gold and copper producer’s stock valued at $4,505,000 after acquiring an additional 167,145 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Barrick Gold by 53.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 524,618 shares of the gold and copper producer’s stock valued at $7,633,000 after acquiring an additional 183,076 shares during the last quarter. Finally, Mackenzie Financial Corp grew its stake in shares of Barrick Gold by 10.9% in the third quarter. Mackenzie Financial Corp now owns 17,995,217 shares of the gold and copper producer’s stock worth $255,406,000 after purchasing an additional 1,769,110 shares during the last quarter. 62.85% of the stock is owned by institutional investors.

Barrick Gold Price Performance

Shares of NYSE:GOLD opened at $16.64 on Friday. The business has a 50-day simple moving average of $15.27 and a two-hundred day simple moving average of $16.04. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.40 and a current ratio of 3.16. The firm has a market cap of $29.21 billion, a price-to-earnings ratio of 23.11, a price-to-earnings-growth ratio of 1.26 and a beta of 0.57. Barrick Gold Corp has a fifty-two week low of $13.76 and a fifty-two week high of $20.75.

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. Barrick Gold had a net margin of 11.16% and a return on equity of 4.64%. The company had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the prior year, the firm earned $0.13 earnings per share. On average, analysts expect that Barrick Gold Corp will post 0.9 earnings per share for the current year.

Barrick Gold Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were issued a $0.074 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend was Wednesday, February 28th. Barrick Gold’s payout ratio is currently 55.56%.

Wall Street Analysts Forecast Growth

GOLD has been the topic of several recent analyst reports. CIBC cut their price target on shares of Barrick Gold from $27.00 to $23.00 and set an “outperform” rating on the stock in a report on Wednesday, February 7th. Scotiabank reduced their price target on shares of Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, February 20th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $18.00 price objective on shares of Barrick Gold in a research report on Monday, March 4th. TD Securities decreased their target price 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. Finally, StockNews.com raised Barrick Gold from a “hold” rating to a “buy” rating in a research note on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Barrick Gold has a consensus rating of “Moderate Buy” and an average price target 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.