Keene & Associates Inc. Has $3.09 Million Stake in Barrick Gold Corp (NYSE:GOLD)

Keene & Associates Inc. lessened its holdings in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 12.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 171,008 shares of the gold and copper producer’s stock after selling 24,472 shares during the quarter. Barrick Gold makes up approximately 2.6% of Keene & Associates Inc.’s investment portfolio, making the stock its 17th largest position. Keene & Associates Inc.’s holdings in Barrick Gold were worth $3,094,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Creative Financial Designs Inc. ADV boosted its holdings in Barrick Gold by 7.1% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 9,100 shares of the gold and copper producer’s stock worth $165,000 after acquiring an additional 600 shares during the last quarter. Stratos Wealth Partners LTD. grew its holdings in shares of Barrick Gold by 5.3% during the third quarter. Stratos Wealth Partners LTD. now owns 13,714 shares of the gold and copper producer’s stock worth $200,000 after purchasing an additional 689 shares in the last quarter. Legacy Wealth Asset Management LLC grew its holdings in shares of Barrick Gold by 2.9% during the third quarter. Legacy Wealth Asset Management LLC now owns 24,555 shares of the gold and copper producer’s stock worth $357,000 after purchasing an additional 694 shares in the last quarter. A. D. Beadell Investment Counsel Inc. grew its holdings in shares of Barrick Gold by 1.2% during the fourth quarter. A. D. Beadell Investment Counsel Inc. now owns 59,825 shares of the gold and copper producer’s stock worth $1,082,000 after purchasing an additional 700 shares in the last quarter. Finally, Fifth Third Bancorp boosted its stake in Barrick Gold by 13.1% in the third quarter. Fifth Third Bancorp now owns 6,067 shares of the gold and copper producer’s stock worth $88,000 after buying an additional 702 shares in the last quarter. Institutional investors own 62.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on GOLD shares. CIBC decreased their target price on Barrick Gold from $27.00 to $23.00 and set an “outperform” rating for the company in a report on Wednesday, February 7th. TD Securities dropped their price objective on Barrick Gold from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Friday, February 16th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $18.00 price target on shares of Barrick Gold in a research report on Monday, March 4th. BMO Capital Markets decreased their target price on shares of Barrick Gold from $26.00 to $24.00 and set an “outperform” rating on the stock in a research note on Thursday, February 15th. Finally, Jefferies Financial Group assumed coverage on Barrick Gold in a report on Thursday, February 29th. They issued a “buy” rating and a $21.00 price target on the stock. One 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 MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $22.05.

Barrick Gold Trading Down 1.0 %

Shares of NYSE GOLD traded down $0.18 during trading on Friday, reaching $17.86. The stock had a trading volume of 49,939,193 shares, compared to its average volume of 23,930,452. 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. The business’s 50-day moving average price is $15.71 and its 200-day moving average price is $16.15. The company has a market cap of $31.36 billion, a P/E ratio of 24.81, a PEG ratio of 1.63 and a beta of 0.58.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its earnings results on Wednesday, February 14th. The gold and copper producer reported $0.27 EPS for the quarter, topping the consensus estimate of $0.21 by $0.06. Barrick Gold had a return on equity of 4.64% and a net margin of 11.16%. The firm had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same period in the previous year, the firm posted $0.13 EPS. On average, equities research analysts predict that Barrick Gold Corp will post 0.91 EPS for the current fiscal year.

Barrick Gold Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were paid a dividend of $0.074 per share. The ex-dividend date was Wednesday, February 28th. This represents a $0.30 annualized dividend and a yield of 1.66%. Barrick Gold’s payout ratio is 55.56%.

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.