Private Advisor Group LLC Purchases 54,356 Shares of Barrick Gold Corp (NYSE:GOLD)

Private Advisor Group LLC lifted its holdings in Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) by 32.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 224,293 shares of the gold and copper producer’s stock after buying an additional 54,356 shares during the quarter. Private Advisor Group LLC’s holdings in Barrick Gold were worth $4,057,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Addenda Capital Inc. increased its stake in shares of Barrick Gold by 88.1% during the fourth quarter. Addenda Capital Inc. now owns 3,105,335 shares of the gold and copper producer’s stock valued at $56,176,000 after purchasing an additional 1,454,220 shares in the last quarter. Klein Pavlis & Peasley Financial Inc. purchased a new position in Barrick Gold during the fourth quarter valued at $1,331,000. DAVENPORT & Co LLC boosted its holdings in Barrick Gold by 17.9% in the fourth quarter. DAVENPORT & Co LLC now owns 73,627 shares of the gold and copper producer’s stock worth $1,332,000 after acquiring an additional 11,166 shares in the last quarter. Gateway Investment Advisers LLC grew its stake 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 worth $4,505,000 after acquiring an additional 167,145 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings 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 in the last quarter. 62.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GOLD. CIBC dropped their price target on shares of Barrick Gold from $27.00 to $23.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 7th. Scotiabank cut their target price on Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, February 20th. StockNews.com raised shares of Barrick Gold from a “hold” rating to a “buy” rating in a report on Wednesday, February 21st. Raymond James dropped their target price on shares of Barrick Gold from $24.00 to $23.00 and set an “outperform” rating on the stock in a report on Thursday, February 15th. Finally, TD Securities decreased their target price on shares of Barrick Gold from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Friday, February 16th. One analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $21.60.

Barrick Gold Price Performance

Shares of NYSE:GOLD opened at $17.03 on Friday. The firm’s 50 day simple moving average is $16.47 and its two-hundred day simple moving average is $16.35. Barrick Gold Corp has a 1-year low of $13.76 and a 1-year high of $19.85. The company has a market capitalization of $29.90 billion, a P/E ratio of 20.77, a P/E/G ratio of 1.44 and a beta of 0.59. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.32 and a quick ratio of 2.49.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its quarterly earnings results on Wednesday, May 1st. The gold and copper producer reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.04. Barrick Gold had a net margin of 12.58% and a return on equity of 4.88%. The company had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.74 billion. During the same period in the previous year, the firm posted $0.14 EPS. Barrick Gold’s revenue for the quarter was up 3.9% compared to the same quarter last year. Research analysts expect that Barrick Gold Corp will post 0.95 EPS for the current fiscal year.

Barrick Gold Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, May 31st will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, May 31st. This is a positive change from Barrick Gold’s previous quarterly dividend of $0.07. This represents a $0.40 dividend on an annualized basis and a yield of 2.35%. Barrick Gold’s dividend payout ratio is presently 48.78%.

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.